NETHERLANDS - Roderick Munsters is leaving APG, the asset management arm of public employees' pension scheme ABP.

Starting 1 September, Munsters will take the helm at Robeco, the asset management division of Rabobank Group, as the firm's new chief executive.

In his new capacity, Munsters will replace George Möller, who is leaving Robeco for retirement.

Munsters presently serves as director of investments and as a member of the Board of APG.

Before joining the ABP pension scheme as chief investment officer in 2005, Munsters had  held a similar position since 1997 at PGGM, then the industry-wide scheme serving the healthcare industry in The Netherlands.

Dick Sluimers, chairman of the Board of Trustees of APG, said it "a shame" that Munsters is leaving the organisation, though Sluimers added APG does, however, "understand why he would take this step".

Once he joins Robeco, Munsters is expected to flesh out the company's growth strategy.

It is as yet unclear who will collect the baton from Munsters at APG, but the giant pension fund manager has already begun its search for a suitable replacement.

APG spokesperson Hans ten Brinke told IP Nederland, sister publication to IPE: "Procedures to find a replacement have already been put in motion."

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