UK - Trustees of the £12.7bn (€20.9bn) National Grid pension schemes are close to signing a replacement UK pension manager.

A spokeswoman for the company said former pensions manager John Lovell left on September 18 and the firm is now "in the final stages" of making an appointment.

The existing team is taking on his day-to-day duties in the interim until the new pensions head is confirmed, she added.

The National Grid pension schemes is now the 25th largest pension fund in Europe according to IPE's Top 1000 survey, and comprises three schemes: the former Electricity Supply Pension Scheme defined benefit scheme; the Lattice Group pension scheme, now known as the National Grid UK Pension Scheme, and the National Grid Wireless Pension Scheme (formerly named the Crown Castle UK Pension Scheme).

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