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ABP taps ex-NBIM chief Kjaer for advice

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  • ABP taps ex-NBIM chief Kjaer for advice

NETHERLANDS - Knut Kjaer, the former chief executive of Norges Bank Investment Management (NIBM), the asset manager of the Norwegian oil fund, has joined the investment committee of the giant Dutch civil service pension fund ABP.

Scott Evans, executive vice president of asset management at the American educational pension fund TIAA-CREF, one of the largest in the US, will also join the committee, whcih advises the management board of €193bn ABP.

Kjaer and Evans will replace Philip Lambert, the head of corporate pensions at Unilever, who retired in October last year, a spokeswoman told IPE.

Fritz Fröhlich, a former chief financial officer of chemicals company Akzo Nobel, was named chairman of the committee on January 1.

The committee now has five members, among which are also Paul de Grauwe, a professor at the Belgian university of Leuven, and Leo de Bever, the chief executive of Alberta Investment Corp.

ABP said in a news release that the members have been appointed on the basis of their specific experience and expertise.

"The committee advises on the contents and the execution of the three-yearly strategic investment plan, the annual investment plan, the policy on investments, investment projects and the organisation of the investment process," explained the fund.

The committee also gives unsolicited advice.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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