Belgacom’s Grauls joins metal industry fund
BELGIUM – The pension fund for Belgium’s metal industry has hired former Belgacom portfolio manager Greet Grauls.
Kamiel Van Loock, director at the Brussels-based defined contribution Pensioenfonds Metaal scheme, said that Grauls would join the fund on February 1 as finance manager, a new role. The fund covers more than 200,000 workers.
Grauls was junior investment officer at Belgacom. Before that she was a product manager at KBC Asset Management.
The appointment comes as the 3.6 billion-euro scheme of the telecoms company is being transferred to the Belgian state in the run up to an initial public offering.
The move meant that 10 investment managers lost their mandates and has seen the company downgraded by ratings agencies.
The International Monetary Fund called the transfer an “ad hoc” measure which masks the country’s true fiscal position.