London CIV, one of the UK’s investment pools, has appointed Jenny Buck as chief investment officer, with effect from March 2025, as the pool prepares for upcoming changes to the relationship with its partner funds.

Buck brings more than 30 years of experience in investment management, with extensive expertise in business and people management, asset allocation and investment solutions across multiple asset classes.

Prior to this appointment, Buck was CIO at Tesco Pension Investment, which she first joined in 2011 as part of its founding leadership team.

She saw the business grow from a start-up to one of over 100 people, with £25bn of assets under management (AUM). During her tenure, she held several senior roles, including head of property, head of private markets and deputy CIO, before being appointed CIO in 2021.

Jenny Buck, chief investment officer at  London CIV

Jenny Buck, chief investment officer at London CIV

As part of that role, Buck oversaw the UK Gilts strategy, the build-out of the responsible investment department and the transition of the investment management of the £12.9bn Tesco Defined Benefit Pension Scheme to Schroders in February 2024.

Prior to Tesco, Buck spent nearly 10 years at Schroders, where she was head of global property fund of funds where many of the clients were local authority mandates.

London CIV’s chief executive officer, Dean Bowden, said: “Given the government’s recent decision to redefine how LGPS pools across England and Wales work together with their partner funds in the coming months and years, Jenny’s appointment comes at a pivotal time for the London LGPS community.”

In her first Mansion House speech in November 2024 Rachel Reeves, the UK’s chancellor of the exchequer, announced a number of different measures in what she dubbed as the biggest pensions reform in decades. One of the measures includes changes to LGPS funds aiming to free up money for local public services in the long term and secure more than £20bn for investment in local communities.

This would involve consolidating assets into a “handful” of megafunds authorised by the Financial Conduct Authority. The pools would also replace the role provided by investment consultants and independent advisers in providing investment strategy advice to LGPS funds.

Bowden continued: “Her extensive experience will play a crucial role in our ability to work even closer together, increase efficiency, drive down costs and compound value for London’s LGPS members.”

Buck added: “I am thrilled to be taking on this exciting role and am very much looking forward to working with the team and the partners of the London CIV who, I know, are all focused on delivering sustainable prosperity for the communities that count on us.”

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