The London Pensions Fund Authority (LPFA) has named managing director Robert Branagh as chief executive officer.
Branagh joined LPFA in April 2018, replacing Mike Allen who retired. Former CEO Susan Martin had moved on to join Local Pensions Partnership (LPP) in 2016, an LPFA spokesman clarified.
He added that the authority was then run through the roles of managing director and chair, with no CEO. He said the announcement is a change of structure, which “effectively (re)creates the role of CEO of LPFA”.
The appointment follows the recruitment of LPFA’s management team, which now includes Peter Ballard, director of funding and risk, Morenike Ajayi, commercial and finance director, and Alistair Peck, member engagement and communications, the statement said.
Ballard – who has worked for trustee, not for profit, private equity owned, and insurance businesses for the last 30 years – joined the £6.1bn (€7.3bn) local government pension scheme (LGPS) in February and is responsible for overseeing all aspects of the fund’s funding policy, investment strategy, and employer covenant assessment.
Ajayi joined last September, while Peck started in November, he confirmed.
As for Branagh’s appointment, John Preston, who was named LPFA chair in January, said: “Robert’s new role reflects the next stage in the LPFA’s evolution.”
He added that Branagh would also “lead on developing the LPFA’s strategic direction, supporting collaboration across the LGPS sector and raising our profile – particularly relating to our responsible investment and sustainability aspirations – across the industry”.
The appointments also follow the successful conclusion of pooling by LPP and the setting out of a new strategic direction for both the pool and the fund over the next three to five years, LPFA stated.
The LPFA, with over 90,000 members, 142 actively contributing employer, together with Lancashire County Council, is a shareholder of LPP – a pensions service provider for LGPS and other public sector pension funds.