NERTHERLANDS - Eloy Lindeijer, division director for financial markets at Dutch pension regulator De Nederlandsche Bank (DNB), will join PGGM as chief of investment management (CIM).

He will join in September 2011.

The appointment, subject to approval by the DNB, will see Lindeijer head up the company's asset management business unit and join its executive committee.

As part of a reorganisation of management that comes into effect from October, the role of chief investment officer, held by Johan van den Ende until his resignation last year, will be replaced with that of CIM.

Jac Kragt, who currently holds the CIO role on an interim basis, will remain with PGGM. A spokesperson later confirmed he would return to his previous role of chief risk officer once the restructuring was complete.

Lindeijer will report to PGGM chief executive Martin van Rijn, who said: "We are delighted that Eloy is joining us. His thorough knowledge of the financial markets and his management experience mean he is ideally placed to provide strong leadership of the asset management unit and to serve as a member of our executive committee."

PGGM is the pension administrator for the health and welfare sector fund PFZW, with €105bn in assets under management.

The asset manager's head of infrastructure recently announced that between 20% and 30% of its infrastructure exposure would be gained from investing in emerging markets.

It also last month announced it would be joining forces with Rabobank to launch a project titled 'Saving for Later'. As part of the project, a website will be launched allowing members to monitor their accrued pensions.

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