NETHERLANDS – PGGM has hired Aegon veteran Jeroen de Munnik as its chief of institutional business (CIB), filling the vacancy left after Else Bos was named chief executive of the pension provider in March.

De Munnik, born in the Dutch town of Hengelo near the German boarder, will assume his new position at the beginning of October, PGGM said.

Bos said she was "happy" with the appointment.

"After an intensive recruitment and selection procedure, which involved a number of candidates, Jeroen convincingly stood out as the new chief of institutional business," she said.

"He has expertise in our field and experience that ties in well with our ambitions and our key values and core qualities.

"He complements the other members of the EC well in the phase where PGGM is at the moment."

As part of his new role, de Munnik will sit on the pension provider's executive committee.

He began his career in 1993 at Aegon Netherlands, joining the company's management board in 2008 with responsibility for the insurer's pension business.

The CIB role became vacant in March after Bos was named PGGM's new chief executive after five months as its interim head.

She succeeded long-standing chief executive Martin van Rijn, who in November last year was named state secretary for healthcare in the then-newly formed coalition government headed by Mark Rutte.