NETHERLANDS - PGGM, the asset manager created out of the PfZW pension fund for Dutch healthcare workers, has reworked its management structure to focus on core activities.

An executive committee will look after the €86bn from 1 January 2010, headed by Martin van Rijn, and Else Bos will step into the deputy CEO role with specific responsibility for pensions and portfolio client management, in her capacity as chief of institutional business (CIB).

Bart Blanken, currently head of the IZZ Foundation, will arrive on 1 March 2010 to become chief marketing officer, while Johan van der Ende and Harry Vossebeld will maintain their existing roles as CIO and COO respectively, alongside Paul Loven who joined in November as CFO.

The Members' Council will still be the overarching monitor of the PGGM governance and activity, overseeing the Cooperative Board, which in turn monitors the Executive Committee. All other elements of the running and management of the business will then filter out of the Executive Committee.

Commenting on the plans for PGGM, Martin van Rijn, CEO, said: "We intend to continue and expand our responsible pension and asset management on behalf of pension funds by responding even more effectively to market developments and the needs of our clients."

He continued: "Besides this, we are focusing on strengthening the cooperation further, as well as intensifying the bond with the care and welfare sector, through tailored financial service provision. The new organisational structure will enable us to be an even stronger and more reliable partner for pension funds, their participants and the members of PGGM."