NETHERLANDS/UK – Dick de Beus, outgoing chairman of the 53 billion-euro Dutch healthcare and social work pension fund PGGM, is to join the board of asset manager F&C Management.
F&C said de Beus would become an independent non-executive director with immediate effect.
“Our mission is to build a leading, pan-European asset management company,” said F&C chief executive Robert Jenkins. “Two thirds of our revenues already come outside the UK and we look forward to continued strong growth.”
“Dick is an industry leader within the important Dutch marketplace and a widely recognised figure across the European pensions scene. We are delighted to have him on board.”
PGGM said in September last year that transportation executive Karel Noordzij would take over from de Beus as chairman on March 15 2004. De Beus is expected to continue working for PGGM as a consultant.
De Beus said: “Europe is perhaps the asset management opportunity of the decade and F&C is very focused on this marketplace.”
“I have been impressed with the rapid progress that F&C has made in the Netherlands and look forward to guiding the company’s efforts across Europe.
The appointment brings to four the number of non-executives on the F&C board. F&C, part of Dutch-based Eureko, manages more than 90 billion euros in the UK and Europe. Last month Eureko said it plans to float up to 49% F&C.
De Beus is also a member of the supervisory board of Amsterdam-based custody group Kas Bank.