UK – Pensions industry stalwart Alistair Ross Goobey is to step down from his position as chief investment officer at Hermes Pensions Management, the fund management arm of the BT pension scheme, at the end of the year.

He will be succeeded by Tony Watson, the present chief investment officer at Hermes, who joined the firm in 1998 with the intention that he would, in due course, replace Ross Goobey.

Ross Goobey, who was instrumental in many of Hermes’ groundbreaking initiatives, including its firm stance on corporate governance issues, says he will be looking for new challenges of a part-time nature.

He comments: “When I took this job, at what was then PosTel, I suggested that the right period in office for me and the company would be between five and eight years. I have already overstayed that range.
“ This has been the most fulfilling experience, but it is time for new leadership at Hermes and new challenges for me, and not full-time ones. I would rather leave while people are kind enough to say they regret my decision, not wait until they are impatient for me to go.”

Speaking about his new role, Watson added: “ I am delighted to have been given this opportunity by the trustees of the scheme to build on the success that Hermes has had under Alastair’s stewardship over the last nine years.
“ The transition should be seamless. Although of course, I have ideas of my own about how to execute our further development, Alastair and I have worked very closely together over the past two and a half years. There will be few, if any surprises.”