SAUL to recruit independent trustee
UK - SAUL Trustee Company, the trustee body of the University of London's support staff pension scheme, has advertised for an independent trustee to sit on both the board and the investment committee.
The vacancy for a new trustee has opened up following the retirement of Bob Bridges, client director at Capital Cranfield Trustees, from the role.
Bridges has acted as an independent trustee to the Superannuation Arrangements of the University of London (SAUL) for six years. A spokeswoman from Capital Cranfield Trustees noted it is "appropriate, and usual industry practice, for him to stand down".
SAUL is an open defined benefit (DB) scheme with over 28,500 members and around £1.1bn (€1.2bn) in assets, so the new appointee is required to have experience of trusteeship of large pension funds and "first-hand understanding and knowledge of the liabilities and investment issues they face".
Figures from SAUL's annual report for 2008 showed at the end of March 2008 the pension scheme employed 15 investment managers with an asset allocation comprising:37.5% in UK equities; 25.5% in overseas equities; 17.5% in UK bonds; 7.5% in overseas bonds; 5% in property; 5% in alternatives, and 2% in cash.
The advertisement noted professional firms of independent trustees are eligible to apply although the appointment would be based on a specific candidate put forward for the role.
Applications for the role should be submitted by 16 October 2009, and further information is available from the SAUL Trustee Company.
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