UK – Tony Miller, general manager of the £1.2bn pension (E1.75bn) scheme of Siemens Shared Services Ltd., has left the fund following a review of the schemes’ structure.
A spokesman for Siemens Shared Services confirmed that Miller had left after a routine review, which he said looked at the future “division of responsibilities” and the re-organisation of the pension scheme’s structure.
The spokesman said the review had been launched to meet “the demands of the scheme’s stake holders”. Siemens’ last review dates back to autumn 2003.
“Tony Miller felt that his career wishes could not be fulfilled within the re-organisation. So he has decided to pursue a career outside Siemens,” the spokesman told IPE.
Miller was not contactable. For the time being, he is being replaced by Peter Merrick, director of corporate personnel.
“We are hoping to make an internal appointment,” the spokesman said, but declined to say when the appointment would be made.
According to ‘International Pension Funds and their Advisors 2004’, the pension scheme fund is managed by UBS Global Asset Management, Schroder Investment Management and Barclays Global Investors.
The spokesman said Siemens Shared Services had “a number of defined benefit sections and one defined contribution section”. Siemens UK in addition has “a number of other DB and DC plans which are not administered centrally by Siemens Pension Services”.
The arm offers accounting, consultancy, logistics, strategic procurement, translation services and travel management services.
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