UK – The head of pensions at the 994 million pound (1.5 billion euro) UK Environment Agency pension fund, Sue Timberwell, has left.

Timberwell served with the fund for eleven years. No one at the fund would comment on the reasons for her departure, or her next move.

Howard Pearce, head of environmental finance will head up the pensions team of five on an interim basis, and a spokeswoman at the fund said a permanent replacement for Timberwell will be announced “in due course”.

The fund has 10,250 active members and as of March 31 2002 had 994 million pounds (1.5 billion euros) in assets under management.