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Vermaire to head investment at TNO scheme

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  • Vermaire to head investment at TNO scheme

NETHERLANDS - The €1.8bn pension fund of applied technical research institute TNO has appointed Arjan Vermaire as its new chief investment officer.

Vermaire has been working for Rijswijk-based pensions provider and asset manager A&O Services during the past 10 years, and has been deputy asset manager there since 2002.

A&O is the asset manager for BPF Schilders, the €3.2bn pension fund for the painting, finishing and glazing sector, which had a cover ratio of 109% at the end of 2008.

In that same period, the TNO scheme had a cover ratio of 103% as the pension fund - which has approximately 14,500 participants - delivered a negative return of 4.8% for the year.

The new chief investment officer succeeds Mark Burbach, who was appointed in the same position at pensions provider and asset manager Blue Sky. (See earlier IPE story: Burbach to leave TNO pension fund)

If you have any comments you would like to add to this or any other story, contact Julie Henderson on + 44 (0)20 7261 4602 or email julie.henderson@ipe.com

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