Vernooy to retire from Unilever scheme

NETHERLANDS - Alco Vernooy is to retire as managing director at the €3bn Progress pension fund at Unilever and be replaced by Loek Sibbing from Volker Wessels.

Vernooy’s retirement follows the departure in January of chief investment officer Walther Schapendonk amid a plan to pool the scheme’s equity assets, which account for 60% of assets.

The Anglo-Dutch consumer goods giant said Sibbing, 45, would join the Rotterdam-based scheme on June 1.

Vernooy will retire after 31 years with Unilever on September 1.

Sibbing has been director of the €570m Rijswijk-based Stichting Pensioenfonds Koninklijke Volker Wessels Stevin since March 1999. He previously worked at Randstad Holding as corporate treasurer and pension fund director.

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2467

    Asset class: Search for a broker (mainly ETFs).
    Asset region: Global.
    Size: 250m.
    Closing date: 2018-08-28.

  • DS-2468

    Closing date: 2018-08-24.

Begin Your Search Here