UK - David Crum, the chief pensions officer for investments at Strathclyde Pension Fund, has left the organisation to join Hewitt Associates. He will join the investment team at Hewitt on 1 October.
He occupied his previous role at the £9.6bn Strathclyde Pension Fund since July 2004. Prior to that he worked for the Lothian Pension Fund, which is administered by the City of Edinburgh Council, in addition to roles as an investment administrator and investment officer.
In a separate development, in July, Global Pensions reported that Glasgow City Council is seeking a master custodian for the Strathclyde Pension fund.
The city council has also tendered a £15m mandate for an absolute return manager on behalf of the Strathclyde Pension Fund Number 3.
Regarding the custodian process, Crum said it would end in December with a committee interview of the shortlist, which is still to be decided.
He added that it was also expected to complete the appointment for the absolute return mandate later in the year.
Kim Gubler says it is time that schemes and administrators reassess SLAs and look at what real people need from their pension schemes and when
The Pensions Regulator (TPR) is focusing on reducing the number of "poorly-run" schemes as it seeks to improve standards across the board.
Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
Funding standards for DB schemes have increased exponentially over the past decades. Con Keating says such significant overstatement of liabilities will lead to pushback through the courts.