UK - The Pension Protection Fund has appointed a new chief investment officer to oversee its investment portfolio, which is currently worth more than £3bn.
The PPF said the person previously responsible for the investment portfolio had left in April last year but could not comment further.
It said McKinlay had been on secondment from PwC to the PPF from April to October 2008 to carry out the role.
He was appointed to the role permanently following an extensive recruitment process, which started in October.
PPF's director of financial risk Martin Clarke said: "Our investment portfolio has grown substantially since we were set up more than four years ago.
"This means that it is crucial we manage and grow that portfolio effectively to maximise returns and help make sure we continue to pay out compensation to our members."
McKinlay said: "I'm joining the PPF at a time when we are facing enormous economic challenges and I look forward to helping the organisation evolve its investment strategy to help meet those challenges."
Prior to joining PwC, McKinlay was head of Aon Consulting's investment practice between 2000 and 2007.
He was previously a scheme actuary at Mercer for five years.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.