OPERS; GESB; TRS; LCP; Friends Provident; Northern Trust; Mercer; PBGC
The Ohio Public Employees Retirement System (OPERS) chief executive officer (CEO) Chris DeRose has resigned to become president of client services for strategic accounts for health care consulting firm Ingenixm.
He and the OPERS Board of Trustees are currently working on a transition plan and deciding a departure date. He will remain as CEO until then.
DeRose joined OPERS in October 2006 after nine years as chief executive officer of the Michigan Office of Retirement Systems. As OPERS CEO, DeRose led the development of a comprehensive, five-year strategic plan including operational efficiency, plan design, solvency and sustainability.
OPERS Board of Trustees chairman Ken Thomas said: "Chris has been an important part of our organisation. He has had many accomplishments and worked very hard for our members and retirees during one of the most difficult economic times in our system's history. The Board will initiate a nationwide search for a new director in the near future."
Government Employees Superannuation Board (GESB) chairman Phil Harvey is to step down next month after eight years at the fund. Harvey said he will not seek reappointment to the Board once his current term ends on 6 March. A successor will be announced by the Australian fund in due course (Global Pensions: 11 February 2011).
The Teacher Retirement System of Texas (TRS) Board of Trustees has appointed Brian Guthrie as executive director following a search process that began in June 2010. He will oversee the plan and related benefits for active and retired Texas public education and higher education employees. Guthrie has served as deputy director at the fund since September 2008. His new role will take effect from 1 September 2011 and he replaces current executive director Ronnie Jung, who will serve in liaison with Guthrie and the trustees through a transition period until 31 January 2012.
UK consulting firm LCP's senior partner Martin Slack will retire after 41 years of service. Slack has worked at LCP for his entire professional career, joining the firm from Cambridge University in 1970. He was made a partner in 1975 and senior partner in 1996. Slack will step down on 31 March 2011 but will continue to work with LCP on a consultancy basis. He will be replaced by Bob Scott who became partner at the firm in 1988.
Friends Provident has named Colin Williams as director of its corporate business after Paul McMahon quit the firm to join rival Aegon as UK group marketing director. Williams, previously distribution and marketing director with the life and pensions firm, takes over with immediate effect. He will be responsible for developing its workplace savings strategy in the corporate benefits market and the ongoing integration of the Friends Provident and AXA corporate businesses. He will report directly to chief executive Trevor Matthews.
Northern Trust has appointed Kristina Ilar as investment sales director for Northern Trust Global Investments. Based in Stockholm, she will support the firm's business development opportunities across the Nordic region, offering asset management products and solutions to corporate and public pension funds, sovereign wealth funds and insurance companies.
Ilar's appointment follows the firm's recent decision to offer asset management products and services to investors across the Nordic region from its Stockholm office. Previously, Ilar was director of client relationship management and business development at UBS Asset Management and executive director head of Nordic institutional sales at Morgan Stanley Investment Management.
Karen Chester has been hired as a partner at Mercer. In her new role, Chester will oversee specialist consulting in the firm's alternatives boutique to expand investments in Australia and New Zealand. She joins from Access Capital Advisers where she was a partner and director, heading the firm's Sydney office and Infrastructure Group Australasia, managing A$1.5bn ($1.5bn) in unlisted infrastructure investments. She will join Mercer on 28 February and will be based in the Sydney office.
Pension Benefit Guaranty Corporation (PBGC) director Joshua Gotbaum has appointed Cheryl Alston and Daralyn Peifer to the Advisory Committee after their approval by President Obama.
Alston has been executive director for the Employees' Retirement Fund of the City of Dallas since October 2004. She is also a member of the Council of Institutional Investors, the National Council of Public Employee Retirement Systems and the Texas Association of Public Employee Retirement Systems. Peifer is retired from General Mills, where she served as vice president, treasurer and chief investment officer. Her role including managing the investment of the firm's pension, savings and retiree health assets as well as the performance measurement, accounting, auditing and operations of the retirement plans.
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