UK - Permal Investment Management has appointed Paul Jeffries to head up its UK institutional business.
Jeffries (pictured) takes on the newly-created role on 1st June and joins from Railpen Investments. He will report to executive vice president and co-head global business development, Roberto Giuffrida.
At Railpen Investments, the UK railways pension fund and one of the largest UK schemes, Jeffries managed the £8bn global equity multimanager portfolio, investing in both traditional and alternative managers. This role included research, monitoring and selecting new investment ideas. Before joining Railpen in 2005, Jeffries worked at RMB International.
Perma manages approximately $23bn in alternative investments.
Giuffrida said: "Paul will be a valuable addition to our institutional team. This is a new role and shows our serious commitment to the UK institutional market. We have an established global institutional business across all client segments, namely pension, insurance, endowment/ foundation and sovereign, and last year brought on board Andrew Rozanov (former managing director and head of sovereign advisory at State Street) to head our sovereign wealth advisory arm.
"Paul's knowledge of the UK pensions market and his experience of managing investments for one of the largest UK pension schemes will certainly enhance our presence in the UK market and is a good example of how we are developing our business around the world."
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.