Pension Insurance Corporation founder Edmund Truell has been appointed as the chairman of the London Pensions Fund Authority.
Truell, who departed from PIC earlier this year (PP Online 23 October), will take the top job at the largest local government pension scheme provider, which is used by 200 not-for-profit employers who sponsor 80,000 members and fund assets of £4.2bn.
He has already indicated his intention to further consolidation of London public sector schemes and use the combined funds to invest in infrastructure; a theme that has been discussed by several commentators this year (PP Online 10 April).
Appointing Truell, London mayor Boris Johnson said: "Edmund brings a wealth of experience in pensions management to build on the solid foundations laid by outgoing chairman, Anthony Mayer.
"This appointment will give further impetus to the LPFA to deliver value for money for Londoners, provide long-term sustainable provision for its members and to explore new ways to invest funds including in London's infrastructure."
Truell said: "I look forward to working with the board and executive to deliver safe and secure pensions to our members.
"The LPFA is already a cost effective pensions administrator for many public sector employers. We look forward to being the consolidator for many more, thereby delivering even better value for money to taxpayers; and best in class service levels to members.
"By growing our assets under management, the LPFA will be better able to invest into long term infrastructure and housing assets, thereby delivering solid long term returns as well as societal benefits."
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