Local Pension Partnership's (LPP) co-chief investment officer (CIO) Mike Jensen has returned to Lancashire County Council (LCC) as director of investments.
He started at the council on 1 October in the newly-created role, which includes developing and implementing the treasury management strategy, and covers both investment and borrowing activity.
Since 2016 Jensen has worked at the LPP which was set up to pool the investments of the Lancashire County Pension Fund (LCPF) and London Pension Fund Authority, and was authorised by the Financial Conduct Authority 17 months ago.
He stepped down from that role on 30 September but will continue to be associated with the company in an independent advisory capacity.
Before joining the LPP, he was CIO at the £6.1bn Lancashire County Pension Fund (LCPF) for over six and a half years.
The council's leader Geoff Driver said: "At a time when LCC is facing a very challenging financial situation, it is more important than ever for the people of Lancashire that we secure the best possible return from the council's investment activities, which is why we have created this new position of director of investments."
LPP chairman Michael O'Higgins commented: "We have achieved an enormous amount at LPP since our formation, and Mike has made a key contribution to that success. In his new role, he will be a significant asset to LCC."
Jensen added that with such solid foundations in place at LPP, he is now looking forward to returning to LCC.
Before joining the LCPF, he was a principal at Bank of America for over a year, and treasury and pension fund manager from 2002 to 2006 at Cornwall County Council.
He also served as an executive director at UBS bank as an income risk and trading manager from 1994 to 1995.
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