The BT Pension Scheme (BTPS) has appointed Now Pensions founder Morten Nilsson as chief executive of its investment management and advisory arm.
BT has slashed its pension liabilities by £1.8bn in three months through deficit recovery contributions (DRCs) and a change to the scheme's discount rate.
US-based Federated Investors has completed its acquisition of a 60% interest in Hermes Investment Management from the BT Pension Scheme (BTPS).
BT and the Communication Workers Union (CWU) are said to be close to a deal over the closure of the telecoms company's defined benefit (DB) scheme.
BT will appeal last month's High Court ruling which barred it from swapping the inflation indexation used for one section of the BT Pension Scheme (BTPS).