Nico Aspinall will be leaving as CIO of UK multi-employer defined contribution scheme The People’s Pension to join impact investment firm Connected Asset Management as CIO, a spokesperson for Connected confirmed.
Mr. Aspinall will lead the company’s sustainable investment strategy. Upon his arrival at the end of November, Mr. Aspinall will replace the current CIO Gustave Rieunier, who will become chief operating officer. The role is new.
“Nico is a surprisingly bright appointment for Connected. His in-depth knowledge of managing CD pension investment strategies at the highest level will be essential for Connected as we develop and deliver a fully sustainable long-term investment solution. for the UK pensions sector. ”Darren Agombar, founder and CEO of Connected, said in a statement Tuesday.
Connected will launch a defined contribution impact fund in October that will target at least £ 60million ($ 83million) in assets under management.
The People’s Pension, which is sponsored by B&CE, West Sussex, England, has yet to recruit a new CIO. “We will recruit behind Nico, but we have not yet named. Nico will continue to work with us over the coming months, alongside our Investment Governance Expert Committee, to ensure continuity in driving our investment strategy as we recruit a new CIO, ”said a spokesperson for The People’s Pension in an email.
The People’s Pension was launched in 2011 in response to UK government demands for employers to enroll their employees in defined contribution plans. By helping employers meet their automatic enrollment obligations, the plan has since seen its assets grow to £ 15bn. Mr. Aspinall, who joined the group in September 2017, was the regime’s first CIO.
In July, the Master Trust hired Jon Cunliffe as Managing Director of Investments. The role is new. Mr Cunliffe will work alongside the new CIO to boost the plan’s investment activities, the spokesperson said.