Lothian Pension Fund names CEO
Scotland’s second largest local government pension scheme, Lothian Pension Fund (LPF), has announced changes to its leadership team including the appointment of a chief executive.
David Vallery replaces the outgoing Doug Heron who is departing to join the CERN Pension Fund in Switzerland.
Based in Edinburgh, Vallery’s appointment will be effective as of June 21. He most recently served as chief financial officer at Police Mutual Assurance Society.
The LPF has more than 84,000 members and £8 billion (€9.3 billion) in assets. It is also FCA-regulated which enables it to manage third party assets and provide advisory services.
By Susanna Rust2021-06-01T10:36:00+01:00
A UK pension scheme of travel agency company TUI has agreed two pension risk transfer transactions for £794m (€921m) with Legal & General Assurance Society Limited.
The deals comprise a £610m partial buy-in for the BAL section of the TUI Group UK Pension Trust, and a £184m full buy-in for the TAPS section of the scheme. There are three pension sections within the scheme.
Mike Roberts from PAN Trustees, chair of the trustee board, said the transaction had concluded at attractive pricing, closing the gap to being fully funded and providing increased security of benefits for members of the scheme.
The second largest Local Government Pension Scheme fund in Scotland has announced who will succeed Doug Heron as its chief executive. David Vallery, who