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Lothian Pension Fund appoints new chief executive

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Lothian Pension Fund has chosen Doug Heron as its new chief executive, starting from February.

Mr Heron joins the fund from Nucleus Financial, which runs an investment platform used by financial advisors, where he was chief financial officer then chief operating officer.

His appointment comes amid debate over the future structure of the Scottish Local Government Pension Scheme, with many funds hostile to proposals for consolidation.

Current chief executive Clare Scott, who has led Lothian Pension Fund for six years and is now leaving the fund, developed a collaboration with two other funds in the scheme. Lothian has signalled it is open to mergers in the future.

Mr Heron said: “I am delighted to be joining the team at Lothian Pension Fund and to have the opportunity to play a part in shaping the stewardship of pension funds for local government employees in Edinburgh and the Lothians and, through our partnerships with other schemes, more generally across Scotland.

“Pension benefits remain a core part of the employee proposition within local government and ensuring the sustainability of those benefits is the key priority.”

Alasdair Rankin (SNP), councillor at Edinburgh Council and convener of Lothian’s pensions committee added that he was “delighted” by Mr Heron’s appointment.

“He was the unanimous choice of the appointments panel and I believe he is ideally qualified to continue the successful delivery of the Lothian Pension Fund’s work and look forward to working with him.”

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