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Pool set up 'takes a toll' on chiefs

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There needs to be greater recognition of the stress, pressure and workload that Local Government Pension Scheme asset pool chief executives are under, a leading fund director has warned.

George Graham, fund director at South Yorkshire Pensions Authority, highlighted to delegates at the LGC Pension Insight Symposium in Stratford-upon-Avon the workload and potential mental and physical burden of being the figurehead of an asset pool.

Responding to an audience question as to whether it was felt the expectations on LGPS pool CEOs were too great, he said: “Anybody who has worked to create anything from scratch – and for the CEOs of all pools, regardless of when they come into the process, these are still organisations in their start-up phase – they are going to be working incredibly hard; that will take a toll.

“I get emails from our CEO at ridiculous-o’clock in the morning, and I know she is around the country seeing partner funds on an extremely regular basis, and away from home, and that takes a toll.

“It is not a job I would want to do; it is bloody hard. Fair play to anybody who wants to put their hat into the ring to do these jobs because I wouldn’t want to do it, and in fact I am open enough to say I couldn’t do it.”

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