Hugh Grover is to leave his role as chief executive of the London Collective Investment Vehicle.
Mark Hyde-Harrison, who was head of defined contribution strategy at consultancy Willis Towers Watson until 2015, has been appointed interim chief executive.
Whilst employed by London Councils, Mr Grover was appointed as programme director to establish the London CIV in October 2014. When the CIV formally became a company, he was appointed chief executive in May 2015. His final day at the London CIV will be 10 November.
Mr Grover said: ”It’s been an honour and a privilege to be the first chief executive of the London CIV, but it is time for me to pass the baton to someone new who will take it into its next phase of development.
”I’m immensely proud of all that has been achieved by the team and colleagues across London. The London CIV was innovated by London local government for London local government, was the first of its kind, and continues to be at the leading edge of investment reform and collaboration across the Local Government Pension Scheme. I wish my successor and the team every success as they continue this exciting journey.”
Lord Kerslake, chair of the London CIV, said: ”London CIV has been a ground-breaking achievement in local government pensions management. It would not have been possible without Hugh’s enormous personal commitment. We wish him all the best for the future.”
Mr Hyde-Harrison was the chair of the National Association of Pension Funds (now the Pensions and Lifetime Savings Association) from 2011 to 2013. Prior to this, he worked for the Barclays UK Retirement Fund, as chief investment officer from 2002 to 2007, and chief executive from 2007 to 2012.