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LGPS pool hires former watchdog director

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The Local Government Pension Scheme Central pool has hired a former director of The Pensions Regulator as its chief executive officer.

Warwick thompson

Andrew Warwick Thompson three by two

LGPS Central, via which nine Midlands funds to invest collectively, has hired Andrew Warwick-Thompson, currently executive director for regulatory policy at the regulator. TPR has responsibility for the oversight of the administration and governance of the LGPS, but not its investments.

This is the second high-profile hire for the pool, which will control assets of £35bn. Last week, it announced it had hired former chief executive of the Pensions and Lifetime Savings Association, Joanne Segars.

Most LGPS pools will go live in April 2018; the London Collective Investment Vehicle and the Local Pensions Partnership are already operational. The bulk of the work involved in setting up the pools has been done by officers working for the local authorities that administer the individual pension funds. Now, however, the pools are in the process of becoming legal entities in their own right and, as regulated investment companies responsible for tens of billions of pounds, they will need experienced senior officers as well as staffs of 30-50 people in most cases.

Mr Warwick-Thompson joined TPR in 2013 and will take up his new role in July.

He said: “I have hugely enjoyed my time at TPR, not least because of the calibre of people I have had the opportunity to work with. I know that the team of people I leave behind will continue to work with commitment and drive. I care deeply about making pensions work for people and will relish the opportunity to continue that work in my new role.”

LGPS Central comprises the pension funds of the funds of Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, West Midlands, West Midlands Integrated Transport and Worcestershire.

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