Lothian Pension Fund has appointed Emmanuel Bocquet as CIO, succeeding Bruce Miller who is set to retire.
Bocquet will take over responsibility for Lothian’s £9.6bn investment portfolio from November. Miller will remain in place until the end of January to support a smooth transition.
Bocquet joins Lothian from pension fund consolidator TPT Retirement Solutions, where he has spent the past seven years as deputy CIO, managing multiple schemes across strategic portfolio construction, investment manager selection for all asset classes and reporting to stakeholders.
Prior to that he spent over ten years at the in-house investment management arm of the National Grid UK pension scheme, among others, as head of alternative investments.
Commenting on his appointment, Bocquet said: “Lothian Pension Fund is unique within the Scottish LGPS sector in operating an FCA-regulated investment arm. It’s well known in the industry for its commitment to sustainably growing its pension fund through good stewardship of its assets. I’m delighted to be joining to continue the great work of the team and delivering the very best service to our members, employers and partner funds.”
Bocquet takes on the role at a good time for the scheme. Like many LGPS pools, Lothian has benefited from rising rates and is currently 106% funded.
As of March 2023, the fund had 60% of its portfolio invested in equities and 20% in real assets, it also holds 10% in LDI assets.
