The chief executive of LGPS pool Brunel Pension Partnership has quit her role, citing the need for a “different style of leadership”.
In an announcement today, Brunel announced that Dawn Turner will step down from the helm in September.
Turner was appointed to the role in July 2017 when the pool began operations, and was involved previously in setting it up.
A statement from Brunel said: “As Brunel moves on to the next stage of its development, Dawn has indicated that it needs a different style of leadership to take it to the next level of becoming a fully formed investment management company.”
The statement said that Turner, along with the pool’s board, has been developing the strategic needs of the company as it moves towards the post-transition phase of its development.
Brunel’s statement said: “For the past four years, Dawn Turner has been the key person to set up Brunel, from the early stages of the idea of pooling to setting up an FCA regulated company.
“She has done so with vision, drive and commitment and has developed a strong culture of openness, collaboration and transparency.”
The board will soon begin the process of recruiting their next CEO to build on the solid foundation established.
Turner is planning to move into a “portfolio career” after her spell in charge at Brunel comes to an end, according to the statement.
“Denise Le Gal, chair of Brunel and the non-executive directors, whilst sad to see her go, respects this decision,” the statement said.
“They will wish to give Dawn appropriate thanks for her delivery as a strong change agent and strategist who has driven Brunel’s success and is on track to deliver a minimum £550m in savings.
Brunel’s annual report published in January said that last year the pool transferred around £6bn of assets under management into five available passive equity portfolios with Legal & General Investment Management.
Another pool chief executive, Hugh Grover, resigned from London Collective Investment Vehicle in December 2017 and was replaced on an interim basis by Mark Hyde-Harrison.
In January a permanent successor, Mike O’Donnell, was appointed.
