London CIV, the investment pooling company managing Local Government Pension Scheme (LGPS) assets for all London boroughs and the City of London, has announced the appointment of Andrien Meyers as chief proposition officer.
Meyer, who is current head of pensions investments at the London Borough of Sutton and Royal Borough of Kingston upon Thames, will assume this newly created role.
Meyers’ appointment corresponds with a wider attempt among the pool to expand the services it provides for local authorities and the City of London, its partner funds, and shareholders.
This move comes as both the Conservative Party and Labour are advocating further LGPS integration across England and Wales. This could result in the number of LGPS funds being reduced, as Simon Hoare, most recent local government minister for the Conservatives has previously advocated.
Last month, the London Pensions Fund Authority (LPFA), which is part of the LPPI Pool commissioned Hymans Robertson to conduct a survey on the appetite for fund consolidation among London funds.
Approaching its 10th anniversary, London CIV has pooled over £30bn in assets, generating more than £70m in savings, the pool said. The organisation aims to expand its offerings beyond investment pooling to strengthen the pool’s efforts in sustaining LGPS operations, a spokesperson for the pool confirmed.
“While investment pooling across England and Wales has proved successful over the last decade, there is growing stakeholder consensus that it only forms a single component to a wider strategy required to make LGPS work more efficiently,” the pool stated.
This could see the pool expanding its services to discretionary and portfolio advisory services, based on demand from partner funds.
Meyers brings over two decades of public service experience, having held senior positions in various London councils and advisory roles in the investment industry. Among others, he played a key role in the successful integration the pensions investment/accounting/governance shared service for Kingston and Sutton.
Dean Bowden, CEO of London CIV, expressed confidence in Meyers’ ability to drive the next phase of the pool’s strategy: “Andrien’s extensive LGPS experience and dedication to member value make him ideally suited to lead our efforts in offering more choices to our partner funds.”
Meyers stated: “Having been involved with London CIV since its inception, I look forward to working collaboratively with our London Funds to innovate, generate efficiency, and prioritise the best interests of our members.”
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