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UK roundup: LGPS Central emerging market bond fund launched

By Susanna Rust2021-01-06T15:30:00+00:00 LGPS Central, one of the UK’s eight local authority pension asset pools, has launched its global active emerging market bond fund. The fund has been launched with initial investment of £630m (€684m) from four of the pool’s eight partner pension funds, namely the funds for Cheshire, Leicestershire, Nottinghamshire, and West Midlands. The pool initially indicated the fund size would be in the region of £900m. A spokesperson explained that it has been launched with less for asset allocation timing reasons. “We have had several occasions when partner funds have added to sub funds post-launch, and we are open to further investments into the fund moving forward,” he added.

Rio Tinto names Stausholm as CEO | Shipping Herald

Rio Tinto named Chief Financial Officer Jakob Stausholm as its next chief executive, defying expectations it would pick an external candidate to repair its image after its destruction of sacred Aboriginal rock shelters. The destruction of the 46,000-year-old Juukan Gorge rock shelters, while legal, sparked public and investor uproar that ultimately led to the resignation of incumbent Jean-Sebastien Jacques and two deputies. Stausholm, who joined Rio as CFO in 2018, is now tasked with the tough job of repairing strained relationships with investors and the Aboriginal community while reforming the mining company to improve oversight. Rio’s choice of an internal candidate was a surprise as most bankers and investors had expecting the company to choose an outsider to start with a clean slate.

Rio Tinto names CFO as next chief executive, defying expectations it would pick external candidate

Rio Tinto names CFO as next chief executive, defying expectations it would pick external candidate
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