BA Pensions names new chief ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.
This week’s top stories included Barnett Waddingham’s appointment of eight partners, while British Airways Pensions announced the outsource of in-house investment operations to BlackRock.
Intensifying regulation, rising operational costs, and increasingly complex investments were cited by the beleaguered airline.
British Airways Pensions has transferred management of its two main retirement systems totaling nearly $30.4 billion (£21.5 billion) in assets to the outsourced chief investment officer (OCIO) business at BlackRock.
The transfer is among the largest of its kind in the United Kingdom, the firm said Wednesday. The agreement affects assets under the Airways Pension Scheme (APS) and the New Airways Pension Scheme (NAPS), as well as more than 85,000 members.
“This agreement is the necessary next step in the evolution of the Schemes as they look to enhance their respective investment strategies, working toward their funding goals,” Roger Maynard, chair of trustees at APS and NAPS, said in a statement.
BlackRock to run €24bn British Airways pension schemes citywireselector.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from citywireselector.com Daily Mail and Mail on Sunday newspapers.
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Pensions Regulator Head Approved Despite Fears Of Conflict
Law360, London (April 26, 2021, 2:27 PM BST) Senior MPs have given greenlighted the appointment of Sarah Smart to be chairwoman of Britain s pensions watchdog, despite concerns over a potential conflict of interest with her husband as boss at one of the country s largest workplace schemes.
The House of Commons Work and Pensions Committee expressed its satisfaction on Friday with a potential fix offered by Smart at a hearing earlier in the week.
She said that her spouse, Fraser Smart, the chief executive of British Airways Pensions, would step down from his role by September. Meanwhile, Sarah Smart said she would recuse herself from any meetings on the British.