Martin brings 40 years of experience to the defined benefit (DB) investment governance specialists, having worked in previous pensions roles for blue-chip multinational companies. These include as global benefits director at Tetra Pak, head of pensions and benefits at Royal Bank of Scotland, and vice-president of pensions at DHL.
He previously chaired the Pensions and Lifetime Savings Association’s benefits and investment councils – when the trade body was known as the National Association of Pension Funds – and the UK Investment Performance Committee, the consultative body for the Global Investment Performance Standard.
He is currently also managing director at Protrustee, and a trustee for the Church of Scotland Pension Schemes, a Unity Trust Bank scheme, and the Really Useful Theatres Pension Scheme. He also serves as chairman of the East Sussex Pension Fund board, and vice-chairman of the Scottish Teachers’ Pension Scheme board.
"The CMA Order for trustees to set Strategic Investment Objectives by 10th December 2019 for their investment advisers is a “game changer”.
The setting of clear objectives will result in trustee boards then wanting to measure success and judge value for money. At a time when covenant and funding are under severe pressure investments become more central and investment governance is something DB trustees/sponsors can improve. Research shows good governance can add 1-2% pa to returns.
Given the Covid-19 disruption there will be real benefits for Trustees starting this sooner than later. After all ‘What gets measured gets done’.”
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Published in IPE - 27 November 2019 by
The £4bn (€4.7bn) UK Power Networks Group of the Electricity Supply Pension Scheme (ESPS) has appointed BlackRock as fiduciary manager, following a competitive tender process run by IC Select.
Assessing your investment adviser has always been challenging! The CMA Orders demanding greater transparency of performance, fees and strategic investment objectives changes all that. Creation of a Balanced Scorecard to measure success and help judge value for money puts DB trustees in control. After all what gets measured, gets done!