ACHIEVING THE OPTIMAL ASSET MIX
The asset allocation decision is by far the greatest contributor to overall investment performance in large pensions portfolios. It demonstrably dominates everything else in the long run – individual asset class performance, trading strategies, manager selection – you name it.
This leads naturally to the expectation that the lion’s share of investment resources at any pension scheme will be devoted to it, and that asset allocation choices at schemes with a similar risk/return profile will closely resemble one another. Where they do not becomes worthy of great exploration and the potential for significant performance gains.
Some of the major thought leaders in asset allocation, together with board members of many of the largest UK pensions funds and global investment firms, will come together to determine how well asset owners are harnessing the most powerful investment strategy of them all, and the great opportunities for them, their managers and advisers in transitioning to an optimal long term SAA strategy.
Presentations will address the importance of asset class returns for LGPS, corporate DB and DC schemes. The conference will be highly interactive, with free and frank exchanges of views, a focus on original and thought-provoking content, and with participants encouraged to engage and contribute proactively throughout.
Chair

Stephen Glover
Founder & Director
SG Pensions Enterprise
Keynote Speaker

Euan Munro
Former Asset Management CEO
Industry Veteran
Agenda
Morning Session
Devil’s Advocates Panel
Sonia Bluzmanis, Head of Research – External Equities, REST Super
Neil Mason, Director of Pensions, Surrey Pension Team
Bobby Riddaway, Managing Director, HS Trustees
A panel of three Devil’s Advocates will be on duty for the course of the morning.
They will pose stimulating questions to the conference speakers when invited to do so by the Moderator in each session, and give a summary of their conclusions and takeaways before lunch.
09.15 - 09.30
Welcome & Introduction
Chair & Programme Director:
Stephen Glover
Founder & Director
SG Pensions Enterprise
09.30 - 10.00
Keynote Presentation: Asset Allocation in an Era of Chaos
Euan Munro
Former Asset Management CEO
Industry Veteran
However the current geopolitical turmoil plays out, the nature and stability of the Western alliance as we have known it for the past 80 years is no more. The necessary reconfiguration of global defensive, political and trade compacts will come at enormous expense, amid great risk and uncertainty, and over an indefinite time period.
This in addition to other notable megatrends, many of which are likely to be exacerbated in the present environment – climate and nature risks, continuing migration challenges, increased urbanisation and breathtaking technological advances, especially the development of artificial intelligence, to name a few.
Our speaker will present his view on how major capital market assumptions need to modify to reflect these seismic changes, and the resulting recommendations for strategic asset allocation in institutional investment portfolios to manage the many risks and opportunities in this completely changed world.
10.00 - 10.40
Panel Discussion: Asset Allocation for the LGPS
Moderator:
Toby Nangle
Contributing Editor
Financial Times
Chris Hitchen
Chairman
Border to Coast Pensions Partnership
Philip Latham
Head
Clwyd Pension Fund
Jon Little
Chair
Local Pensions Partnership Investments
A recent article by Toby Nangle in FT Alphaville drew attention to the wide divergence in asset allocation strategies, and consequently investment performance and contribution rates, among the 87 local government pension funds in England and Wales.
Toby will moderate a panel of pension heads and advisers representing several LGPS funds each making the case for their choice of asset mix.
As the various strategies cannot all be optimal, the panel will discuss the non-investment decision factors, implications for improved future performance, ability to support the UK economic growth agenda, and overall financial health for the LGPS.
10.40 - 11.20
Panel Discussion: The Challenges for Corporate DB Schemes
Moderator:
Charlotte Moore
Freelance Journalist
Independent
Shalin Bhagwan
Chief Actuary
Pension Protection Fund
Amlan Roy
Partner – Investments
LCP
Mark Thompson
Chair of the Trustee Board
M&G Pension Scheme
The optimal asset mix for a corporate DB scheme, unless it remains open to new members, will be significantly different from the LGPS.
Many DB schemes are targeting buyout by an insurance company to secure members’ benefits, thereby seeking to derisk their portfolios especially from a legacy of equity and alternatives holdings. Others believe they can manage surplus assets more effectively by running on – maintaining or even increasing investment in higher return assets for the greater benefit of members and/or corporate sponsors.
Speakers will describe how they consider optimal asset allocation should look among various DB scheme scenarios, and the lessons learned overall.
11.20 - 11.45
Networking Break
11.45 - 12.25
Panel: The Challenges for DC Schemes
Moderator
David Porter
Head of Investment Delivery
The People’s Pension
Kathleen Broekhof
Multi-Asset Investment Director
Royal London Asset Management
Andy Cox
Chair
NatWest DC Plan
Anna Stupnytska
Head of Long-Term Investment Strategy
Nest
Similar to the LGPS, the asset mix among DC schemes varies widely. In addition, DC schemes have been constrained in achieving optimal growth strategies through a combination of costs via the charge cap, daily dealing and liquidity needs, competition from providers on cost rather than value, and the need to invest over platforms.
Our panellists will discuss how DC schemes and pension providers are seeking to overcome these barriers to develop an asset allocation strategy designed to achieve a marked improvement in future investment performance, both to and through retirement, and the key decision factors involved.
12.25 - 12.45
Presentation: UK Institutional Investor Asset Allocation - Facts and Trends
Oliver Bell
Head of Research
ClearGlass Analytics
Using an extensive UK pensions data set, our speaker will address some vital issues in asset allocation strategies. He will consider whether bigger schemes perform better than smaller schemes through scale and diversification advantages, the asset mix of the best- and the worst-performing pension funds, and the degree to which the better-performing schemes are invested in private assets.
He will demonstrate the performance of a wide range of asset classes over the last 3 years against the costs of investing in them, with some surprising results.
12.45 - 12.55
Devil's Advocates Summary
The Devil’s Advocates will give their summary of the main lessons, conclusions and action points from the morning session.
12.55 - 13.55
Lunch
Afternoon Session
Devil’s Advocates Panel
Diane Maxwell, Former Retirement Commissioner for New Zealand
Ian McKinlay, Chief Investment Officer, Medical Protection Society
Mitesh Sheth, Former CEO Redington | Former CIO Newton IM
A panel of three Devil’s Advocates will be on duty for the course of the afternoon.
They will pose stimulating questions to the conference speakers when invited to do so by the Moderator in each session, and give a summary of their conclusions and takeaways at the end of the afternoon.
13.55 - 14.35
Panel: The Promise of Private Markets
Moderator
Mark Hedges
Trustee Director
Nationwide Pension Fund
Martin Bailey
Head of Strategic Engagement
City of London Corporation
Veronica Humble
Chief Investment Officer
NatWest Cushon
Neil Mason
Director of Pensions
Surrey Pension Team
The argument is accepted at many pension schemes that a greater allocation to private market investments is likely to have a material positive impact on long term performance.
Meanwhile the UK Government has well-articulated plans to encourage pensions schemes to deploy capital far more extensively in UK investment opportunities, especially in VC and private assets.
The panel will discuss both the practical challenges of building a significant allocation to private markets and how these vary between LGPS and Corporate schemes, as well as the expected benefits.
Hurdles to overcome include fiduciary duty obligations, fulfilling performance objectives, choosing the appropriate investment vehicle and the right manager(s), and the legal and structuring work involved.
14.35 - 15.00
Fireside Chat: Navigating the Climate Transition in Institutional Investment Portfolios
Moderator:
Stephen Glover
Founder & Director
SG Pensions Enterprise
Louise Kooy-Henckel
EMEA Head of Sustainable & Transition Solutions
BlackRock
Saurabh Katiyar
Head of Index Solutions Research, EMEA
MSCI
Our speakers will discuss why European institutional investors view sustainability as important within institutional portfolios and strategic asset allocation, and how best practice can be defined. In doing so they will explore the importance of the energy transition from a long-term risk-return perspective, identifying key descriptors and indicators to capture the energy transition investment opportunities effectively.
Equally they will discuss how sustainability features in every major asset class, the opportunities as perceived through the sustainability lens, and the trade-offs inherent across different portfolio decarbonization timelines.
15.00 - 15.40
Panel: Embracing Climate and Nature in the New World Order
Moderator
Marian D’Auria
Global Head of Risk & Sustainability
GFG Alliance
Murray Birt
Senior ESG Strategist
DWS
Mirko Cardinale
Head of Investment Strategy & Advice
USSIM
Mike Clark
Founder Director
Ario Advisory
Mark Hill
Climate & Sustainability Lead
The Pensions Regulator
Most pension schemes remain firmly committed to environmental risk mitigation in their governance approaches and investment strategies. However, strong headwinds prevail, especially as the political will to meet climate targets has weakened in lockstep with the need to prioritise economic growth.
This has two primary consequences: survival strategies for a warmer world must be seriously considered, while the focus of action has shifted towards the private sector and to investable outcomes more than legislative mandates. For the former, decision-useful economic scenarios are being developed, while nature may lead the way for the latter – for one example many businesses can see the need to invest in water quality and sufficiency as a core expense.
Our panel will debate how asset allocation strategies will need to be adapted to reflect these challenges.
15.40 - 16.05
Networking Break
16.05 - 16.50
Roundtable Discussions: Transforming Investment Performance
Following a scene-setting introduction, a Moderator at each table will lead a discussion on the key changes to governance structures, investment beliefs, decision criteria, manager selection and the resulting asset mix that delegates consider necessary to produce a step change in investment performance at their funds, taking account of the different priorities and constraints for LGPS, DB and DC schemes.
Several of the Moderators will be called upon to summarise their conclusions to the overall conference.
Facilitator:
Mitesh Sheth
Former CEO, Redington | Former CIO, Newton IM
Roundtable Moderators:
Robert Branagh, Trustee Director, Creative Pension Trust
Chris Giles, Consultant – Investment Solutions, Independent
Anne Glover, Chair, Bank of England Pension Fund
Douglas Hansen-Luke, Executive Chairman, Future Planet Capital
Mark Hedges, Trustee Director, Nationwide Pension Fund
Andrew Krousti, Head of Pensions, Capgemini
Ian McKinlay, Chief Investment Officer, Medical Protection Society
Sofia Perkonigg, Trustee Director, UBS Pension Fund
Kathryn Saklatvala, Content Specialist, SG Pensions Enterprise
Mark Tennant, Trustee, Country Landowners Pension Fund
Mark Thompson, Chair of the Trustee Board, M&G Pension Scheme
16.50 - 17.20
Presentation: The Geoeconomic World View - Bringing Order to the Chaos?
Nicolas Firzli
Director General
World Pensions Council
Beyond Cold War II rhetoric, US and Chinese policy planners already agree on what is truly at play: the emergence of an age of geoeconomics where traditional barriers separating geopolitics from the financial world are collapsing.
Expect trade and investment to be weaponised by both superpowers and entire sectors like energy utilities, electric vehicles, microchip foundries and civilian aircraft to be relabelled as ‘dual use’ and subject to severe investment restrictions, import duties and tariffs. The pensions CIO of the future will need to act like a conductor, incorporating diverse, multi-disciplinary approaches – many of them non-financial – to minimise investment risks and seize new opportunities across asset classes and geographies.
Our speaker will explain how, in this new paradigm, investors will need to strike a delicate balance between cooperation with governments to access key investment opportunities, while simultaneously ensuring those same governments do not infringe upon fiduciary duty and investment due diligence when determining asset allocation strategies.
17.20 - 17.30
Devil's Advocates Summary
The Devil’s Advocates will give their summary of the main debating points, conclusions and action points from the afternoon session.
17.30 - 17.35
Chair's Closing Remarks
17.35 - 19.15
Drinks Reception
Speakers

Martin Bailey
Head of Strategic Engagement
City of London Corporation
Martin Bailey

Head of Strategic Engagement
City of London Corporation
He was a lead architect of the Mansion House Accord and the Compact before it, working across government and industry to unlock billions in pension fund investment into productive assets.
At the City of London Corporation, he leads engagement with institutional investors, global firms, and policymakers. He also chairs the £2bn Lambeth Pension Fund, pushing forward investment in private markets, climate risk, and good stewardship.

Oliver Bell
Head of Research
ClearGlass Analytics
Oliver Bell

Head of Research
ClearGlass Analytics
He joined in 2021 and has responsibility for market analysis, value for money benchmarking and industry trends.
Oliver is a Doctoral Candidate starting in 2022 at the University of Leeds, researching “Pricing Dynamics in Institutional Asset Management”, focusing on uncovering fee trends and paradigms amongst asset owners/managers/advisors, in public and private markets.

Shalin Bhagwan
Chief Actuary
Pension Protection Fund
Shalin Bhagwan

Chief Actuary
Pension Protection Fund
At PPF, he brings extensive pensions, insurance and investment experience, having previously worked at DWS Investments since 2018, and other companies across the sector for many years. He originally started his career in South Africa in life insurance pricing and reserving and then transitioned into liability valuations for defined benefit pension funds.
In addition, he brings significant LDI, derivative and credit portfolio management experience and has advised some of the UK’s largest pension funds on their LDI strategies both as a consultant with Mercer and portfolio manager with Legal & General Investment Management.
Shalin is a member of the Advisory panel at the Financial Reporting Council. He recently served as a member of the Institute and Faculty of Actuaries’ Finance and Investment Board and as an advisory member for the task force to boost socio-economic diversity at senior levels in both the financial and professional services sectors.
Shalin is a Fellow of the Faculty of Actuaries and holds an Honours Degree in Statistics and Actuarial Science from the University of Cape Town.

Murray Birt
ESG Senior Research Analyst
DWS
Murray Birt

ESG Senior Research Analyst
DWS
Prior to his current role, Murray worked at a Group level in Deutsche Bank, supporting senior management leadership in the area of climate finance and implementing the Bank’s climate change business strategy. He previously worked with companies to develop consensus policy positions, published papers and lobbied UK and European governments on energy and climate change policies at the Confederation of British Industry (CBI).
Murray began his career in consulting, policy research and program support for energy efficiency, renewable energy and carbon markets in Alberta, Canada.
He holds a B.A. in Economics from the University of Calgary and a M.Sc. in Environmental Change and Management from the University of Oxford. He also holds the UK Investment Management Certificate (IMC).

Sonia Bluzmanis
Head of Research, External Equities
Rest Super
Sonia Bluzmanis

Head of Research, External Equities
Rest Super
Sonia joined REST from BT Investment Group in May 2021, initially to take on the role of Head of Global Equities, with responsibility for managing REST’s 20Bil+ global equities asset class, the fund’s largest asset class by funds under management.
In 2022, Sonia relocated to London and was promoted to Head of Research, External Equities to lead the equity research program, providing advice on manager selection and construction, and market insights.
With over 17 years’ experience in investment management, Sonia has held senior roles specialising in investment research, fund manager selection and portfolio construction in several major financial institutions. Sonia holds a Bachelor of Commerce and a Bachelor of Arts (Asian Studies), with majors in Finance, Economics and Chinese (Mandarin) from Curtin University in Western Australia and holds the Certified Investment Management Analyst (CIMA) designation.
Established in 1988, REST is among the largest superannuation funds in Australia by membership, with approximately 1.9 million members and almost AU$90 billion in assets under management.

Robert Branagh
Trustee Director
Creative Pension Trust
Robert Branagh

Trustee Director
Creative Pension Trust
Robert helped transition the Office of the Paymaster General from a public to a private sector outsourcing business in the late 1990s and worked with Cabinet Office to establish the joint venture which became My CSP. He has also managed the back office or pension functions for several large pension schemes, including the NHS, Civil Service, Royal Mail Statutory scheme, and the Railways Pension Scheme.
Until October 2024, Robert served as the CEO of the London Pensions Fund Authority, a £6.5bn fund within the LGPS. He is also a Non-Executive Director at the Local Pensions Partnership Administration limited and the Ministry of Defence, where he chairs the Armed Forces Pension Schemes. He is also a Trustee of the Creative Pensions Trust Master trust and a Governor of the Pensions Policy Institute.
He is a frequent speaker at pensions and employee benefits events and is a regular contributor to the UK pensions industry press. He is a Fellow of the Pensions Management Institute and has been both Chair and President during his service there. He is also an Accredited Member of the Association of Professional Pension Trustees.

Kathleen Broekhof
Investment Director
Royal London Asset Management
Kathleen Broekhof

Investment Director
Royal London Asset Management
She most recently worked at Schroders having started in February 2011 as a Solutions Manager helping to provide interest rate and inflation hedges to UK pension funds before moving to the Multi-Asset team in October 2019 to work as Investment Director.
Kathleen started her career in banking at TD Securities in a variety of roles including risk management, eventually becoming Vice President and Director of the structured interest rate derivatives groups before moving to asset management in 2007 at HSBC Global Asset Management as an LDI Quantitative Analyst.
Kathleen holds an Honours Bachelor of Mathematics from the University of Waterloo in Canada. She is an Associate of CISI and has completed the Canadian Securities Course and Canadian Options Course from the Canadian Securities Institute.

Mirko Cardinale
Head of Investment Strategy & Advice
USSIM
Mirko Cardinale

Head of Investment Strategy & Advice
USSIM
Prior to his role at USSIM, Mirko was Head of Asset Allocation-EMEA at Russell Investments where he was responsible for designing model portfolios and reviewing the asset allocation of EMEA funds. Before his appointment at Russell, Mirko was Head of Strategic Asset Allocation and Multi-Asset Fund Manager at Aviva Investors, where he was overseeing the asset allocation positioning of UK life and pension funds, as well as managing the DC default fund for the Aviva Staff Pension Scheme.
Prior to his role at Aviva Investors, Mirko was also a senior investment consultant at Watson Wyatt (now Towers Watson), where he built an offshore research team in Uruguay, and a Research Manager at Financial Times Business.
Mirko holds a PhD in Finance from Imperial College, London with a thesis on the interrelationships between pension funding and capital markets, an MSc in Economics from Universitat Pompeu Fabra, Barcelona and a BSc in Economics from Università Bocconi, Milan.
Mirko’s mother tongue is Italian and he is also fluent in Spanish, Portuguese and French.

Mike Clark
Founder Director
Ario Advisory
Mike Clark

Founder Director
Ario Advisory
Among his roles, he represents IFoA (actuaries) on the Sustainable Finance Advisory Council at the Oxford Smith School and sits on the WHEB Asset Management independent Advisory Committee. He has recently left the Brunel (LGPS) board, where he was a NED (chairing Audit&Risk, more recently Remco), and he was Specialist Adviser to the House of Commons Environmental Audit Committee for their 2018 Green Finance inquiry.

Andy Cox
Chair
NatWest DC Plan
Andy Cox

Chair
NatWest DC Plan
Until 2019, Andy spent 30 years at Aon as an actuarial and Investment consultant, was a member of the Global Retirement & Investment Leadership and CEO of Aon Hewitt Ltd in the UK. He also sat on the Aon Global Operating Committee.
In his spare time, Andy enjoys skiing and scrambling with his family and has recently passed his private pilots license. He is also looking forward to more success supporting Wales on the rugby pitch.

Marian D’Auria
Head of Risk & Sustainability
GFG Alliance
Marian D’Auria

Head of Risk & Sustainability
GFG Alliance
Prior to joining GFG, she was a Managing Director at Redington and before that led Deloitte’s Trustee Advisory team in London.
Her experience covers pension risk management, sustainability, trusteeship, scheme actuarial work, corporate advisory and investment consulting.

Nicolas Firzli
Director General
World Pensions Council
Nicolas Firzli

Director General
World Pensions Council
He has co-developed notions such as ‘SDG–Driven Investment’, ‘Pension Superpowers’, the ‘Age of Geoeconomics’, ‘Employee Capitalism’, and chaired the Pensions and Asset Owners Roundtable at the 2015 UN Climate Change Conference (Paris COP21 Summit/Paris Agreement).
Nicolas is a graduate of Canada’s McGill University (Statistics & Financial Economics), an alumnus of the HEC Paris School of Management (MBA Corporate Strategy & Marketing) and the University of Paris Law School (LL.M. Corporate Law) and has conducted research at the University of Louvain (UCL) Doctoral School of Economics and Management in Waals Brabant (Belgium).
He is a regular contributor to BBC News (Asia), Asharq News with Bloomberg, the Arabian Gulf financial news network, RTÉ, Ireland’s National Television and Radio Broadcaster, and Cairo TV (Qahera News).
He is also active in ecumenical, intercultural dialogue, nonalignment, & the promotion of peaceful, inclusive sustainable development endeavours in Britain, the European Union (EU) and the Greater MENA–APAC continuum.

Chris Giles
Consultant - Investment Solutions
Independent
Chris Giles

Consultant - Investment Solutions
Independent
He began his career with Clerical Medical & General Life Assurance Society before moving on to F&C and Hill Samuel Investment Management. Subsequently attracted to the investment funds arena, Chris became a specialist in closed-ended structures.
Drawing on over 40 years’ experience, his focus is now on developing innovative propositions aimed at delivering better retirement outcomes. The UK pensions industry isn’t providing DC pensions – it is accumulating money for ‘savers’ who then must find their own way of accessing ‘retirement pots’. They should be provided with solutions that deliver a stable income throughout their retirement.
Chris has highlighted a fundamental flaw in the current DC structure – retaining pot conversion ‘at retirement’ creates a dangerous and unnecessary cliff-edge risk in a world of pension freedoms. Investment strategy should change as retirement approaches, but not in the way currently characterised as ‘lifestyling’ – a different solution would deliver better outcomes.

Anne Glover
Chair
Bank of England Pension Fund
Anne Glover

Chair
Bank of England Pension Fund
Early in her career, Anne lived in the US, working in manufacturing with Cummins Engine Company and in strategy consulting with Bain & Co, before returning to the UK to join Apax Partners in 1989 to invest in Early Stage companies. She became COO of one of her investee companies, Virtuality Group, after it listed on the London Stock Exchange in 1993, and then returned to investing as a business angel before co-founding Amadeus in 1997.
A former Chairman of the British Private Equity and Venture Capital Association and Invest Europe, Anne was appointed Non-Executive Director of the Court of the Bank of England in 2018 and in 2019, she became a member of the Investment Committee of Yale Corporation, which is responsible for oversight of the Yale University Endowment. In 2021, Anne was appointed as an external member of the Venture Capital Investment Committee of British International Investment, the UK’s development finance institution.
Anne holds an MA degree in Metallurgy & Materials Science from University of Cambridge and a Master’s degree in Public and Private Management from Yale School of Management. She was awarded a CBE in 2006 for services to business; and in 2008 made an Honorary Fellow of the Royal Academy of Engineering. In 2021, she became a Fellow of the Royal Society of Edinburgh and in 2023 became an Honorary Fellow of Clare College, Cambridge. In 2024, she was appointed to the Advisory Board of the Science and Technology Venture Capital Fellowship programme.

Douglas Hansen-Luke
Executive Chairman
Future Planet Capital
Douglas Hansen-Luke

Executive Chairman
Future Planet Capital
He spearheaded FPC’s investment and a $100m+ syndicate into Barinthus Bio (formerly Vaccitech), the Oxford spinout behind the Oxford-AstraZeneca COVID-19 vaccine, which prevented the deaths of over 6 million individuals.
Of the 50 portfolio companies within Global Growth, Douglas has particularly investments into NeoVac, Nutri-San and Pragmatic Semiconductors.
With nearly 20 years of experience in emerging markets, Douglas has overseen the deployment and marketing of over $13bn across emerging asset classes. His career includes leadership roles at Robeco (CEO for ME, Africa & Central Asia), bfinance (Board Advisor and CEO for ME, Africa & Central Asia), ABN AMRO Asset Management (Far East, Global & Regional roles), and Bain & Company (Eastern Europe and UK privatisation in the 1990s).
Douglas advises global institutional investors on university venture and emerging asset classes. He has authored book chapters for the Financial Times and appeared as a speaker on the BBC’s Today programme, Bloomberg, and CNBC.

Mark Hedges
Trustee Director
Nationwide Pension Fund
Mark Hedges

Trustee Director
Nationwide Pension Fund
Previously, he led the establishment of Nationwide’s Covered Bond programme and its Silverstone RMBS Master Trust funding vehicle. In addition, Mark has securitised UK Student Loans and a synthetic corporate bond structure along with structured transaction and investment in various ABS instruments. Past experience also includes leading the origination and structuring of social housing, PFI and commercial real estate debt transactions.

Mark Hill
Climate & Sustainability Lead
The Pensions Regulator
Mark Hill

Climate & Sustainability Lead
The Pensions Regulator
Mark is actively involved in work across government and the sector from the Climate Financial Risk Forum to the Transition Plan Taskforce in support of sustainable finance and better outcomes for savers.
Prior to joining the TPR, Mark worked for the Ministry of Defence (MoD) within the Defence Infrastructure Organisation, where he led on climate change and sustainability. During his time at MoD, Mark contributed to the Defence Climate Change and Sustainability Review, which ultimately led to the publication of the Climate Change and Sustainability Approach in 2021.
In tandem, he developed a Defence Energy and Emissions Strategy, and was involved in work to mobilise third party capital to invest in renewables across the Defence estate, before attending COP26 as part of the Cabinet Office’s COP26 Unit.
Just before leaving the MoD to join TPR, he was busy supporting across sector work to integrate climate risks into sustainable land management and specifically brownfield land development.

Chris Hitchen
Chairman
Border to Coast Pension Partnership
Chris Hitchen

Chairman
Border to Coast Pension Partnership
He was one of the inaugural Trustees at Nest, a 9 million member DC scheme, and returned to its Board in 2018, where he chaired the Investment Committee. Chris was also corporate Chair at the Pension SuperFund, an initiative to consolidate private sector DB pension schemes.
Chris was a Board member for the Toronto-based International Centre for Pensions Management, and for the UK’s Investor Forum, a conduit for strategic dialogue between companies and investors, and an outcome of the Kay Review, on which Chris served.
Chris is an Actuary, a Past Chair of the Pensions and Lifetime Savings Association and an Honorary Fellow of the CFA Society of the UK. He and his wife Pip have four mostly grown-up sons and in his spare time, Chris runs marathons slowly.

Veronica Humble
Chief Investment Officer
NatWest Cushon
Veronica Humble

Chief Investment Officer
NatWest Cushon
Prior to this role, she was Head of DC Investments at Legal and General Investment Management and held a number of roles across LGIM’s Investments and Distribution before that.
She started her career as a quantitative analyst in Phoenix Group. She has MSc in mathematics and a PhD in statistics.

Saurabh Katiyar
Head of Index Solutions Research
MSCI
Saurabh Katiyar

Head of Index Solutions Research
MSCI
He is responsible for research to support new and existing indexes and risk models, including factor, ESG, climate, thematic and economic exposure indexes, as well as performance and risk attribution. He also serves as an ambassador to asset owners, asset managers and wealth managers on the role of indexes and factor models in asset allocation and portfolio construction.
Prior to MSCI, Saurabh was working for Nomura in the Quantitative Equity Strategy team. In this role, he was responsible for carrying out thematic research and financial modelling to generate investment ideas and recommend factor allocation with a view on the macro environment.
Saurabh graduated from the Indian Institute of Technology, Kanpur with a Bachelor’s degree in Chemical Engineering and is also a CFA charter holder.

Louise Kooy-Henckel
Head of Sustainable & Transition Solutions
BlackRock
Louise Kooy-Henckel

Head of Sustainable & Transition Solutions
BlackRock
She leads the team responsible for BlackRock’s Sustainable and Transition strategy and commercial platform in EMEA, which includes driving cross-functional initiatives across the firm, leading engagements with clients and other external groups, and power sustainable product ideation that address clients’ evolving needs.
Together with the STS team, Louise focuses on deepening relationships with clients to anticipate rapidly evolving industry trends and regulations shaping sustainable and transition investing.
Louise brings over 25 years of asset management and sustainable investing experience and most recently led Wellington Management’s Sustainable Investing product platform and initiatives in EMEA. Louise also served as an Investment Director on Wellington’s Global Impact Team and built multiple solutions in both public and private markets (2016-2023).
Prior to joining Wellington Management in 2016, Louise spent 20 years at JPMorgan Asset Management where she was a managing director and head of the Global Equities Client Portfolio Management team in EMEA (1997-2016). During her time there, she also served as a Client Advisor in the firm’s institutional client group. Prior to her long association with JPMorgan Asset Management, she held of number roles with State Street in Germany and Australia (1994-1997).

Andrew Krousti
Head of Pensions
Capgemini
Andrew Krousti

Head of Pensions
Capgemini
He considers pensions to be all about engaging with people to improve their future financial security. He has managed many types of pension arrangements for very different organisations with unique attributes.
Andrew’s work has included:
– Innovative pension solutions – with focus on digitisation, simplification and effective communication
– DB schemes – closures, de-risking liabilities, long term objectives, endgame, s75 debt, New Fair Deal
– DC arrangements – auto re-enrolment, pension freedoms, investment changes, Master Trusts, aim for better outcomes
– HR Teams – Reward matters, group risk benefits, annual pay reviews, impact on high earners of Annual & Lifetime Allowance changes

Philip Latham
Head
Clwyd Pension Fund
Philip Latham

Head
Clwyd Pension Fund
During this time he has worked with an in house team and external advisors who have recommended and implemented changes to the Clwyd Fund’s governance, funding, investment and administration strategies.
Over the 27 years, the value of the Fund has increased from £300m to over £2.3bn and the investment strategy and approach to managing investment risk has significantly changed.
Recreationally, Phil can be found supporting Everton and Chester FC or making investments at various racecourses.

Jon Little
Chair
LPP Investments
Jon Little

Chair
LPP Investments
Jon is the founder and managing partner of Alderwood Partners, an asset management advisory firm, and was previously Managing Partner of Northill Capital, a $91bn AUM fund management business which he founded in 2010 before leaving in late 2019 and then selling his stake in the business in 2020.
From 2000 to 2010, Jon was the Vice Chairman and CEO of BNY Mellon’s international asset management business and Chair of Dreyfus, the US mutual fund manager and of Insight, now one of Europe’s largest asset management firms.
From 1991 to 2000, he worked for Fidelity Investments and subsequently for J P Morgan. Jon also has extensive board governance experience across multiple regulated markets including UK, US, Europe, Australia and Asia.
He has been a non-executive director of Jupiter Fund Management and Quilter plc where he also Chaired Quilter investors. Jon also Chairs Causeway Securities, a global structured products business.

Diane Maxwell
Former Retirement Commissioner
New Zealand
Diane Maxwell

Former Retirement Commissioner
New Zealand
Now a London based consultant and trustee for the Financial Times Trust, a Non-Executive Board member of 4G Capital Group, and Consumer Representative on the CII Professional Standards Committee, she continues to work on the theme of financial resilience for individuals, households, and businesses.

Ian McKinlay
Chief Investment Officer
Medical Protection Society
Ian McKinlay

Chief Investment Officer
Medical Protection Society
He previously served as the Chief Investment Officer at Lloyds Banking Group Pensions, overseeing some £40bn of assets across both DB and DC sections. He joined Lloyds from Aviva, where he carried out a similar role.
Prior to that, he was the CIO of the Pension Protection Fund. Ian is also a member of the actuarial profession’s Finance and Investment Board, while also being Chairman of EPFIF’s Pension Fund Investment Advisory Committee.

Neil Mason
Director of Pensions
Surrey Pension Team
Neil Mason

Director of Pensions
Surrey Pension Team
Neil believes excellence in service delivery is best achieved through an integrated pension service with equal emphasis on all elements of the business, and a laser focus on the customer.
The Surrey Fund has received pension industry acknowledgement for its outstanding approach to risk management, governance, responsible investing and most recently, administration.
Neil is a member of the PLSA Policy Board, and its Local Authority Committee. He is also the Independent Chair of the Local Pension Board for the London Borough of Hounslow, and an Independent Advisor to the Local Pension Board of the South Yorkshire Pension Authority.
He is the father of twin boys who are both off doing far more interesting things than he ever did at university. In his spare time, he supports Queens Park Rangers and three putts.

Charlotte Moore
Freelance Journalist
Independent
Charlotte Moore

Freelance Journalist
Independent
She writes for a number of well-respected trade magazines. She examines how institutions like pension schemes and insurers allocate capital.
Investing to protect the planet and improve society is one of her areas of expertise and she holds regular salons, where panellists are invited to debate different sustainable institutional investment topics. She is often asked to moderate panel topics at external conferences.

Euan Munro
Former CEO
Newton IM
Euan Munro

Former CEO
Newton IM
Euan is a seasoned investment management investor with a background in macro investing. As a CEO for over a decade, he has strong executive experience, having served as a FTSE100 and Fortune 500 executive.
Euan holds a first-class honours degree in Physics from the University of Edinburgh, and is a Fellow of the Faculty and Institute of Actuaries. He is also a graduate of the Advanced Management Program at Wharton Business School, Philadelphia.
All views expressed are his own and do not necessarily represent those of his employer.
Outside of work, Euan enjoys spending time with his family, trying to keep fit by playing golf and running, and walking in the Scottish hills with his wife and deerhound dog, and is an active member of his local church.

Toby Nangle
Contributing Editor
Financial Times
Toby Nangle

Contributing Editor
Financial Times
He spent 25 years in the asset management industry, most recently as Global Head of Asset Allocation at Columbia Threadneedle, where he led an award-winning asset allocation investment team of 26 professionals, based across four time-zones, managing c$160bn AuM for a range of institutional and retail clients.

Sofia Perkonigg
Trustee Director
UBS Pension Fund
Sofia Perkonigg

Trustee Director
UBS Pension Fund
Before joining UBS, Sofia was the Managing Director for the LifeRisks business at RMS, the leading global catastrophe risk modelling firm. At RMS, Sofia led a team of actuaries and consultants helping global insurers manage their longevity and mortality risks.
Sofia graduated with a Master in Finance and Banking from Strasbourg Business School and a Master in Management Research from the University of Strasbourg. Sofia holds the Investment Management Certificate delivered by the UK CFA society.

David Porter
DC Solutions Specialist
Independent
David Porter

DC Solutions Specialist
Independent
David has over 30 years experience in asset management and pensions solutions, including senior roles at Mobius Life, AllianceBernstein, Sun Life of Canada Asset Management, Xafinity, Aon Consulting and Capita Hartshead.
As Chair of the PASA Master Trust Working Group, and a regular contributor to industry working groups, David sees a strong sense of purpose and drive in the industry at a time of technological innovation and information empowerment.
Focused and practised at complex problem solving in the DC workplace solutions and investment management industry, David views the current opportunities the industry face as potentially huge game changers for savings and outcomes.
If there is one thing which drives David forward every day, it is being in an industry doing the right things to improve member outcomes.

Amlan Roy
Investment Partner
LCP
Amlan Roy

Investment Partner
LCP
In his previous 25 years, he has served a wide range of global institutional clients (pension funds, insurance companies, SWFs, asset managers, central banks, government treasuries, hedge funds and private equity firms).
He is an experienced Global Macro-Finance Researcher specialising in Global Macroeconomics & Demographics. His book Demographics Unravelled published in January 2022 was mentioned by the FT as one of the best new books in Economics.
He is a Research Associate at LSE’s Research Centres – the Financial Markets Group and Systemic Risk Centre, as well as a Singapore FinTech Festival Ambassador and an elected Honorary Fellow of the Institute and Faculty of Actuaries.
Previously, he was Head of Global Macro Research and Senior MD at State Street Global Advisors and Chief Retirement Strategist, MD and Head of Global Demographics & Pensions Research at Credit Suisse Investment Bank.
As a global EM strategist, he developed global risk & allocation models as an expert on Financial Architecture during the Asian & Russian crises.
He spent a decade in academia with a distinguished teaching career in the US and UK. He was a UK ESRC Research Fellow, Ponders Fellow, a Boston University Doctoral Scholar and a Government of India National Scholar.

Bobby Riddaway
Managing Director
HS Trustees
Bobby Riddaway

Managing Director
HS Trustees
Bobby is a qualified Actuary and a council member of AIMSE. He is a past Chair of the Association of Consulting Actuaries Investment Sub-Committee and has also served on the Finance and Investment Board of the Institute of Actuaries.
He is a past winner of the MallowStreet Most Influential Investment Advisor Award, and has also twice won the industry Battle of the Bands, as a Bass player.
Bobby is also a regular speaker on pensions issues at various conferences, and has participated as a judge for a number of industry awards. He has held leadership roles in areas including ESG, professional standards and governance, asset liability modelling and liability driven investment.

Kathryn Saklatvala
Content Specialist
SG Pensions Enterprise
Kathryn Saklatvala

Content Specialist
SG Pensions Enterprise
She currently works on an independent basis for several firms, including SG Pensions Enterprise, supporting the development of high-quality thought leadership and marketing/communication strategies. She has over seventeen years of experience developing content for institutional investment audiences. Formerly Head of Investment Content at global consultancy bfinance (a firm she still supports as Senior Advisor) and, prior to that, Managing Editor of Institutional Investor Networks at Euromoney Institutional Investor plc.
She is CEO of TenSen Content Limited (formerly Kathryn Saklatvala Consulting), founded in 2016. She is a frequent contributor to industry and non-industry press and conferences (Financial Times, BBC World Service, Pensions & Investments, IPE, OECD, Responsible Investor, Private Equity Investor, etc.).

Mitesh Sheth
Former CEO Redington
Former CIO Newton IM
Mitesh Sheth

Former CEO Redington
Former CIO Newton IM
He has recently founded OrgAlpha, a boutique consultancy, helping forward-thinking CEOs, founders and Boards to align the potential within their people and technology, to solve problems that really matter.
Professionally, Mitesh has held a number of leadership positions, including CEO of Redington, Chief Investment Officer for Multi-Asset at Newton Investment Management and Head of Fixed Income at Henderson Global Investors.
Personally, he has many interests including acting and he will performing in his eldest daughter’s five-star rated play ‘the Expulsion of Exulansis’ at the Edinburgh Fringe Festival this summer, to raise awareness for teenage mental health.

Anna Stupnytska
Head of Long-Term Investment Strategy
Nest Corporation
Anna Stupnytska

Head of Long-Term Investment Strategy
Nest Corporation
Before joining Nest in early 2025, Anna spent 10 years at Fidelity International as Global Macro Economist. There, she played a key role within the Global Macro & Strategic Asset Allocation team, guiding investment decisions across asset classes through in-depth research on macroeconomic trends and market dynamics.
Prior to this, Anna was Macroeconomist at Goldman Sachs, contributing first within Global Investment Research and later in Asset Management – where she was part of the influential team behind the BRICs framework. She started her professional journey in 2004 at Merrill Lynch’s Investment Banking division.
Anna holds a First-Class MA (Hons) in Economics from the University of Cambridge and a Distinction-level MPhil in Economics from the University of Oxford.

Mark Tennant
Trustee
Country Landowners Pension Fund
Mark Tennant

Trustee
Country Landowners Pension Fund
He was until recently the Chairman of Centrica Pension Funds, and Chairman of Scottish Land and Estates, after spending 28 years with J.P. Morgan Chase as a Senior Adviser, and CFO of the Global Custody Division.
Prior to that, Mark was at Hill Samuel, Fidelity and Hambros Bank, and served as the Conservative Party candidate against Gordon Brown in 1992 and against Winnie Ewing for the European seat of the Highland and Islands in 1994.
In the late 80’s, Mark served as the Treasurer for the Conservative Party for Scotland, and the Treasurer for the Better Together Campaign under Alistair Darling in 2014. He also served seven years in the Scots Guards, spent a year nursing in India, and is an Officer of the Queen’s Bodyguard in Scotland.
Away from work, his main interests are history, travel and Scottish music, particularly the Highland Bagpipe, which he plays.

Mark Thompson
Chair of Trustees
M&G Pension Scheme
Mark Thompson

Chair of Trustees
M&G Pension Scheme
Prior to this, he held a number of senior investment roles at Prudential/M&G. These included UK Equity Fund Manager, Head of Equity Research, Director of Collective Investments, and Investment & Strategy Director for Prudential Europe.
Venue
This event will be held at the Victory Services Club in London.
Plan your journey via Transport for London.
Nearest Tube/Underground Stations (Tfl)
Marble Arch (Central Line - 5 minutes)
Edgware Road (Circle, District, Hammersmith and City lines - 13 minutes, Bakerloo line - 15 minutes)
Bond Street (Central, Jubilee and Elizabeth lines - 14 minutes)
Nearest Train Stations (National Rail)
Paddington (16 mins)