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London CIV appoints new Chair

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Mike Craston has been appointed as Chair designate of London CIV, in succession to Lord Kerslake. The appointment is subject to FCA approval, but Craston is expected to take over the role in September 2021. Craston brings with him considerable experience of the investment sector and pension asset management, including the local Government Pension Scheme (LGPS).

Craston is Chair and a Non-Executive Director of Aviva Investors Holdings Limited, a GBP300 billion asset manager that provides Investment services to companies in the Aviva group and to external Institutions. He is also Non-Executive Chair of the Railpen Investments Board, the body responsible for overseeing the activities of RPMI Railpen and additionally, Craston serves as Trustee and Chair of the Investment Committee at Independent Age, a charity providing advice on care and support, money and benefits, and on, health and mobility. Prior to this, he held a number of roles at Legal and General, Aegon Asset Management, Scottish Equitable, and Schroders.

Mike O’Donnell, CEO, says: “I am really pleased that Mike is joining us as we develop our strategic plan in collaboration with our Client Funds, his work will be fundamental in making sure we have the investment solutions Client Funds and beneficiaries need to create a sustainable future”.

Cllr Yvonne Johnson, says: “It was important to London CIV to appoint a Chair who would bring deep knowledge of investment management, an insight into the requirements of LGPS Client Funds, and an ability to work collaboratively with the diverse stakeholders we have at London CIV. I expect Mike’s past and current experience to provide a strong basis from which to do so.”

Craston says: “I’m delighted to be joining London CIV and to have the opportunity of joining at this exciting next stage of its development. I wish to thank the outgoing Chair, Bob Kerslake, for all the hard work he has put in to guiding London CIV from its first days in 2015 to where it stands today, and all the progress that has been made to date. I am looking forward to working with the team, Client Funds and the London CIV’s broader stakeholders.”

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