Pension Insurance Corporation (PIC) has appointed Rob Groves as chief investment officer (CIO).
Groves joins from Friends Life where he was CIO overseeing assets of more than £100bn.
He has also worked for UBS, Commerzbank and Towers Watson.
At PIC he will oversee the insurer’s £14bn portfolio, including asset and liability management, manager selection and interest rate and inflation-hedging strategies.
PIC’s portfolio is primarily invested in investment grade corporate bonds, UK government debt and cash.
PIC deputy CEO Tracy Blackwell said: “We are delighted Rob is joining us. He brings a wealth of experience to the CIO role which will benefit the company as we manage an expanding portfolio.”
Groves added: “I am very much looking forward to becoming CIO at PIC, joining what is acknowledged in the industry as a first class team. With a rapidly growing portfolio, a focus on customer service and strong values, this is an exciting opportunity at a very attractive place to work.”
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