New investment chief at leading responsible investor Pension Protection Fund

Pensions lifeboat hires senior Morgan Stanley executive

The Pension Protection Fund, the UK’s more than £13bn (€15bn) pension lifeboat fund which is a leading advocate of responsible investment, has named a new chief investment officer (CIO).
Barry Kenneth joins the PPF from investment banking giant Morgan Stanley, where he is Head of UK Fixed Income Institutional and Pensions Coverage.
“Our investment portfolio has become increasingly sophisticated and has received considerable industry recognition for its innovation and performance. We believe that Barry will bring to the PPF the expert knowledge and extensive experience needed to build on that success,” said the fund’s Executive Director of Financial Risk, Martin Clarke.Clarke is also chairman of UKSIF, the social investment forum which launched its inaugural Ownership Day this week.
Writing in Responsible Investor yesterday, Clarke pointed out that active ownership is an important part of the PPF’s risk management process.
Kenneth joined Morgan Stanley in 2004 and was formerly Head of its European Pensions Group.
In November, the PPF appointed seven farmland and timberland fund managers.

In October it named Hermes Equity Ownership Services as its new voting and engagement advisor – meaning a loss for incumbent F&C and its Responsible Engagement Overlay (REO) offering.