Edmund Truell has been appointed the new chairman of the London Pensions Fund Authority (LPFA) by London mayor Boris Johnson.

The LPFA is the largest local government pensions scheme provider in London and one of the largest in the UK. The LPFA is home to some 200 "not for profit" employers, with more than 80,000 members and fund assets of £4.2bn.

Truell is the founder the Pension Insurance Corporation; a leading provider of risk management solutions to UK defined benefits pensions funds, and has 28 years of experience in pensions, private equity and debt markets.

Mayor Boris Johnson, said: "I am delighted to appoint Edmund Truell to this vital role. Edmund brings a wealth of experience in pensions management to build on the solid foundations laid by outgoing chairman, Anthony Mayer.

"This appointment will give further impetus to the London Pensions Fund Authority to deliver value for money for Londoners, provide long-term sustainable provision for its members and to explore new ways to invest funds including in London's infrastructure."

Truell said: "I look forward to working with the Board and executive to deliver safe and secure pensions to our members. The LPFA is already a cost effective pensions administrator for many public sector employers. We look forward to being the consolidator for many more, thereby delivering even better value for money to tax payers; and best in class service levels to members.

"By growing our assets under management, the LPFA will be better able to invest into long term infrastructure and housing assets, thereby delivering solid long term returns as well as societal benefits."

First published 18.12.2012

azeevalkink@wilmington.co.uk