About

Natural History Museum, Kensington & Chelsea

A Collective Investment Vehicle for London Local Authorities (LLA) Pension Funds which delivers broader investment opportunities and enhanced cost efficiencies than LLAs can achieve individually and overall better risk adjusted performance.

Launched in December 2015, we are unique in being the first fully authorised and regulated investment management company set up by local government, for local government the UK. Our founding members are London boroughs and the City of London Corporation and we have been established as a collective investment vehicle for their Local Government Pension Scheme funds.

As the first quarter of 2018 drew to a close the LCIV’s assets under oversight had grown to a little under £15 billion, which represents around 40% of the 32 London Local Authorities’ total assets under management. A further £1billion has been committed to LCIV funds for transitioning during the second quarter which will take the number of LLAs using the funds made available through the LCIV to 30. We are continuing to develop and launch new funds. A sustainable equities fund will go live in April with a multi asset credit strategy scheduled to launch in June. Further fixed income funds are planned for later in the year subject to commitments being received.

Board

Bob Kerslake
Lord Bob Kerslake
Chair

Lord Kerslake was appointed Chair of London CIV in September 2015. In addition to this role, he is Chair of London’s King’s College Hospital NHS Foundation Trust. Lord Kerslake is President-Elect of the Local Government Association.

A former Head of the Civil Service, Lord Kerslake led the Department for Communities and Local Government (DCLG) from 2010 to 2015.

Before joining the Civil Service Lord Kerslake received a knighthood for his services to local government, spending eight years serving the London Borough of Hounslow and then a further 11 years leading Sheffield Council.

Mark Hyde Harrison
Mark Hyde Harrison
Chief Executive

Mark Hyde Harrison is the interim Chief Executive Officer of the London CIV since November 2017. Mark has over 30 years’ experience in investment management, defined benefit and defined contribution pensions. Mark led the transformation of a top 10 UK pension fund into one of the top pension funds in Europe. He also held positions as Director of Pension Infrastructure Platform and Chair of the National Association of Pension Funds.

Mark developed the defined contribution business strategy for a leading global consultancy, Willis Towers Watson and was the Chief Executive Officer of Barclays UK Retirement Fund. Mark has represented the pensions industry at the highest levels of Government in the UK and Europe.

Brian Lee
Brian Lee
Chief Operating Officer

Brian Lee is the Chief Operating Officer of London CIV as well as the Compliance Officer and Money Laundering Reporting Officer. Brian is a Chartered Accountant and has been responsible for the management and operation of substantial investment management and fiduciary services businesses including the asset management division of a major bank, a FTSE 250 wealth manager, and a NYSE listed hedge fund and private equity manager.

Brian has deep experience in the set up and operation of investment management businesses and has been responsible for the operation and compliance of collective investment schemes under FSMA 2000 since 2005.

Chris Bilsland
Chris Bilsland
Non-executive Director

Chris is a non-executive director for London CIV. His experience with the LGPS dates back to 1991 when as the Somerset County Treasurer he was responsible for the Somerset Fund. He previously served as the Chamberlain of London where he was responsible for the finances of an organisation with turnover in excess of £500m p.a. and property and investment assets of over £4bn.

Chris has worked in both the public and private sector. He has been an advisor to the LGPS Scheme Advisory Board, was President of CIPFA from 2011/2012 and received the OBE in 2014 for his services to local government finance. In February 2015 he was appointed as the Chair of Lewisham Southwark FE College.

Carolan Dobson
Carolan Dobson
Non-executive Director

Mrs. Dobson has over 30 years’ experience in investment, pensions and financial markets and has held positions as trustee, chairman and non-executive director for pension schemes and investment trusts. She has a strong understanding of governance matters, with particular regard to investment, and has a strong working knowledge of risk and controls. In her career she has worked as a fund manager, head of research.

In her capacity as an independent investment adviser, Mrs. Dobson advises numerous local authority pension scheme in addition to non-executive director appointments for five investment trusts and private sector pension fund appointments. She is Chairman of Nest’s ISC.

Eric Mackay
Eric Mackay
Non-executive Director

Eric Mackay has over 18 years’ experience in investment management, where he has held a number of senior roles in authorised firms. Eric spent fourteen years at F&C Asset Management where he was Chief Risk Officer and in 2013 joined TT International. At TT Eric is a Partner of the firm and Chief Operating Officer.

Eric has extensive experience providing oversight and bringing appropriate independent challenge within an investment firm managing over £100bn of assets. He also has a range of other relevant experience, including responsibility for the risk management framework, legal, compliance and operational functions.

Paul Niven
Paul Niven
Non-executive Director

Paul is Head of Multi-Asset Investment at BMO Global Asset Management, which manages in excess of £180bn. He has over twenty years of investment experience and is Fund Manager of the FTSE 250 listed Foreign & Colonial Investment Trust, one of the largest Investment Trusts in the UK.

Paul has invested across a wide range of traditional and alternative asset classes and has experience across a number of relevant areas including manager and product selection, strategic and tactical asset allocation as well as risk and portfolio management.

Linda Selman
Linda Selman
Non-executive Director

After almost 40 years in financial services, Linda retired in 2016. She is an actuary who has spent almost her entire career in a wide range of investment roles, including managing fixed income and derivative portfolios for a mutual life company where she was ultimately Group Investment Manager.

After a period as a client director for a fund management company she spent the later stages of her career as an investment consultant providing advice to pension funds in both the private and public sectors, including London boroughs. She contributed to the research on the establishment of investment pools for the LGPS.

Team

Luke Bates
Luke Bates
Client Relations

Luke joined London CIV in May 2018 working within the Client Relations team.

Working within the investment sector for 9 years previously holding roles within Northern Trust and BNY brings a great understanding of the operation aspect of investments but with a high level of client focus.

Luke will be supporting the team in maintaining relationships and assisting the London Local Authorities, stakeholders and advisers with the administration of their investments.

Larrisa Benbow
Larissa Benbow
Head of Fixed Income

Larissa joined London CIV in June 2017. Prior to this she was a Senior Manager of Portfolio Construction at AustralianSuper and Head of Investments for the HBOS Final Salary Pensions Scheme (AUM £13.2bn) at Lloyds Banking Group where she spent seven years.

During her time at HBOS FSPS, Larissa worked with the Board to establish a diversified asset allocation with a strong risk focus including significant investment in alternatives. Larissa worked at market risk house APT SunGard before moving into investment management roles.

She enjoys travelling, scuba diving and playing softball.

Chloe Crouch
Chloe Crouch
Clients Relations Executive

Chloe became Clients Relations Executive in June 2017, having previously worked with the Client Relations Director since November 2016.

Chloe plays a key role supporting the team in managing communications and relationships with the London Local Authorities, their advisers and stakeholders.

Prior to working at the London CIV, Chloe worked in the recruitment industry for 8 years, managing relationships with both internal and external clients in a busy environment to tight deadlines.

She has a BA (Hons) from the University of West London.

Kevin Cullen
Kevin Cullen
Client Relations Director

Kevin joined the London CIV as Client Relations Director in November 2017. He has over 25 years’ experience in investment management gained at UBS and State Street Global Advisors(SSGA) and has been heavily involved with the LGPS sector throughout his career.

At SSGA he was a Senior Relationship Manager for a portfolio of local authority and blue chip corporate pension fund clients. He was also heavily involved in new business development across a wide range of asset classes and also led initiatives to improve product and service delivery to clients.

Robert Hall
Robert Hall
Head of Equity

Robert Hall joined LCIV in October 2017 as Head of Equity. Previously he worked at Lloyds Banking Group as Head of Return Seeking Assets for the pension schemes, with £45bn AUM. In this role, Robert was responsible for managing the Growth and Alternative investments encompassing a wide array of different asset classes.

Prior to this, Robert worked at Standard Life Investments, where he built and helped manage the Multi-Asset Fund of Funds platform, which grew to £6bn in AUM by the time of his departure.

He has an MSc in Investment Management from Cass Business School, a BSc (Hons) in Mathematics from Bristol University and has passed CFA level 1 and 2 exams.

Charlotte Hamilton
Charlotte Hamilton
Head of Fund Accounting

Charlotte joined London CIV in September 2017 taking on the role of Head of Fund Accounting. She is a chartered accountant (ACA) with a breath of experience in the investment management sector.

Before working at the London CIV Charlotte was a Fund accountant at BlueBay Asset Management, having previously been an audit manager at PwC. In these roles she was responsible for the set up and oversight of various projects including IT system implementations, process efficiency reviews and training offshore service providers. She also holds the Investment Management Certificate.

In her spare time Charlotte is usually planning her next holiday and recently completed the Tour du Mont Blanc.


Lorraine Hendrickson
Lorraine Hendrickson
Programme Director

Lorraine became the Programme Director of London CIV from July 2015 having worked on the London CIV regulatory framework since December 2014 within Deloitte’s Investment Management Advisory practice. Lorraine has 20+ years global investment management experience (London, US, Hong Kong). Prior roles include Chief Administrative Officer for Global Distribution at BNY Mellon.

Lorraine has a wide range of experience in strategic planning, operations and programme management across Front, Middle and Back Office, as well as line experience in fund accounting and performance management analytics. Prior to London CIV she worked for Deloitte, BNY Mellon and Merrill Lynch Investment Management.

Kristina Ingate
Kristina Ingate
Chief of Staff

Kristina joined London CIV in May 2018. As Chief of Staff she is responsible for governance, the company secretariat, and strategic planning.

Her governance, regulatory and senior management expertise and experience has been gained across a wide range of sectors, including transport (Highways England), housing (Peabody Housing), and financial services. Her career includes experience of organisations serving the London Local Authorities area, including the City, Inner and Outer London boroughs.

She is a Chartered (Company) Secretary FCIS with an MSc in Corporate Governance and Business Ethics, together with qualifications in marketing and business administration.

Deborah Jardine
Deborah Jardine
Team Assistant

Deborah joined London CIV in November 2017, she provides administrative help to the wider team including assisting the client relations team with report presentation.

Prior to working at London CIV Deborah worked for Eurostar as an Engineering Administrator and London Underground as a Document Controller.

Deborah has studied for an Executive PA Diploma and has 18 years’ experience in administration, document control and customer service.


Eirene Massow
Eirene Massow
Executive Assistant to the CEO

Eirene joined London CIV in September 2017 taking on the role as Executive Assistant to the CEO and Office Manager.

With over 18 years’ experience in PA, Team Support and Office Manager roles she is a natural organiser.

Before working at London CIV Eirene worked as PA to the Vice President of Unilever Brands and side-lined into a SharePoint Implementation Analyst role.

Other places of work include Berkeley Homes, Fidelity Investment, LiquidityHub. Eirene also has a Diploma in Business and Finance.

Ryan Smart
Ryan Smart
Investment Analyst

Ryan joined London CIV in 2016 as an Investment Analyst. He’s currently leading the charge on real assets at the CIV with an initial focus on providing Infrastructure solutions within private equity.

He started his career on the graduate scheme at Columbia Threadneedle Investments where he rotated between two placements; the first was on Threadneedle’s Multi-asset team in which he worked under the global head of Multi-asset. He then spent six months on the UK sales desk.

Whilst at university Ryan interned on the multi-asset desk at Janus Henderson, and in the commercial banking department at Lloyds Banking Group.

Ryan graduated from Cardiff University in 2015 with a first class degree in Economics (BSc hons) and has recently passed the CFA level I exam.