London CIV has appointed former Ruffer CEO Clemmie Vaughan as an Independent Non-Executive Director (INED), while Baroness Kitty Ussher has been reappointed for another three-year term.
Vaughan brings extensive investment, institutional and leadership experience. From 2017 to 2021, she led Ruffer, overseeing the investment manager’s growth, internationalisation and digitisation as it reached £25 billion in assets under management and a team of 350.
Alongside her leadership experience, she has a long-established track record of investing globally across equities, bonds, real estate, digital currencies, credit and gold. She is currently Chair of CG Asset Management, a Non-Executive Director of Wren Sterling and Chair of its DFM business, Magnus.
Mike Craston, Chair of London CIV, said: “I am delighted that Clemmie is joining the London CIV Board. She brings a wealth of investment expertise and leadership experience, having led one of the UK’s best-known investment firms through a period of significant growth. Her experience and institutional perspective will be hugely valuable as London CIV continues to grow and develop.”
Vaughan’s appointment follows a period of significant growth and development for London CIV. In 2026 alone, as part of the Government’s new pooling requirements, assets under its pooling framework have increased by two thirds (66.2%), from £38.5 billion in March 2026 to more than £64 billion in September 2026.
At the same time, London CIV has continued to broaden its capabilities, including the launch of its Strategic Asset Allocation (SAA) service, as well as LGPS PASS (Pension Advisory and Support Services), which provides Partner Funds with access to specialist pension expertise and support.
On her appointment, Vaughan commented: “I am delighted to be joining the Board at such an important time for the LGPS. London CIV has already delivered significant change for its Partner Funds through pooling and is continuing to develop its investment and advisory capabilities. I look forward to working with the Board and management team to build on that progress for Partner Funds and, ultimately, the members who rely on them.”
Vaughan’s appointment followed a recruitment process led by London CIV, with the Board focused on complementing its existing skills and experience as the organisation’s role and responsibilities expand under the new LGPS pooling framework. She officially joined the London CIV Board on 1 November 2026, succeeding Yvette Lloyd, who stepped down in July 2026. London CIV would like to thank Yvette Lloyd for her significant contribution to the Board and her commitment to the organisation during her tenure.
Alongside Vaughan’s appointment, Baroness Kitty Ussher has been reappointed as an Independent Non-Executive Director for a final three-year term. An economist and former Treasury minister, she brings deep experience across public policy, financial services and regulation, and was appointed to the House of Lords in July 2026.
Mike Craston, Chair of London CIV, added: “I am also delighted that Kitty has agreed to serve a further term. Her deep understanding of public policy, regulation and financial services continues to strengthen the Board’s work. Together, Clemmie’s appointment and Kitty’s reappointment strengthen the breadth of experience on our Board as London CIV enters its next phase of development.”
About Clemmie Vaughan
Clemmie (Clementine) Vaughan is Chair of CG Asset Management, a Non-Executive Director of Wren Sterling and Chair of its DFM business, Magnus. She has more than 15 years’ experience in asset management. From 2017 to 2021, she led Ruffer, overseeing the growth, internationalisation and digitisation of the investment management firm as it reached £25 billion in assets under management, 60% of which were institutional, and a team of 350. Alongside her leadership roles, she continued to manage portfolios while leading Ruffer and has investment experience across global equities, bonds, real estate, digital currencies, credit and gold. She also brings significant institutional and investor relations experience, alongside expertise across markets, workforce management, risk management, remuneration, digitisation, data and client management.
About Baroness Kitty Ussher
Baroness Kitty Ussher is an economist and former Lambeth councillor, MP and Treasury minister who now sits in the House of Lords. Her executive experience includes Chief Economist at the Institute of Directors and Group Head of Policy Development at Barclays. She has also served as a Non-Executive Director at Revolut UK and as a member of the Financial Services Consumer Panel of the Financial Conduct Authority. In July 2026, she was made a life peer as Baroness Ussher of Burnley and now sits in the House of Lords on the Labour benches.
For more information, email richard.odonnell@londonciv.org.uk