New Non-Executive Directors join the London CIV

London CIV is pleased to announce the appointment of two new Non-Executive Directors and an independent non-executive member of the Investment Oversight Committee (IOC). Kitty Ussher and Alison Talbot will join the Board in late September 2020. The appointment of Michael Green adds to the breadth of expertise on that Committee at an important stage in the development of London CIV.

The appointments were made following an open recruitment process which attracted significant interest from a diverse range of applicants.

Cllr Yvonne Johnson, Chair of London CIV’s Shareholder Committee and a member of the appointment panel said “I am delighted that the advertisement of our NED roles achieved such a high level of interest and that we were able to appoint high calibre candidates committed to contributing to the development of London CIV for the benefit of its stakeholders.”

Lord Kerslake said ” we were keen to appoint NEDs who would add to the breadth of experience on the Board and help us think through the company’s future strategy including how we can best serve our LGPS shareholder client funds and other stakeholders. We are really pleased to have appointed two new NEDs with complementary skills and experience, who will bring different perspectives to the board’s discussion and the NEDs work with the executive team. We also took the decision to appoint an additional member to the IOC to support us to move forward at pace in developing our fund and additional services offer to meet client needs. “

Alison Talbot biography

Alison Talbot has over 20 years’ experience in senior roles in financial services with an emphasis on asset management. Her most recent C suite executive role is as Chief Legal Officer of AEGON Asset Management Europe/Kames Capital Plc and she is a qualified solicitor and FCA approved person. Her role has included a wide range of corporate governance, fund structuring and merger and acquisition activity. Her earlier career was with Standard Life and Scottish Widows and included the project leading to the demutualisation and merger of Scottish Widows and Lloyds TSB.

She has been Chair of the Executive Risk Committee and Executive Legal and Financial Control Meeting, and Member of the Board Audit and Risk Committees for AEGON/Kames. She has been active in AEGON/Kames diversity and inclusion work.

Alison has recently been appointed Chair of an FCA regulated firm

Speaking about her appointment Alison said “ I am looking forward to serving London CIV in a non-executive capacity, drawing on my past financial services asset management experience, including in corporate governance, fund structuring and how to get the best out of the relationship with delegated investment managers, and to making use of my pension fund experience “

Kitty Ussher biography

Kitty Ussher is an economist, former Lambeth councillor and MP who served as Economic Secretary to the Treasury (City Minister) during the financial crisis of 2007-08. In parliament she was a member of the Public Accounts Committee, the 2006 Companies Act and several Finance Bill committees. She has also served on the Financial Services Consumer Panel of the FCA.

More recently, her expertise has come from public policy research consultancy, including as Chief Executive of the think-tank Demos and Managing Director of Tooley Street Research. She is currently the Chief Economic Advisor to Demos and also advises fintech firms.

Speaking about her appointment Kitty said “London CIV has an important role to play to ensure that future local government pensioners get the best retirement they can. I hope that my experience in finance and economics, plus a strong background in local London and national policymaking, is of use to the Board in helping that to happen. ”

Michael Green biography

Michael Green is currently the Independent Chair of Trustees and Chair of the Investment Committee for the Lloyd’s of London DB Pension Scheme. Prior to this pension scheme role, he was appointed in 2007 as the first Independent, non-insurance, member of the Lloyd’s of London Investment Committee, a body that provides guidance and oversight for the internal investments of the Lloyd’s re-insurance market, including the Central Fund.

Michael’s recent executive career was spent as International CEO for two American owned Asset Management firms, American Century Investments (ACI, 2008-2018) and Morgan Stanley Investment Management (MSIM). In both cases he was responsible for implementing significant strategic change that required constant engagement with stakeholders and clients. At ACI, Michael was their first non-US based employee, building an institutionally focused, $16bn AUM business from scratch, as well as leading a change in the minority owner, from a North American partner to Nomura.

The control owner of ACI is The Stowers Institute for Medical Research (www.stowers.org). The Wellcome Trust being perhaps the nearest (though much larger) UK equivalent. Michael’s active engagement with this stakeholder informed his long term interest in ESG investing and enabled his effective leadership of the project that resulted in ACI becoming a UN PRI signatory.

Michael Green said “I am really looking forward to working with the IOC at this important time for the London CIV. My investment management experience has focused on responsible investing, enabling change, customer service and communication. I hope to apply these skills in the best interests of all stakeholders”.