Appointments update - 12 June 2020

Local Pensions Partnership (LPP) has appointed Jo Darbyshire as managing director of its new administration subsidiary.

In her new role at LPP Administration Ltd, Darbyshire will be responsible for building a strong, sector-leading pension administration service, focused on delivering increased operational efficiency for clients, tailored and effective member communications, and robust risk and data management. Darbyshire joined LPP last year as director of pensions administration, with the company stating that she has improved performance against overall service agreements and seen staff engagement levels increase among the team of over 200 people.

Lane Clarke & Peacock (LCP) has hired Stephen Budge as a principal for its defined contribution (DC) team.

He has more than two decades of experience working across the DC landscape, with a particular focus on innovative investment strategies for DC schemes. Budge joins the team from Mercer, where he worked for 5 years as a principal DC investment consultant, and has previously served as head of DC investment at KPMG LLP. LCP DC team head, Laura Myers, said pension schemes were looking for advice and support “now more than ever” amid the coronavirus pandemic, adding that it was “fantastic to have Steve’s expertise and knowledge joining our team at this time”.

Tesco Pension Investment (TPI) announced that Danny Firth will replace Steven Daniels as CEO when he retires in March 2021.

Firth has over 30 years’ experience in financial services, having held numerous senior operations and transformation roles at investment managers, such as Legg Mason and Threadneedle Asset Management, and global banks, including JPMorgan and BNP Paribas. He will step into the top job in place of Daniels, who has led TPI since it was formed in 2012 and also currently serves as chief investment officer (CIO). Head of private markets, Jenny Buck, has been promoted to deputy CIO and will take on the top investment position following Daniels’ retirement. She joined TPI in October 2011 and has previously held positions at Grosvenor, Erste Bank and Schroders.

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