MN, the $148.2 billion Dutch pension organization and asset manager for the PMT and PME retirement plans, faces some turbulence as it loses half of its four-member executive board next year.
Liesbeth Sinke, the firm’s chief financial and risk officer, will depart, and Hendri den Boer, director of pensions and insurance, will transfer to an asset management role within the company.
The changes will take effect February 1.
Sinke joined MN in 2016 to improve its IT department, and has also led innovations in financial policy and risk management decisions. She previously worked at NNIB, a subsidiary of ING, plus at Marsh, Aon, and ABN Amro.
“For me, it now feels like a good time for the next challenge,” she said. Sinke’s new role and company were not disclosed.
Den Boer joined MN in 2015, and said his reason for the move was to focus on content that better suits his econometrist background. He previously worked for pension insurer NN, and sits on the supervisory boards of Onderlinge’s-Gravenhage and Dutch carmaker ANWB’s pension fund ($1.7 billion).
“After almost a whole career in general management and the last few years as director of pensions and insurance within MN, I recently felt the need to shift the emphasis in my work from managing the operation to more depth and analysis,” he said, adding that he is happy that he was able to do this while staying with MN, “where I feel at home.”
MN has not named Sinke and Den Boer’s replacements, and added that these changes are not related to Norbert Hooger’s June promotion to chief executive.
Prior to Hooger’s appointment, it was determined Sinke, den Boer, and Gerald Cartigny of the asset management division, would be fulfilling that role after the former CEO, Rene van de Kieft, was scheduled to leave in July until the fund found a new head.