Johnson & Johnson has appointed an Exelon investment director to lead its pension fund, CIO has learned.
Neil Roache, formerly director of investment strategy and public markets at Exelon, has been named CIO of the $22.3 billion corporate plan, Johnson & Johnson confirmed Monday.
Prior to joining Exelon, Roache had served in a public markets role at UPS.
Exelon CIO Doug Brown said Roache will be missed, but he will do a “great job” at Johnson & Johnson.
“Neil made a tremendous contribution to the success of the Exelon investment program,” Brown told CIO. “Personally, I am very happy for Neil as he has earned the opportunity to be a CIO.”
Johnson & Johnson ranks among the 20 public US corporations with the largest pension liabilities worldwide. As of fiscal year 2015, the fund had invested 79% in stocks and 21% in fixed income.