SAUL Trustee Company has appointed Sue Applegarth to take over as chief executive when current CEO Penny Green retires in November.
Applegarth, who is currently chairman of Ensign Pensions Administration, will take the helm of the £1.9 billion Superannuation Arrangements of the University of London (SAUL), which has 38,000 members. As chief executive of the SAUL Trustee Company, she will also be responsible for third party administration of other pension funds.
“I have known Sue for a long time and she is someone I have admired for many years,” said Green, who announced last November she would step down from the role after almost 17 years. “She will be an asset to SAUL and I know that I am handing over to someone who will build on the solid foundations I have laid to take the team forward to greater success. I can’t think of a better person to be my successor.”
SAUL provides pensions for non-academic employees of 53 colleges and institutions with links to higher education, including most of the colleges of the University of London, Imperial College, the University of Kent, and the University of Essex.
The pension fund is one of the UK’s most sophisticated investors, and in 2012 it embarked on an innovative liability-driven investment plan. Last year, along with the Royal Mail and telent pensions, it created an index with Russell to try and measure and monitor scheme governance.
At the 2013 CIO European Innovation Awards, Green was nominated as CIO/Investment Head of the Year and SAUL was a runner up in the Corporate/Industry Pension Scheme Below €5 Billion category.
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