BT Pension Scheme Management (BTPSM) has announced the appointment of Wyn Francis as chief investment officer (CIO) with immediate effect.

Francis succeeds Frank Naylor in the role, who is retiring on 30 June after 16 years. Naylor will remain with BTPSM until his retirement, working towards completing a “range of key projects”.

Francis joined BTPSM in 2008 as head of investment risk, becoming deputy CIO in 2014.

In his role as deputy he was responsible for portfolio implementation, including manager selection and oversight of the in-house managed LDI portfolio, and worked with Naylor on portfolio construction.

Prior to working for BTPSM, Francis spent 10 years as a consulting director at PwC and KPMG, where he managed teams responsible for providing market and trading risk management advice.

He also spent over 10 years structuring and trading interest rate derivatives, and manging fixed income portfolios for Credit Agricole and Credit Lyonnais before his work for PwC and KPMG.

Commenting on the appointment, BTPSM CEO, Morten Nilsson, said: “Wyn is uniquely placed to take the reins as CIO and has unparalleled knowledge of the unique challenges facing the scheme.

“We thank Frank for his long service to the scheme, for his significant contribution over the years and for his expertise, calm head and wise counsel.”
 
Francis added: “Having worked alongside Frank for many years, I am delighted to be succeeding him as CIO.

“There are exciting times ahead for BTPSM as we work towards achieving our net zero goal, continue to build on our successful investment approach and transition towards an income generating portfolio with a strong focus on sustainable investments.”

BTPS is the UK’s largest company pension scheme, with over £57bn of assets and around 280,000 members, paying out around £2.5bn in pensions and other benefits each year.

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