NETHERLANDS – Barclays Global Investors principal Patrick Groenendijk has left to become head of investments at the €5bn Pensioenfonds Vervoer, the industry-wide transport sector pension fund.

Groenendijk, 37, started at BGI in March this year, and was responsible for strategic client relationships in the Benelux. He left in October.

Before this, he was at Dutch metal industry pension fund PME for three years.

Groenendijk heads up Vervoer’s new Schiphol-based executive office established at the start of November - where the scheme’s investments and pension administration activities are managed.

“We are starting from scratch. It’s challenging and exciting,” Groenendijk told IPE.

He has taken over responsibility for the overall investment portfolio, is involved in the co-ordination of ALM studies, and advises the board on policy matters, amongst others.

Groenendijk is heading up an interim team made up from small Dutch-based consultancies.

“This is a unique opportunity to head up investment in a sizeable pension fund,” said Groenendijk.

Pensioenfonds Vervoer ranks among the 10 largest Dutch industry-wide funds. Groenendijk stated that the fund’s board recently approved the decision to manage the investments of the pre pension fund, which will take the assets under management to more than €6bn.

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