Church of England Pensions Board appoints chief executive

The Church of England Pensions Board (CEPB) has appointed John Ball as its new chief executive, starting on 1 July.

Ball’s appointment follows the unexpected death of former CEPB chief executive Bernadette Kenny last October.

Jonathan Spencer, chair of the CEPB, said: “John brings a wealth of experience and a thorough understanding of the need and challenges faced by many of our key partners, having worked as CEO for one of the Church’s largest and most diverse dioceses.”

Ball is currently chief executive and secretary for the diocese of Chelmsford, having joined in 2011. The diocese covers the church’s work in east London and the county of Essex.

He gained a degree in philosophy, politics and economics from the University of Oxford before joining London Underground, part of Transport for London. He spent 11 years with the transport organisation, where he became head of strategy and asset management.

The CEPB provides pensions for clergy and church workers and its schemes have over 38,000 members.

It made a record investment return of 21.2% for the 2016 calendar year on a portfolio currently worth £2.4bn (€2.7bn). Assets are split between return-seeking (80%) and liability-matching (20%) pools.

As at 31 December 2017, equities made up 67% of the CEPB’s total portfolio, real estate 10%, fixed income 9% and infrastructure 6%.

Pierre Jameson, chief investment officer at CEPB, recently spoke to IPE about the church’s investment strategy.