Hansjörg Gurtner, formerly with Winterthur Columna, has been appointed as head of Complan, the pension fund of Swiss telecommunications group Swisscom.

His first priority will be the search for portfoliomanagers and a global custodian for the fund, with Complan hoping to commence its investment process in January, upon receipt of the Sfr3bn ($2.3bn) in credits it is to receive from the Swiss government.

Expected asset allocation for the fund is put at a 30% equity ratio and will be implemented with regard to market trends.

Zurich-based PPCmetrics has been appointed as the fund's external advisor and Dominique Amman, partner at the company sees no specific problems delaying the start date. The authorities will not intervene, even if their liabilities are not completely covered on condition that the investment strategy is reasonable," he says."