M&G, Hymans Robertson, Legal & General, Impax Asset Management, Nedlloyd Fund

Hymans Robertson — Catherine McFadyen has been appointed as head of pensions. In this role McFadyen will join the firm’s management board and guide the five pensions market’s business units – actuarial private, actuarial public, investment, DC consulting and TPA.  

She takes on the role from Richard Shackleton who will now be focusing on the provision of actuarial advice to Mercer’s clients and supporting various strategic initiatives within the leading pensions and financial services consultancy. 

McFadyen joined Hymans Robertson in 2003 and has been a partner since 2014. She has deep experience in the pensions market, advising large Local Government Pension Scheme (LGPS) funds and leading that area of the business.  In stepping into her new role, McFadyen will relinquish her responsibilities leading the actuarial public business unit but will retain her LGPS clients and her presence in the LGPS market.

M&G — Kerrigan Procter  has been appointed as managing director of the firm’s corporate risk solutions business. He will join M&G’s life business in January 2025 as a member of its leadership team, reporting to CEO Clive Bolton.

Procter will be responsible for spearheading M&G’s activity in the bulk purchase annuity market, building out the company’s strategic capabilities and developing a range of derisking solutions for the corporate market. The role includes M&G’s workplace pension business that manages the savings of around 435,000 workplace pension savers across 8,700 schemes in the UK.

With over 30 years of experience in insurance and investment, Procter will join from Legal & General  where he has held several executive leadership positions including CEO of its retirement and alternative asset businesses, before furthering his international experience as president of Asia-Pacific and interim CEO of LGIM America.

Impax Asset Management — The specialist sustainability asset manager has appointed Magnus Kristensen as head of Nordics, a hire that comes after Impax in July completed its acquisition of Danish fixed income manager, Absalon Corporate Credit.

Kristensen and the four portfolio managers from Absalon will be based in Impax’s new Danish office in Køge, near Copenhagen. Kristensen joins from Federated Hermes, where he was head of Nordics. Prior to this he held similar roles at Jyske Bank and Neuberger Berman. 

Formerly part of the Formuepleje Group, Absalon serves European institutional investors and Danish high net worth individuals. Impax said it has operated in the region since 1999 when it was asked by a Danish bank to design and manage an environmental fund investing in listed equities.

Viktoria von Kunow, who previously led Impax’s business development activities in the Nordics, will now focus on clients in Germany, Austria and Switzerland.

Nedlloyd Fund — Vinod Raghoebarsing has been appointed as executive board member and interim CEO at the €1bn Nedlloyd pension fund in the Netherlands. The appointment was effective 1 August 2024, with Raghoebarsing succeeding Randy Caenen. 

Raghoebarsing previously worked at Deutsche Bank where in recent years he had been head of liquidity solutions and before that director of capital markets. From 2012 to 2024, he was head of the investment committee of pension fund Deutsche Bank, which transferred to Centraal Beheer APF last year.

Caenen is now managing director at insurer Ennia in Aruba. 

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