NETHERLANDS – PGGM, Hollland’s second-largest pension fund, has appointed Else Bos as chief investment officer and executive director – taking over from Roderick Munsters, who is joining ABP.

Bos, who is to start her new job on March 15, joined the E60bn fund in November 2002 as director of third-party management, operations and staff at PGGM Investments.

She comes to the job with a strong banking background. Before joining PGGM in Zeist the 45-year-old spent two years as co-head investments of NIB Capital Asset Management. Prior to NIB, she worked as chief operating officer for ABN Amro Asset Management.

Bos is to succeed Munsters, who will become chairman of ABP Investments on March 1.

Commenting on the appointment, Hans Alders, chairman of PGGM’s board of governors, said: “Finding a successor for so vital a position from within the organisation can be seen as the best way of guaranteeing the successful investment policies of PGGM.”

Karel Noordzij, chairman of the board of executive directors, added: “I’m looking forward to Else joining us. She has a broad experience in the investment world and is known as an inspiring manager.”

Her appointment makes Bos one of the most powerful women in the Dutch financial world, where it is still rare to see women in top positions.

Speaking on the topic of women in pensions to IPE last year, Bos said: “I have never had as many women around me at work as I have now. We have five directors of investment, and two of them are women.”

She told IPE her choice for a full-time career was made a lot easier because of her “very emancipated” family base. “If you cannot rely on your partner to do certain things, a full-time career is out of the question.”

PGGM is responsible for the pensions of over one million employees, 165,000 pensioners and 600,000 former employees in the healthcare and social work sector.


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