UK Consultant Shake Up: Two In, One Out | Chief Investment Officer

JLT Benefit Solutions’ head of manager research has left the group after four and a half years in the role—one of a trio of major moves in the UK consultant space this week.

Peter Martin exited JLT and is currently seeking new opportunities, according to his LinkedIn profile. He first joined the group in 2011, having previously spent 17 years at Aon Consulting. As well as his investment consulting roles, Martin has served on the investment committees for the Institute of Actuaries and the Association of Real Estate Funds.

A spokesperson for the company confirmed the departure, but did not say whether JLT was recruiting a replacement.

Elsewhere, Buck Consultants has promoted Celene Lee to lead its investment consulting team. Lee was previously a senior investment consultant at the firm, having joined from PricewaterhouseCoopers in August 2014.

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In her new role, Lee will be responsible for Buck’s 26 investment consulting staff. Between them the staff advise more than 750 clients with more than £20 billion in assets.

Lee said she was already seeking to expand her team further following recent new business wins.

Meanwhile, Redington has hired its first head of defined contribution (DC). Lydia Fearn joins the consultancy group next month from Barclays Corporate & Employer Solutions as head of DC and financial well-being, a newly-created role.

DC is a new market for Redington, which has previously concentrated on the defined benefit market. Co-CEO Robert Gardner said the appointment was a “key strategic appointment” for Redington.

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The Cleveland Clinic Foundation has appointed Stefan Strein as chief investment officer, after going several years without a CIO.

Strein is leaving his position as CIO at the $2.7 billion Annie E. Casey Foundation to lead Cleveland Clinic’s $12.6 billion fund. He announced the move in a LinkedIn post Monday, writing that he would start at Cleveland Clinic in two weeks.

A Cleveland Clinic spokesperson confirmed the appointment Thursday evening.

The $12.6 billion fund includes foundation assets and pension capital, according to a June 2015 financial report. It is unclear whether Strein will lead the entire portfolio, or segments of it.

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Currently, Cleveland Clinic’s highest ranking investment officer is George Mateyo, who has served as senior director of investments since 2010.

Cleveland Clinic has outsourced management of its assets to Strategic Investment Group since April 2009.

Strein has been at the Casey Foundation since 2005, when he was hired as an alternative investments manager. Prior to joining the foundation, he worked as a venture capitalist at Tritech Partners and NextGen Capital, making investments in technology and health care companies.

Strein serves on the investment committees of the Planned Parenthood Federation of America, Baltimore Community Foundation, and Maryland State Retirement and Pension System.

He holds a master’s degree in finance and international business from Johns Hopkins University.