(January 8, 2010) — Nick Stacey, previously at hedge fund firm Man Group, is newly on board the £16 billion ($25.60 billion) pension scheme of UK bank Barclays as associate director in its manager selection team. He will report to Andre Konstantinow, head of manager selection.
“Nick’s appointment is further evidence of our commitment to building an in-house investment team with outstanding management selection expertise, enabling us to enhance the speed and flexibility of our investment decision-making, and to react more rapidly to market conditions,” said Barclays Pension Fund chief investment officer Tony Broccardo, according to Global Pensions.
The appointment represents the increased attention that pension funds devote to the fund managers running their money, seeking out strong players among larger houses and boutiques.
As a fund, the Barclay’s pension has gradually added about 15% of its assets in hedge funds, Broccardo said to Reuters.
To contact the <em>aiCIO</em> editor of this story: Kristopher McDaniel at <a href='mailto:kmcdaniel@assetinternational.com'>kmcdaniel@assetinternational.com</a>