New CIO for London's Largest Pension | Chief Investment Officer

Chris Rule 2 Chris Rule, CIO, LPFAChris Rule has been appointed CIO of the London Pension Funds Authority (LPFA) six months after the incumbent left the role.

Rule joined the executive team of the £4.9 billion fund in October, according to the fund. He has held a range of senior positions in asset management in a career spanning 15 years, most recently as head of alternatives at SEB Investment Management.

Prior to this he was a principal at Old Mutual Asset Managers where he founded and co-managed the multi-strategy team.

His appointment comes six months after the sudden departure of Alex Gracian, who had been in the role a little more than two years. This exit came shortly after that of former CEO Mike Taylor, who had led the fund for several years.

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The LPFA invests the retirement assets of several London boroughs and carries out administration functions for many others. Current CEO Susan Martin said this year that she would be building up its internal investment capability. In 2013, financier Edi Truell took over as chairman of the LPFA.

Related content: Largest London Pension Loses CIO

The Alberta Investment Management Corporation (AIMCo) has hired former Pyramis Global Advisors’ chief Kevin Uebelein as CEO, CIO has learned.

Uebelein replaces Leo de Bever as head of the $70 billion Canadian fund, which manages sovereign wealth, pension, and general government assets. The organization announced last April that it had begun recruiting for de Bever’s seat.

The new hire will join the Edmonton, Alberta-based Crown corporation after five years as CEO and president of Pyramis, the institutional asset management arm of Fidelity Investments. Prior to his role at Pyramis, Uebelein served as CIO of Prudential’s international division and, before that, managing director of the insurer’s private asset management group.

His hiring fills a vacuum of sorts at AIMCo, which a few months prior to de Bever’s resignation also lost its deputy CIO.

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Jagdeep Bachher departed the fund for the University of California in January, where he took over the $81 billion portfolio as CIO.

Like Bachher and de Bever, Uebelein brings international experience to AIMCo. He began his career as an oil industry auditor in Houston, Texas, before joining Prudential in 1986.

An AIMCo spokesperson declined to comment on the appointment when reached by CIO.

Related Content: AIMCo to Replace CEO de Bever