Newsmakers
London CIV CIO Aoifinn Devitt to Step Down
The investment chief announced her resignation less than a year into the role, following significant turnover at the fund.
Reported by Matt Toledo
Aoifinn Devitt, CIO of the London CIV, the asset pooling company for Local London Government Pension Scheme assets, will step down from her position at the end of the year, according to a letter distributed to shareholders on Thursday and confirmed by a CIV spokesperson. Devitt was appointed to the role in early January. In the interim, between Devitt leaving the role and a successor being appointed, Rob Treich, head of public markets at CIV, will assist in the oversight of the investment team.
“While Aoifinn may be moving on, as one of the leading thought leaders within the LGPS, I know she will continue to help London CIV on its journey as the investment partner of choice for our partner funds,” said Dean Bowden, CEO of London CIV, in a statement. “With Rob’s support, we will continue to maintain momentum in the planned program of launches and development of our service offering, during the transition to a new CIO.”
London CIV has suffered significant turnover in its leadership. Devitt’s successor will be the fund’s fifth CIO since 2017. In 2019, former UBS CIO Mark Thompson was appointed as CIO of the CIV but resigned from the position within weeks. Devitt succeeds Jason Fletcher, who held the role from 2020 through 2023.
Prior to her appointment at CIV, Devitt was CIO of U.S.-based wealth adviser Moneta Group and was previously CIO of the Policemen’s Annuity and Benefit Fund of Chicago between 2016 and 2019.
As of March 31, 2023, the London CIV fund managed 14.3 billion pounds ($18.57 billion) in assets across 22 funds.
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