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WPP ImCo appoints CIO and senior executive

(Andrew Johnston, CIO WPP)

Wales Pension Partnership, the newly launched investment management company, has appointed key leadership roles in investment and finance, as it prepares for FCA authorisation.

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The pool, which manages the assets of the eight LGPS funds, has appointed Andrew Johnston to lead its investment team. Johnston joins from Hymans

An increase in assets and improving funding levels paint a positive picture for the LGPS, but changes to contribution rates, valuation assumptions and costs reveal a more complex financial outlook.