The pension fund for the Council of European Nuclear Research (CERN) workers is finalising changes to its trustee management and staffing arrangements, as Richard Balfe is now a director of the fund, and a new manager is joining to head up the plan team.
Balfe, who has many years of pensions experience as chairman of the Members of the European Parliament (MEP) pension fund, has also joined the €4bn Swiss-based scheme’s board this year as one of two specialist external directors, following a shake-up of the fund’s governing structure.
His appointment also came ahead of changes to the scheme’s internal management, as Christian Cuénoud, the current head of the pension fund, is due to retire later this year, and enters the transition phase on 1 September when his replacement, Mr T Económou, becomes general manager of the pension fund.