Theodore Economou will not run for re-election as CEO and chief investment officer at the European Organization for Nuclear Research Pension Fund, Geneva, he said in a telephone interview. Mr. Economou said his current term ends in August 2015, and he will not seek reappointment. However, he will help the 4 billion Swiss franc ($4.5 billion) pension fund choose a successor.
Mr. Economou joined CERN in October 2009 and restructured the pension fund’s return-based approach. “What I was brought in here to accomplish has been done — to reposition the portfolio to a risk-based strategy,” Mr. Economou said. “It is all about delivering the highest possible returns for … the least possible risk.” He said he will help in the search for his successor, which will “probably start in a few months.”
His next step, Mr. Economou said, will involve him “spread( ing) the gospel about this model. I would like to help other pension funds get the benefit of that model. I really do think there is a lot of opportunity in this space. The challenge (for pension funds) is to reconcile the high risk-adjusted returns with risk control and keeping fees at (an acceptable) level.”
Pensions & Investments / CP CERN