New investment chief at Royal Mail scheme

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Mike Weston was named head of investment at the £1.4 billion ($2.3 billion) Daily Mail & General Trust Pension Scheme, London, said Geoffrey Staines, pensions director.

Mr. Weston replaces Paul Haines, who had been investment director but left for a similar role at the £1.3 billion Trafalgar House Pensions Trust, London, in November, Mr. Staines said. A Trafalgar House spokesman said the fund plans to announce the appointment of a CIO, a new position, in November, but would not elaborate.

Mr. Weston was an investment director at Hermes Fund Managers, which manages the assets for its parent, the £29.3 billion ($39.5 billion) BT Pension Scheme, London. Calls to Hermes were not returned by press time.