Venue information 



Fiduciary Management & Investment Governance for Pension Funds


10 April 2019
London – Le Meridien Piccadilly Hotel



Fiduciary Management and Investment Governance post CMA Review

08.45    :    Registration and Coffee


09.20    :    Welcome & Opening Remarks


FredFred Jaffe, Executive Director, Specialist Pension Services





09.25   :      Session 1:  Setting the Scene


  Moderator: Bob Hymas, Trustee Executive, BESTrustees






Jay IonsJay Ions, Executive Director, Goldman Sachs Asset Management


How is Fiduciary Management Changing? 

Looking at how Fiduciary Management is developing in the UK and the issues facing trustees post CMA review. Based on a recent survey, the focus will be on how trustees want to develop their fiduciary management relationship to improve asset management for their funds. 



Adrian FurnhamProf. Adrian Furnham, Principal Behavioural Psychologist, Stamford Associates


Advice vs. Delegation: A Psychologist's Perspective

The decision to outsource to a fiduciary manager requires a clear self-assessment of the trustees’ investment abilities and the time they can commit to investment issues. Questions of trustee board dynamics and the interplay with key stakeholders are also very relevant. This talk will look at the typical problems of boards and their consequences. It will go on to consider how to select fiduciary managers: that is what traits, skills and abilities characterise success (compared to investment consultants) and how to evaluate them. The talk will also consider the experience of incorporating the input of psychologists in the selection and monitoring of investment managers.


10.40     :    Coffee/Tea


11.10     :    Session 2: Information & Monitoring for Trustees


Moderator: Roger Brown, Founder & Director, IC-Select






 Jane KarczewskiJane Karczewski, Head of Global Custody, HSBC Global Banking and Markets


How Custody is Changing 

This talk will highlight the role of a custodian in the governance of pension fund assets. Discussions include how innovations in technology are helping to independently evaluate a portfolio in areas such as risk, performance and compliance. With an increasing regulatory burden how can a custodian provide necessary information and transparency for trustees.



Anthony WebbAnthony WebbHead of Fiduciary Practice, KPMG


How is the Performance Assessment of Fiduciary Management Changing?

How can you benchmark the performance of your fiduciary manager? The wider development of ratings and how to use these in assessment and monitoring. Are Fiduciary managers becoming more transparent so trustees can see their added value and how are things likely to change through technological innovations and post CMA review?


12.25    :    Drinks and Lunch


13.35    :    Session 3:  ESG


Stephen BrooksModerator: Stephen Brooks, Director, PA Pension Trust 




Matthew Mignault Matthew Mignault, Director, Ernst & Young


ESG in Fiduciary Management & Investment Governance

As trustees become more aware of ESG investment issues and fulfilling their fiduciary responsibilities, this session will look at the sorts of questions you should be asking of your investment advisors and fiduciary managers. Based on a recent survey, it will also consider the ways fiduciary managers are incorporating ESG into their offerings to pension funds



Jonathan NelsonJonathan Nelson, Head of Research, CGLytics


Repurchases and Remuneration: Rigging the System?

Much ado has been made about the potential for companies to use share repurchases to manipulate performance criteria for their executive remuneration plans, but is this actually the case? This talk will discuss the use of share repurchases and the metrics for remuneration granted to executives from 2015 to 2017 in order to examine if there is a correlation between the two. As the responsibilities placed on fiduciary managers continues to mount, we will take a deeper dive into this aspect of trustees’ company stewardship with regards to the company’s use of capital to fund repurchases and the financially-based performance criteria for executive remuneration policies. 


14.50    :    Coffee/Tea


15.10    :    Session 4: CMA Review & Case Studies


Rachel CroftModerator: Rachel Croft, Director, Independent Trustee Services Ltd





Corina DonohoeCorina Donohoe, Assistant Director, CMA


Investment Consultancy Reforms

This session will focus on the outcomes of the investigation into the investment consultancy sector at the request of the FCA.


Brendan Walshe Brendan Walshe, Investment Consultant, Regulatory Policy, Analysis and Advice


Responding to the CMA Review

The CMA published their final report on 12 December 2018. The remedies proposed included a number of specific actions for TPR. This presentation will address how TPR is expecting to respond to the CMA  review and will include consideration of:

  • Proposed remedies
  • Adverse impacts in practice
  • Development of guidance
  • Improving the standards of governance
  • TPR's expectations of trustees


Panel Session: Looking to the Future

Trustees and advisors discuss their experiences of Fiduciary Management and the changes to come.


Barry Mack, Director, Muse Advisory




 Gerald Wellesley, Client Director, Punter Southall Governance Services






16.30   :    Drinks Reception & Close of Conference


Fiduciary Management is changing following regulatory developments such as the CMA review as well as improvements in the assessment and monitoring of fiduciary managers. Technology is also assisting in the improvement of investment governance and transparency. This conference is designed to help trustees assess their investment governance practices and broaden understanding of good governance in selecting, implementing and monitoring both managers and funds.



The conference is by invitation only for pension funds and other institutional investors. If you are not already receiving an invitation please contact us. A limited number of Complimentary invitations are usually available to genuine pension fund representatives (executives and trustees) and other approved institutional investors. However, to ensure we have room for as many funds as possible, we have to limit free places to 2 attendees per approved organisation thereafter a reduced rate fee is payable per delegate. Furthermore, SPS always reserves the right of admission (free or paid) and our decision is final.



Le Meridien Piccadilly Hotel, London

21 Piccadilly

London W1 0BH

Hotel Tel: 08700 400 8400

Hotel Fax: 020 7437 3574


The hotel is located on the north side of Piccadilly, close to Piccadilly Circus, only two minutes walk from Piccadilly Circus underground station.




Fiduciary Management & Investment Governance for Pension Funds                   

April 10, 2019                                Le Meridien Piccadilly, London 

Annual DC Pension Investment Developments & Current Issues

April 17, 2019                                Le Meridien Piccadilly, London 

ESG & Sustainable Investment Strategies for Pension Funds

May 9, 2019                                    Le Meridien Piccadilly, London   

Irish Pension Fund Investment & Current Issues             

June 11, 2019                              The Westbury, Dublin

Infrastructure & Real Asset Investment Strategies for Pension Funds

June 18, 2019                                Le Meridien Piccadilly, London 

Investment Strategies & Cash Flow Management for Maturing Pension Funds             

July 11, 2019                                    Le Meridien Piccadilly, London

Credit & Private Debt Investing for Pension Funds  

September 5, 2019                            Le Meridien Piccadilly, London 

Alternative & Innovative Investment Strategies Conference for Pension Funds 

September 12, 2019                          Le Meridien Piccadilly, London   

ESG Investments & Issues for Dutch Pension Funds

September 24, 2019                          Apollo Hotel, Amsterdam 

Nordic Institutional Investors' Conference

October 3, 2019                    7A Strandvägen, Stockholm

Property & Infrastructure Investment Strategies for Pension Funds 

October 10, 2019                           Le Meridien Piccadilly, London 

Current Investment Issues for Pension Funds                  

November 7, 2019                            Le Meridien Piccadilly, London

ESG & Topical Investment Issues for Local Authority Pension Investors

November 14, 2019                          Le Meridien Piccadilly, London 

Annual Northern Investment Conference for Pension Funds 

November 21, 2019                          The Met Hotel, Leeds

Private Equity & Debt Investors' Annual Seminar

December 5, 2019                            Le Meridien Piccadilly, London