Aoifinn Devitt to step down as chief investment officer of London CIV

Aoifinn Devitt will step down as chief investment officer despite only taking on the role in January.

Devitt has been CIO since January, when she took over from Jason Fletcher. She is the fourth person to hold the position since the pool was established in 2017.

In a statement, a spokesperson for the London CIV said Devitt was leaving “to pursue new opportunities”.

“In the meantime, Aoifinn is committed to helping London CIV on its journey to remain the investment partner of choice for its partner funds and a thought leader within the LGPS,” the spokesperson added.

The pool said it expected there to be a gap between Devitt’s departure and a new CIO starting. In this period, head of public markets Rob Treich will oversee the investment team alongside chief executive officer Dean Bowden.

Bowden said: “While Aoifinn may be moving on, as one of the leading thought leaders within the LGPS, I know she will continue to help London CIV on its journey as the investment partner of choice for our partner funds.

“With Rob’s support we will continue to maintain momentum in the planned programme of launches and development of our service offering, during the transition to a new CIO.”

Devitt joined the pool in January from US wealth management firm Moneta, having worked in an advisory capacity to several Local Government Pension Schemes since 2006.

The London CIV was established in 2015 to pool the assets of 33 – now 32 – London borough pension schemes. The CIV currently oversees £31.6bn, approximately 68% of the boroughs’ total pension assets, and has launched 24 funds across various asset classes and strategies.