Doug Heron to succeed Clare Scott who leaves next month. : Sweden’s experience with the Premium Pension system shows how arduous dismantling of poorly constructed architectures can be Alternative risk premia strategies can be helpful for institutional investor portfolios through diversification and risk reduction Scotland’s second-largest pension fund has named Doug Heron as its new chief executive, who will replace Clare Scott at the end of the year. Heron joins the Lothian Pension Fund from Nucleus Financial, an Edinburgh-based wealth and investment platform, where he was chief financial officer and chief operating officer during a four-year spell.