Rob Schreur was appointed CEO of the National Grid U.K. Pension Scheme, London, a spokesman said to Pensions & Investments. 

The position is new. Mr. Schreur will join the £17 billion ($26.4 billion) pension fund later this year to lead and develop its new investment executive team.

The appointment follows an announcement by the sponsoring employer that it would be creating a small executive team of specialists to support the pension fund trustees in managing assets, monitoring liabilities and controlling investment risks. It coincides with a decision to outsource the management of the pension fund's assets and to sell in-house money manager Aerion Fund Management, the process of which is still ongoing.

Mr. Schreur's “experience of overseeing a large outsourced asset mandate, asset-liability management and European best practices in pension fund investment will be invaluable to the trustees,” said Nigel Stapleton, chairman of the trustees, in a news release.

Mr. Schreur is chief investment officer of the €17.8 billion ($19.7 billion) Philips Pensioenfonds, Eindhoven, Netherlands. Spokesmen for Philips Pensioenfonds did not respond to a request for comment by press time.