Former Phoenix Group chair John Lister is to take over as chair of the Border to Coast Pensions Partnership later this year, the organisation has announced.
He will succeed Chris Hitchen, who has led the board since 2017, from 1 October, subject to regulatory approval. Border to Coast manages or oversees more than £55bn of assets on behalf of 11 Local Government Pension Scheme (LGPS) funds.
Lister chaired Phoenix Group Life Companies for four years and was a non-executive director for five years before this. He previously worked for Aviva for more than 30 years, including as chief risk officer at Aviva and chief financial officer at Aviva UK Life, before taking up a non-executive position.
Lister is also a trustee of the York University Pension Scheme.
Border to Coast said Lister’s immediate priorities would include leading the board through the pool’s next “strategic phase”, as it responds to the government’s megafunds requirements outlined in the Pension Schemes Bill and the ‘Fit for the future’ LGPS consultation.
“This is a critical appointment for Border to Coast as it enters its next strategic phase and faces into new government requirements on the future of the LGPS and pooling.”
Cllr George Jabbour, North Yorkshire Council
George Jabbour, a North Yorkshire councillor and chair of the Border to Coast pool’s joint committee of partner funds, said: “Chris Hitchen has been instrumental in establishing Border to Coast and overseeing its success to date, and I look forward to continuing to work together until he steps down in September.
“Following a competitive search, we’re really pleased to have John joining Border to Coast. This is a critical appointment for the company as it enters its next strategic phase and faces into new government requirements on the future of the LGPS and pooling.
“Throughout the selection process, John demonstrated clear alignment with our purpose and values, and he has a high calibre of skills and experience which will place us on excellent footing for the organisation’s next chapter.”
Lister added that Border to Coast and its partner funds could have an increasingly significant impact in the years ahead in areas such as UK investment, private markets, and responsible investment.
“I enjoy working for companies that make a positive impact on society, and Border to Coast firmly fits that mould,” he said. “It’s built to enable the payment of pensions to over a million UK workers, but seeks to do this through positively performing assets that can also deliver value to society. As one of the largest investors of its kind, its increased scale is helping it find innovative ways to power start-ups, deliver local investment and drive UK growth.”
