Additionally, Little will support LPPI’s commitments around responsible investment and net zero. His tenure as Chair will commence 01 August 2023, with a transition period completed with outgoing Chair, Sally Bridgeland.
Jon has two decades of international CEO experience in public and private asset management, with a proven track record of building successful businesses and managing, motivating and inspiring large teams for complex, global diverse organisations.
With a strong and familiar public profile and voice in the industry, Jon is also committed to promoting and working with diverse boards and leadership teams. He embraces LPPI’s purpose and values and is dedicated to further embedding an inclusive, open and empowered workplace culture.
Jon is a founder and managing partner of two asset management firms, Alderwood Capital, an asset management advisory firm, and previously Managing Partner of Northill Capital, Which he founded in 2010 before leaving in late 2019 and then selling his stake in the business in 2020. He currently sits on the board of the Oxford Brookes University Endowment’s investment committee as Non-Executive Chair. From 1991 to 2000 Jon worked for Fidelity Investments and subsequently for JPMorgan from 2000 to 2010. He also has extensive board governance experience across multiple regulated markets including UK, US, Europe, Australia and Asia and has been non-executive director of Jupiter Fund Management and Quilter plc, where he also Chaired Quilter Investors.
Jon replaces Sally Bridgeland, who has held the position of Chair since 2015. During her eight-year tenure, Sally helped LPPI mature and innovate to blend dedicated in-house specialist expertise, dedicated implimentation, and co-operation with like-minded investors to fully exploit the benefits of LGPS today.
Today LPPI manages £24bn of pension fund assets through a range of pooling vehicles as well as successful collaborations such as GLIL Infrastructure and The London Fund. The business has delivered sector-leading investment performance, with annual average returns of 8% over five years1 as well as total net cost savings of more than £113m since inception2. With a strong background in sustainable investment, Bridgeland has actively supported LPPI’s development as a responsible investor and active steward of client assets.
Chris Rule, Chief Executive Officer at Local Pensions Partnership Investments, comments:
“The Board welcomes Jon as our new Chair and we believe his experience operating in complex and innovative organisations will help drive LPPI’s strategic goals in a rapidly evolving pensions and investment industry. His global perspective and impressive network will also help LPPI build on our access to global best practice and future collaborations.
“At the same time, we are sad to say farewell to Sally Bridgeland. Sally has been instrumental to LPPI’s journey as a successful LGPS investment pool, our development as a responsible investor and steward of client assets, and our path to net zero. I am personally grateful for her commitment, integrity and unwavering energy over the years, and both I and the wider LPPI team will miss her presence.”
Jon Little, incoming Chair, adds:
“I am honoured LPPI has selected me as Chair of the Board. As a highly respected LGPS investment pool, LPPI has built strong foundations that make it an attractive partner for pension funds, asset managers and other professional investors. Working alongside the Board, senior leadership and the broader team, I truly believe LPPI has tremendous growth potential as a leader in the responsible investment and active ownership of pension fund assets.
“I’m looking forward to collaborating with Chris and the team to build on their success and drive a bigger, brighter future for shareholders, investors, partners and employees.”
1 Source: PIRC Local Authority Pensions Performance Analytics Annual Review 2021-2022, five-year performance as at 31 March 2022, net of fees. Where referenced, past performance is not an indication of future results. Investments can go up as well as down.
2 Source: LPPI to 31 March 2022. Forecasts are based on no less than £30m annual net cost savings.