The Barking and Dagenham Pension Board is set to increase its meeting frequency from two to four times per year, as part of a broader governance review. These changes, which will come into effect from September, also include the appointment of an independent chairman, Mike Curtis, and a reconsideration of the London CIV Investment Management Agreement (IMA).
The governance review aims to strengthen oversight and improve the board's effectiveness. The IMA was re-examined due to a change in paragraph 16.5, which explicitly limits liability to the assets managed by the London CIV. The committee agreed to delegate the final agreement of the IMA to the Strategic Director of Resources, in consultation with the chair and deputy chair.
These developments were discussed at a recent meeting.
