Nick Vickers, the Head of Pension Fund, Treasury and Capital, has departed from Barking and Dagenham Council, with Nimesha Sivayogan appointed as his permanent successor.

The committee expressed their gratitude to Nick Vickers for his service, noting his hard work in steering the committee through a challenging period. During his tenure, Mr. Vickers presented the quarterly monitoring report for the period of 1 January to 31 March 2026. This report highlighted market declines due to Middle Eastern events, but also noted positive returns in January and February. He also provided updates on the fund's performance against other local authority pension funds, underscoring a good long-term track record. Furthermore, Mr. Vickers presented the Fund Governance Report, which included discussions on the London CIV Investment Management Agreement, admissions to the fund, the Grant Thornton Pension Fund Audit Plan, the MHCLG response to the Scheme Advisory Board, and changes to the Pension Board.

Performance of various investment classes over one year
A line chart displaying the performance of various investment classes, including global equities, UK equities, UK government bonds, cash, UK commercial property, and inflation, over a one-year period from March 2025 to March 2026.

Nimesha Sivayogan is set to take over the role of Head of Pension Fund, Treasury and Capital from August 3, 2026, following a comprehensive handover from Mr. Vickers. The position of Head of Pension Fund, Treasury and Capital carries significant responsibilities, including presenting quarterly monitoring reports that detail fund performance, market conditions, and returns from individual fund managers. The role also involves presenting the Fund Governance Report, which encompasses critical areas such as the London CIV Investment Management Agreement, admissions to the pension fund, the audit plan, responses from government bodies, and changes to the Pension Board.

A key challenge for the role is navigating the complexities of mandatory asset pooling under the Pensions Schemes Bill and managing the Investment Management Agreement with the London CIV. This includes dealing with changes to the agreement and ensuring partner funds are consulted on proposed amendments. The Head of Pension Fund, Treasury and Capital is also tasked with addressing issues raised in the pension fund audit plan and updating the council's Responsible Investment policy in light of government guidance. Further details on the fund's performance and governance can be found in the Public reports pack for the Pensions Committee meeting on Tuesday 30 June 2026.