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Friends Life chief investment officer steps down

Friends Life chief investment officer steps down

Friends Life’s chief investment officer Robert Groves is leaving the firm to join Pension Insurance Corporation.

He will remain with the business for up to six months, in line with his notice period, during which time Friends Life will seek a replacement, adding that the change was not connected to its recent acquisition by Aviva.

“Friends Life is now part of the Aviva Group and we have considerable investment expertise across the group as a whole,” added a statement.

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Mr Groves is set to join Pension Insurance Corporation as chief investment officer in November, responsible for managing their portfolio, which includes asset and liability management, manager selection and interest and inflation hedging strategies.

Prior to Friends Life, he worked as a director of pension solutions at UBS Investment Bank until June 2011 and has also been an investment analyst at Towers Perin and Buck Consultants.

peter.walker@ft.com