PGGM chairman takes up chief executive role

Edwin Velzel, chairman of Dutch pension fund giant PGGM, has been appointed chief executive officer.

Velzel succeeds Else Bos, who will be leaving at the beginning of November to become chair for prudential supervision at De Nederlandsche Bank.

His appointment comes after a period of significant upheaval among PGGM’s top team. Marcel Jeucken, managing director for responsible investment, is also leaving on 1 November, while chief investment officer Ruulke Bagijn left for Axa last year.

PGGM has more than 725,000 members and €206bn of assets.