New tri-borough shared services pensions and treasury team

Friday February 17th, 2012

Westminster, Hammersmith & Fulham and Kensington & Chelsea councils have come together to create a new tri-borough pensions and treasury team as part of the ground-breaking shared services agreement.

The new team, based at Westminster City Council, will handle combined pension funds of £1.5bn and cash investments of £500m.

Each local authority will retain its own pension fund and cash investments but the management of the three councils’ funds will be handled by the new shared service, led by tri-borough director for treasury and pensions Jonathan Hunt.

Mr Hunt said: “Our newly-combined team will look at better ways of working and sharing skills, and will provide better resilience within the team. We are also looking to improve our efficiency in terms of the number of contracts we have, and we will look at attracting more competitive rates for our investments across the three boroughs.”

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