NETHERLANDS - Johan van der Ende, currently at the helm of strategy and structured investments at PGGM, has been promoted to chief investment officer.

Having been acting CIO since January, he will officially take on the top investment role at the recently-createdpension administrator and asset manager of the €86bn Dutch PFZW pensionfund from early July, following the departure of Piet Roelandt.

Roelandt was appointed as CIO of portfolio management in March 2007 after LeoLueb was relieved of his duties and appointed as adviser, but after less than a year in the role Roelandt announced in January he intendedto leave PGGM in May to cycle across America, hoping to "return quicklyto a new job in the financial markets".

PGGM said Van der Ende, as CIO of PGGM Investments, will combine the responsibilities of his current position with those of the CIO of structured portfolio management.

"In his new position Johan will be responsible for managing all PGGM's investment departments. He willcontinue reporting to the chief executive of PGGM Investments [ElseBos] as does the chief operating officer (COO), Marc van den Berg."

Commenting on the appointment, Else Bos, said: "Johan van der Ende will be seeking to reinforce our position as an innovative, sustainable, long-term asset manager. I have much confidence in his knowledge, powers of persuasion and focus."

Van der Ende is currently also chairman of INREV.

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