Lancashire County Council has rehired its former chief investment officer in a new role to help manage its “very challenging financial situation”.
Mike Jensen, currently co-chief investment officer at the Local Pensions Partnership (LPP), is returning to the council to take up a new position of director of investments.
In the new role he will develop a treasury management strategy that covers both investment and borrowing activity.
Jensen has been co-CIO at LPP since its inception in 2016 and played a strategic role in its launch and subsequent development into a £12.8 billion pensions services organisation. He will continue to provide a strategic advisory role to LPP in an independent capacity.
Lancashire County Council Leader, Geoff Driver, said: “At a time when Lancashire County Council is facing a very challenging financial situation, it is more important than ever for the people of Lancashire that we secure the best possible return from the council's investment activities, which is why we have created this new position of director of investments."
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