Principal Investment Manager

Salary: £67,084 per annum plus benefits and relocation allowance


Thank you for your interest in this role.

We are proud of the track record that Tyne and Wear pension investments have achieved. As we progress, we are seeking to build on this, whilst preserving the long-term stability of our pension fund. That is where you come in…

Despite our track record, we are not complacent; we are ambitious and are continually looking to develop and enhance our approach to investment, always mindful of the privilege we hold in managing our pension assets.

I am looking forward to recruiting a new Principal Investment Manager that will further develop our thinking and realise our ambition.

The role carries responsibility for the Tyne and Wear Pension Fund’s assets and the management of the Council’s Treasury Management function. Whilst we must continuously maximise our pension fund’s returns, we must also look further beyond, and continue to develop our wider investment strategy and governance arrangements. Working closely with both our own investment managers and consultants, you will have an oversight of the investment strategies of our external managers including the Border to Coast Pension Partnership. It really is an interesting time to be joining us.

We are a strong performing authority, with stable political leadership, and talented teams providing the platform to have a fulfilling, challenging and successful career in a beautiful and accessible area.

Fundamentally, I believe this is a fascinating opportunity, which will appeal to an enthusiastic and ambitious individual who can see the genuine potential of being able to play a pivotal leadership role at this very exciting time.

I hope that this role will pique your interest levels, and that the information below will provide as much detail as you require. However, I would welcome conversations with candidates who would like to learn a little more from me. Please liaise with our recruitment partners at The Resourcing Solution who will be able to arrange a conversation.

Thank you and I look forward to receiving your application.

Ian Bainbridge, Head of Pensions, Tyne and Wear Pension Fund


Salary: £67,084 per annum plus benefits and relocation allowance.

This is a key post within the Fund, and as part of the Senior Management Team, you will be responsible for developing, implementing and monitoring the investment strategy and investment management structure.

The role has responsibility for a team of seven, so you must have strong management and leadership skills, with the ability to communicate effectively and diplomatically right across the board and lead by example. Demonstrating passion and enthusiasm, you will have substantial experience at a senior level of working in an institutional investment or pensions environment, with a good understanding of current investment issues and the ability to identify and develop new investment opportunities.

Ideally, you will also be familiar with working in a public sector investment environment, or at least have sound knowledge of how it operates and/or have some experience of dealing with elected members.

Forming strong collaborative partnerships will be one of your key attributes; enabling you to have oversight of the existing external investment managers including Border to Coast, strategic and tactical asset allocation, managing the continuing transition of assets to Border to Coast, co-ordinating the financial control of the Fund and reporting to the Pensions Committee and the Local Pension Board.

Your success in this role will draw on your considerable investment experience across a broad range of asset classes, high-level investment analysis and reporting skills and staff leadership.

We are looking for someone who can be seen as a leading voice in the Local Government Pension Scheme and the Border to Coast Pension Partnership and can draw upon knowledge and skill to lead discussions on investment strategy as well as managing the investment portfolio.

Finally, whilst a CCAB qualification in accountancy such as CIPFA/CIMA, or a recognised qualification in investment such CFA or IMC is desirable, it is not essential as long as you can lead with credibility and demonstrate a compelling background in pension investment.

We encourage productive, flexible working and we will provide you with the technology you need to work from a variety of locations. A relocation package is also available for eligible applicants, details of which can be found below.

In addition to your salary we offer a range of great benefits to help you financially make life a bit easier. From career average employer contribution pension scheme, a car leasing scheme, cycle schemes, and gym discounts to name but a few.

You will be welcomed by a progressive and talented team.

Find out more about the employee terms, conditions and benefits that South Tyneside Council has to offer.

South Tyneside Council is the administering authority for the Tyne and Wear Pension Fund.

The Tyne and Wear Pension Fund is a high achieving Fund and is the fourth largest Local Government Pension Fund in England and Wales, which is currently valued at £11 billion. It has over 160,000 members and around 200 active employers, including the five councils within the Tyne and Wear County area and Northumberland County Council.

We are constantly striving to improve and innovate. We have recently completed the successful merger of the Fund with Northumberland County Council Pension Fund. This was a massive exercise, which involved significant resource and planning to amalgamate the investment strategies, the funding strategy and member records from each fund.

Investment performance has been extremely positive over the past few years and the current funding level is in excess of 100%. This has led to the Fund initiating a programme of de-risking out of equities in order to provide for a stable investment return in the future. It will take several years to implement this approach to de-risking.

The Fund is one of eleven owners of the Border to Coast Pensions Partnership, our investment pooling partner and the post holder will take an active role helping to shape the overall direction of the Partnership and the investment products that are being developed. Building on this successful partnership and strong working relationship, realising the synergies and the opportunities of joint working will be key to the future development of the Fund.

We are strong performing Fund with talented teams providing the platform to have a fulfilling, challenging and successful career.

This corner of the UK is renowned for its friendly people and welcoming culture. Just 12 miles down the road from Newcastle, you might be surprised at how much the region has to offer.

With excellent transport links by road, rail or air, the area is well connected and so it is quicker than you might think to get here from other parts of the UK.

With some of the most spectacular beaches in the region, and some wonderful open spaces, you are spoilt for choice when it comes to outdoor activities. You can sail, windsurf or swim, or just go to one of the many pleasure parks along the coast, then round the day off with fish and chips at a local café. If shopping is more your thing, South Shields market is worth a trip - or you can grab a bargain at The Barbour Factory outlet.

Housing here is less expensive than its neighbour Newcastle, and with some really pretty villages like Cleadon and Whitburn, you can enjoy living in a lovely place whilst still being able to pop up to the bright lights of Newcastle whenever you want. Thanks to the Metro system, there are fantastic transport links from South Tyneside to all parts of the north east, and it won’t cost you a fortune.


We encourage you to contact our recruitment partner Penny Keatings on 07811 411462 / for an informal and confidential conversation regarding the role.

To apply either send your CV or completed application form (available below), outlining how you meet the requirements of the role, to by 4pm on Monday 23 November 2020. We look forward to receiving your application and reading it with interest.

Key dates

  • Closing date: 23 November 2020
    We anticipate informing you of the outcome of your application by 27 November 2020.
  • Interviews: 3 or 4 December 2020
    To ensure your safety and for your convenience we are planning to hold interviews via Zoom.

Key documents

The council is committed to equality of opportunity of all staff. We welcome applications from individuals regardless of age, any disability, sex, gender reassignment, sexual orientation, pregnancy and maternity, race, religion or belief. If there is anything we can do to support you with your application or throughout the process to make things a little easier for you please do let us know.

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