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About Us

The Wales Pension Partnership (WPP) was established in 2017. The WPP is a collaboration of the eight LGPS funds (Constituent Authorities) covering the whole of Wales and is one of eight national Local Government Pension pools.

We have a long, successful history of collaboration, including examples that pre-date the Government’s pooling initiative. We are proud of our unique identity as a Pool – our Constituent Authorities represent and span the entirety of Wales. Being democratically accountable means we provide the best of strong public sector governance and transparency.

Our operating model is designed to be flexible and deliver value for money. We appointed an external Operator and make use of external advisers to bring best of breed expertise to support the running of the Pool. The Operator is Waystone Management (UK) Limited and they have partnered with Russell Investments to manage the investments and assist in the reduction of investment management costs for all the Constituent Authorities.

We have a clear vision and are in control of the pace we take to ensure we meet our goals.

 

Latest News

Friday 19 September 2025

Appointment of CEO for Wales Pension Partnership Investment Management Company

Appointment of CEO for Wales Pension Partnership Investment Management Company

Local government pension schemes (LGPS) in Wales (Wales Pension Partnership) have joined forces to incorporate a multi-billion-pound company that will manage the investments on behalf of the eight Pension Funds in Wales. 

The £25bn investment management company will manage the pooled resources of Wales’ eight LGPS funds to maximise benefits for its 412,000 members and to seek out more opportunities to invest in locally impactful projects, in line with the Government’s recommendations following its Fit For The Future Consultation.

The Wales Pension Partnership Investment Management Company (WPP IM Co) was set up last month and has now appointed its first chief executive, Mr Rob Lamb.

Welsh-speaking Mr Lamb brings to the role both public and private sector experience that includes senior leadership roles in international investment management as well as proven understanding of the local investment landscape in Wales, and long-standing relationships with the Welsh LGPS.

Speaking about his new role, Mr Lamb said: 

“I am honoured and delighted to join WPP IM Co at such a pivotal moment. This is a once-in-a-generation opportunity to create a standalone regulated investment company in Wales that will benefit all stakeholders, including the 22 Welsh local authorities, 382 employers, and 412,000 members. 

WPP IM Co will continue to invest for and safeguard the pensions of its members, while also supporting local investment throughout Wales and the UK. 

By partnering with others, we intend to promote economic growth, create jobs, support clean energy, and enhance infrastructure for the benefit of everyone in Wales.”

The new company will have its headquarters in Cardiff and is committed to meeting the target set by the UK Government that all Welsh LGPS assets will be transferred to the new company’s control by 31 March 2026.

The WPP IM Co was incorporated last month by the Transitionary Board of Directors. The Board Chair, Mr Chris Moore said:

“Rob’s career spans senior leadership positions in the regulated public and private financial markets across the globe, as well as the successful founding and sale of a financial technology start-up. He demonstrated significant experience and capability, and the Board of Directors have confidence that he will deliver for the eight Pension Funds in Wales. 

The shareholders of WPP IM Co were keen to appoint a CEO who not only shares our long-term strategic goals but also possesses the industry expertise, credibility, and network needed to drive these objectives forward to benefit our members and Wales more widely.”

The Chair of the Joint Governance Committee (representing the shareholders) Cllr Peter Lewis said:

“Rob’s background and passion for Wales make him an ideal choice to lead the company into this critical new phase.”

The Chief Executive now looks forward to building out his Executive Team to move the project to the next phase. Details of the new company, including career opportunities as they arise, will be available at www.wppinvestments.com 

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Friday 01 August 2025

WPP Investment Management Company

WPP Investment Management Company

All eight Constituent Authorities have now provided full approval to progress the build of WPP Investment Management Company (IM Co), including its submission to the FCA to obtain formal authorisation.   

The Government launched its Local Government Pension Scheme (LGPS) Fit for The Future Consultation on 14th November 2024, outlining a range of proposals to strengthen the management of LGPS investments in 3 key areas:

1. Reforming the LGPS asset pools, 

2. Boosting LGPS investment in their localities and regions in the UK,

3. Strengthening the governance of both LGPS Administering Authorities and LGPS pools 

As part of the consultation, the government asked each pool to consider and provide submissions outlining the viability of meeting the timescale of 31 March 2026 and each pool was invited to demonstrate a clear path to meeting the requirements outlined in the consultation document.

The WPP submitted a Business Case to Government at the end of February 2025, to make a case for continuing as a Welsh Pool and, therefore, continuing to realise the benefits the Pool brings to Wales. This was approved by Government in April 2025.

WPP proposes to establish a stand-alone Financial Conduct Authority (“FCA”) authorised investment management company (“IM Co”) in line with Government criteria and to move all WPP assets into IM Co management in line with the timescales outlined. The decision to build a WPP IM Co offers a unique opportunity to establish a material centre of excellence in LGPS investment in Wales creating valuable career opportunities whilst enhancing the financial services sector in Wales. 

All eight Constituent Authorities fully support the formation of IM Co and work is now progressing to build the company, including the preparation of the FCA submission.

The full Business Case and Fit for the Future submission can be found on the WPP website - Wales Pension Partnership website

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