Workplace pension and savings fintech Cushon is today announcing Veronica Humble as its new Chief Investment Officer. The news comes at a time of continued growth and transformation for the business following its acquisition by NatWest Group last year.
Humble will apply her extensive quantitative and analytical skills and experience in the DC market to define and lead Cushon’s investment strategy to cement the business’s proposition as a leader in the UK DC market.
Veronica Humble, Chief Investment Officer, Cushon said: “Cushon’s investment proposition is one of the most interesting in the UK market, and an industry leader in decarbonising the sector. Cushon is well on its way to achieving its carbon emissions reduction goals thanks to the Cushon Sustainable Investment Strategy, but there is still much to do to. I’m looking forward to bringing my skills and experience to this role to further develop Cushon’s proposition and to show that meaningful carbon reductions can be made at pace while still maintaining diversity in an investment portfolio to achieve investment goals.”
Ben Pollard, founder and CEO, Cushon said: “We’re very pleased to welcome Veronica to Cushon at such an exciting period of growth for the business, having recently completed the first intra-group merger of one master trust into another and as we continue to pursue our mission to make rapid cuts to the financed emissions of our default fund.”
Julius Pursaill, Strategic Adviser, Cushon Master Trust said: “Having previously served as acting CIO for Cushon, I’m delighted that we are further strengthening the resources in our investment office and I’m looking forward to working with Veronica in her new role, as an adviser to the investment office, to Cushon and NatWest more broadly.”
Humble has joined Cushon from Legal and General Investment Management (LGIM) where she had been responsible for investments, product development and ESG initiatives within the defined contribution (DC) business. Veronica was also a member of the L&G Master Trust Investment Committee and an investment expert for LGIM’s DC clients.
In October 2023, the Cushon Master Trust announced its target to achieve an 80% reduction in the scope 1 and 2 carbon emissions financed by the growth phase of its default fund by 30 September 2030 compared to its independently verified industry benchmark of 118 tCO2e/$m invested. It has already achieved a 64% reduction against the benchmark and is targeting a 7% annual reduction between now and 2030.
In November, the fintech became the latest signatory to the Mansion House Compact, a voluntary expression of intent by DC pension funds to allocate at least 5% of their default funds to unlisted equities by 2030.
In January 2024, Cushon announced that the former Workers Pension Trust had been consolidated into the Cushon Master Trust – the first time, since the master trust authorisation regime was introduced, that an intra-group merger of an acquired master trust into another has been completed.
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