BlackRock to manage €24bn British Airways pension schemes

This new agreement will see BlackRock handling and managing assets worth up to for British Airway’s Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS), schemes that currently render service to about 85,000 members and was previously handled by an in-house provider.

Commenting on the reason for which BlackRock was hired for the job, Roger Maynard, a trustee of both APS and NAPS, said: “in BlackRock, we have identified an asset manager that will ensure the continued focus on delivering enhanced oversight, investment management and long-term value for the Schemes.” 

“in BlackRock, we have identified an asset manager that will ensure the continued focus on delivering enhanced oversight, investment management and long-term value for the Schemes.” 

Roger Maynard, trustee of both APS and NAPS

Pension schemes have been subjected to more stringent regulation in recent times, the cost of operation has also spiked considerably while the investment procedures have become more complex. This has mandated the involvement of investment management firms with the size, reputation, resources and expertise required to handle and even scale these roadblocks.

“This agreement is the necessary next step in the evolution of the schemes as they look to enhance their respective investment strategies, working toward their funding goals.”

Sarah Melvin, head of BlackRock’s business in the United kingdom, noted that the firm is “honoured to be entrusted to manage the assets of these two important pension schemes through the creation of a bespoke model.”