Mike Weston

Mike has spent over 30 years managing, or investing on behalf of, both public and private sector pension schemes.   

Mike was CEO of LGPS Central Limited, one of the largest LGPS asset pool companies, until May 2023. He developed the business into a £30bn investment manager based in Wolverhampton, operating across the full range of public and private markets assets classes, and supporting the needs of more than 1 million underlying LGPS pension scheme members and more than 2000 sponsoring employers. His priority was meeting client needs with responsibly achieved investment performance, operational efficiency and robust governance. 

Before taking the lead at LGPS Central, Mike was the first CEO of Pensions Infrastructure Platform (PiP). He successfully built the investment and management team, achieved FCA authorisation, launched the PiP Multi-Strategy Infrastructure LP and acquired UK infrastructure assets across renewable energy, transport, health and social housing. Prior to PiP, Mike spent five years as Chief Investment Officer for the £2bn pension schemes of DMGT plc, the UK based, global media business. Mike started his career as an Equity Analyst, Portfolio manager and Investment Director for Hermes and Mercury Asset Management (now Blackrock) 

Since 2013 Mike has served as an Independent Trustee of the Institute of the Cancer Research Pension Scheme and is the current Chair of the Trustee Board. He has also recently become a professional Independent Trustee with Pi Partnership.  

Mike is an embodiment of successful social-economic diversity, having risen from a working-class family background and comprehensive school education, and is a supporter of both the 30% Club and Diversity Initiative.  

Mike has a Natural Sciences degree, an MBA and recently the CFA Certificate in ESG Investing. He is a regular commentator on the UK pensions industry. 

Mike’s War Story 

When I joined LGPS Central in early 2019 the business was in a difficult situation. A year after its formal launch the first CEO had left, the owners/clients’ operational expectations were not being met, and investment performance was poor. It was a turnaround situation. 

My immediate priority was to re-establish client trust and support for a clear, and ambitious future business development strategy. In addition, I needed to proactively manage the cultural integration of former local authority pensions teams with private sector investment management professionals to rebuild internal morale and create a coherent, FCA regulated commercial institution with robust investment, operational and governance processes. External hiring and internal team development were a key part of increasing the resources to deliver evolving client needs, particularly in the Responsible Investment and Net Zero/Climate area, whilst providing demonstrable value for money to my eight local authority owners. 

Then Covid hit, and like all other businesses in the UK, there was the immediate transition to remote working, the implementation of a new way of ensuring the effective stewardship of client assets and of maintaining the regulatory and operational governance of the business. All successfully achieved and now the basis of a productive hybrid working approach. 

With the support of my local authorities and the “One Central” Team, during my leadership, assets under stewardship more than doubled to c£30bn, with several multi-billion-pound fund launches and the establishment of investment fund vehicles spanning both public and private markets asset classes to meet client strategic asset allocation needs. Investment performance strengthened and the team grew to over 80 people.   

Cumulative breakeven was also achieved. The total costs of establishing and operating LGPS Central are now more than offset by achieved cost savings.  

I had laid the foundations for future success and significantly built my complex stakeholder management and governance skills to add to my fundamental investment expertise.