The U.K.’s People’s Partnership, which operates the People’s Pension — a defined-contribution pension plan — has appointed Daniel Spencer co-head of fixed income.
Spencer will work alongside Charlotte Vincent, according to a LinkedIn post by Dan Mikulskis, chief investment officer at People’s Partnership.
“He’s joining a growing investment team that’s really hit its stride over the last couple of years, with a clear asset ownership and partnership model we’re proud of,” Mikulskis said. “I’m sure Daniel will help take that to the next level.”
Spencer joins from Brunel Pension Partnership, where he spent eight years as a portfolio manager. Since 2021, he managed a multi-billion-pound multi-asset credit portfolio, with exposure across areas including leveraged finance, asset-backed securities and emerging-market debt. He also managed an emerging-market equity strategy beginning in 2019.
“That depth of portfolio management experience is a great fit as we pass £45 billion in assets under management and keep growing fast at a pivotal moment for U.K. defined contribution,” Mikulskis said.
Spencer was at Brunel when the pension pool launched its multi-asset credit portfolio in 2021, initially backed by approximately £2.1 billion in client commitments across three mandates.
Prior to Brunel, Spencer spent five years as an investment analyst at AXA Framlington, now part of AXA Investment Managers, where his work included portfolio construction, investment risk and analytical support for international equities and multi-asset strategies.
Earlier in his career, he spent more than five years at JPMorgan, including working on portfolio construction in the chief investment officer’s office at JPMorgan Private Bank.