09 May 2012
The Church Commissioners have appointed Jozek Fiedosiuk as Chief
Operating Officer for their investment activities.
This is a newly created role within the Commisioners' in-house
investment team, which is responsible for managing the bulk of the
Church of England's historic assets, currently valued at
£5.2billion. Jozek will have responsibility for the operations
function overseeing the implementation of the Commissioners'
Jozek joins from Rogge Global Partners, a successful boutique
asset manager based in London where he was the Head of Operations.
Jozek started his professional career as an accountant but has
spent most of his working life in operations roles with investment
firms (Blackrock, Fidelity, Gartmore and Allied Dunbar) in London
with experience across a broad range of asset classes.
Tom Joy, the Commissioners' Director of Investments, said:
"Jozek will bring significant experience in investment operations
to the Commissioners, which will in turn provide a greater level of
assurance to the Assets and Audit Committees and ultimately the
Board of Governors in terms of the control environment surrounding
our assets. It will also allow greater separation between the
investment idea generation process and the implementation of our
Jozek Fiedosiuk has a BA (Hons) from the University of Wales and
an MBA from CASS Business School. He lives in Twineham, West Sussex
with his family, where they worship at St Peter's Church.
Commenting on his appointment as COO, Jozek Fiedosiuk said: "I
am delighted to be joining the Commissioners at a time when they
are seeking to build upon their past successes. This position
affords a rare opportunity to use my experience and operational
rigour developed in asset management to help shape the future on
behalf of an organisation for which I have tremendous empathy."
The Church Commissioners are responsible for managing a large,
multi-asset portfolio, consisting of a diversified mixture of UK
and global equities, bonds, property and alternative
The Commissioners fund all clergy pensions earned before 1998.
(Pensions earned since then are paid from the separate Funded
Scheme, which is funded by contributions from dioceses and other
The Commissioners manage a closed fund with their expenditure
being funded from the returns earned from investments under their
Actuaries assess the Commissioners' fund in detail every three
years (with yearly reviews) to advise on how much they can safely
plan to spend.
The Commissioners' mission is to support the Church of England's
ministry, particularly in areas of need and opportunity. Their main
- to obtain the best possible long term return from a
diversified investment portfolio in order both to meet their
pension commitments and to provide the maximum sustainable funding
for their other purposes such as support for the work of bishops,
cathedrals and parish ministry
- in doing so to pay particular regard to making "additional
provision for the cure of souls in parishes where such assistance
is most required".
- to administer the legal framework for pastoral reorganisation
and settling the future of churches which have been closed for