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' investment strategy.

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 investment strategy."

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."

Notes

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 strategies.

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 Church bodies.)

The Commissioners manage a closed fund with their expenditure being funded from the returns earned from investments under their stewardship.

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 responsibilities are:

- 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 worship.