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Shell Pension Manager Hires Groenendijk as Strategy Chief

Patrick Groenendijk, who left Northern Trust last month, will return to an asset-owning role at Shell Asset Management Company.

  • Staff

The equity strategist who left Northern Trust last month will be joining the pension fund manager for gas company Shell, Institutional Investor has learned.

Patrick Groenendijk will be the new head of strategy at Shell Asset Management Company — called SAMCo — in the Netherlands, a spokesperson for Shell confirmed early Tuesday. SAMCo manages the pension assets for Shell employees based around the world.

Groenendijk had led Northern Trust’s equities strategy out of the U.S. but recently left the role after less than a year. His new appointment marks a return to Europe and the asset-owning sector for Groenendijk, after nearly three years working at the American asset manager. The chess enthusiast spent nearly nine years as CIO of Pensioenfonds Vervoer before joining Northern Trust in 2014.

Groenendijk also previously worked in strategy and research roles at Dutch pension funds PME and ABP. He also spent nine months as a principal at Barclays in 2005.

Groenendijk holds a Ph.D. in financial economics from Erasmus University Rotterdam.