Bank of Ireland Staff Pension Fund

Bank of Ireland Staff Pension Fund

The Bank of Ireland Staff Pension Fund manages retirement benefits for employees of Bank of Ireland Group. Paul Droop has led investment strategy as Group Pensions CIO since 2011, supported by a trustee board chaired by Paul Haran. Trustees include Richard Goulding, Deputy Chairman of Bank of Ireland, Pat Gaynor, a former Managing Director at Bank of Ireland Corporate Banking, and Eileen Fitzpatrick, former Director of NewERA at the NTMA. Administration is handled through Willis Towers Watson. The fund deploys capital across a mix of direct property, infrastructure, and insurance-linked securities alongside traditional pension assets. Its real estate exposure is concentrated in Dublin, where it directly owns high-profile commercial buildings. Confirmed positions include the Topshop building at 6-7 St Stephen's Green, an office at 72 Grafton Street, a 50% interest in the B&Q retail warehouse at Liffey Valley, the Ericsson Dublin head office in Clonskeagh, and a one-third stake in the IDA headquarters at Wilton Place. Industrial holdings span North Dublin Corporate Park in Swords and Kilcarberry Distribution Park on Nangor Road. The fund also maintains a global ILS allocation and infrastructure commitments. The portfolio carries an Altss-estimated $7.4B in assets, weighted heavily toward directly held Dublin commercial real estate. Willis Towers Watson provides pension administration through the ePA platform. The fund participates in industry networks including the Institutional Investor European Pensions Symposium, and its representatives engage with the Irish Venture Capital Association, appearing at judging panels and events. Its structural differentiator is the scale and direct ownership model of its real estate book — the fund acts as landlord to Dublin commercial properties rather than accessing property exposure solely through pooled vehicles, a hands-on posture uncommon among corporate defined-benefit plans.