The UK’s pension lifeboat has relocated its investment office from Croydon to central London as it follows an “aggressive” hiring strategy to bring more asset management in-house.

The Pension Protection Fund, a government-launched agency established to take on schemes attached to bankrupt companies, has been based in the south east London borough since it was set up in 2004. Croydon was chosen partially due to the relatively cheap location and easy transport links to the Square Mile.