One of the UK voluntary sector’s highest-paid people to step down

Peter Pereira Gray has spent 20 years developing the Wellcome Trust’s investment portfolio

Peter Pereira Gray (Photograph: Wellcome Trust)
Peter Pereira Gray (Photograph: Wellcome Trust)

One of the highest-paid people in the voluntary sector is stepping down from his job.

Peter Pereira Gray, chief executive of investments at Wellcome Trust, is leaving the position in October, after more than 20 years at the charity. 

During his time with the charity, Wellcome’s assets have grown from £13.5bn in January 2001 to £38.2bn in September last year. 

Third Sector understands that Pereira Gray, who helped oversee the charity’s investment portfolio, was the second-highest earner at Wellcome. 

He took home a package, including bonus, long-term incentive plans and allowances, worth about £7.8m in 2021.

The trust has consistently said it was more effective to have its own in-house investment team than to pay outside managers to administer its huge portfolio. 

The charity said Pereira Gray would continue to advise Wellcome and will retain his place on its valuation committee.

Pereira Gray joined Wellcome in 2001 as head of property investment, and was made managing partner in 2016 and chief executive of investments in 2017.

A spokesperson for Wellcome said there were no immediate plans to recruit a replacement and that Nick Moakes would continue to lead the investments team.

Pereira Gray said he was “immensely proud” of his time at the charity. 

“Wellcome has one of the best long-term investment performance track records anywhere in the world and I am delighted at the contribution that this has made to funding Wellcome’s charitable mission,” he said. 

Jeremy Farrar, the charity’s chief executive, said Pereira Gray had “done more than most to create the Wellcome that exists today”.

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