The UK government has named the new chairman of the Pensions Regulator, appointing a former banker as successor to Michael O’Higgins.

Pensions minister Steve Webb said Mark Boyle, who will assume the role from April, was a “proven leader” with a wealth of experience.

The incoming chairman is currently independent non-executive chairman of the UK Land Registry and has worked at Lloyds Bank and Kleinwort Benson.

Commenting on his four-year tenure – a year longer than appointments for previous postholders – Boyle said: “I look forward to leading the board and ensuring the regulator continues to deliver its objectives while at the same time playing an active part in dealing with the challenges faced by the broader pensions industry.”

Boyle spent more than a decade working in senior management roles at catering and foodstuffs firm Compass Group and Rentokil Initial, as well as 15 years within the banking industry.

Until last September, he was also director and COO of the Shareholder Executive, the body within the UK government responsible for management of state-owned companies, including the Green Investment Bank.

Joanne Segars, chief executive of the National Association of Pension Funds, congratulated Boyle on his new role.

“Boyle joins at a busy time when the Regulator’s focus is on making sure the Government’s flagship automatic enrolment policy is successfully delivered and that it’s new strategic objective is implemented around DB regulation.

“We look forward to working with Mark on these challenges and those ahead,” she said.

Webb, meanwhile, thanked O’Higgins for his work over the past three years.

“Michael has successfully overseen major initiatives, including the launch of automatic enrolment, and I wish him every success for the future,” the Liberal Democrat minister said.

O’Higgins joined the regulator in early 2011, replacing its first chairman, David Norgrove, after he served two three-year terms.