New non-executive director joins PPF's board
UK - The UK's £12bn (€15bn) Pension Protection Fund (PPF) has appointed Sharmila Nebhrajani as a non-executive director on its board.
Nebhrajani is currently chief executive of the Association of Medical Research Charities (AMRC), which represents the 125 medical research charities in the UK who between them fund more than £1bn (€1.27bn) of medical research.
Prior to joining the AMRC in November 2011, she was executive director of finance and performance for NHS Sussex for two years.
Nebhrajani also spent 12 years at the BBC where she was most recently the chief operating officer and finance director of BBC Future Media and Technology, managing the business functions of the public broadcaster's web presence.
As well as being a board member of the PPF, Nebhrajani will also sit on the fund's audit committee.
PPF chairman Lady Barbara Judge, said of the appointment: "Sharmila joins us at an important time in our development.
"We have £12 billion of assets under management, we are directly protecting more than 140,000 members and we are expanding our operations by bringing member administration in-house by 2014."
Earlier this month, the PPF appointed 10 new fixed income managers in an effort to broaden the scope of its investment strategy.
The lifeboat scheme's executive director of financial risk Martin Clarke said the appointment of managers including AllianceBernstein and Morgan Stanley Investment Management marked the "next phase" for its extensive fixed income investments.
The selection of 10 new managers, as well as the re-appointment of five existing managers, will allow the fund to award mandates across absolute return, asset-backed securities, emerging market debt, global sovereigns and corporate credit strategies.