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UK’s protection fund seeks investment head

UK – The Pension Protection Fund has advertised for a director of investment and finance to oversee its assets and resources.

“This role provides a unique opportunity to direct and oversee the management of the Pension Protection Fund’s assets and resources, and to develop its business strategy,” the job ad states.

“The successful candidate will have demonstrable experience of delivery in an investment management or financial services environment.”

In July PPF chairman Lawrence Churchill told IPE that the fund would outsource insolvent companies’ pension assets to asset managers via an open tender process.

He said in an interview it would take around two to three years before the assets would be able to be outsourced, bearing in mind the time it takes to wind up schemes. The PPF board would set investment strategy.

The PPF has also advertised for a director of operations, saying: “The successful candidate will have demonstrable experience of delivering in a highly technical environment and an ability to assimilate pensions related technical issues.”

Both roles, which will be board-level appointments, will be based in Croydon, south of London, and will command “six figure packages”.

Meanwhile the Department of Work and Pensions has advertised for board members for the Pensions Regulator, to be based in Brighton. Candidates will have to be able to “commit to the challenge of transforming pensions regulation in the UK”.

It would also be useful to have knowledge of work-based pensions and an awareness of the “political and economic structures within which pension schemes operate”.

Meanwhile, the DWP has named Sir Richard Tilt as chairman of the Social Security Advisory Committee, succeeding Sir Thomas Boyd-Carpenter.

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