On the go: The Pension SuperFund has announced the appointment of a new chief executive officer as part of a governance shakeup as it awaits authorisation from the Pensions Regulator.
Michael Clark, previously global head of pensions at Shell, where he was responsible for the group’s pensions governance and administration, will take up the role of CEO at PSF, a move PSF co-founder Luke Webster said would “further enhance our governance and separation of duties”.
Webster said the move would allow him “to represent capital providers’ interests whilst Michael leads the executive team and works with the trustees to ensure members’ best interests are always paramount”.
Clark said: “I am delighted to have joined the Pension SuperFund as it prepares for its place as an important participant in the corporate pensions arena.”
“It is vital that the best series of options are available for corporate pensions trustees and I am confident that the Pension SuperFund positively adds to the mix. To be able to improve the outlook for pensioners in these uncertain times is hugely important and we look forward to being a robust and long-term custodian of their retirement benefits,” he added.
Clara Pensions became the first commercial consolidator to officially enter the market when it gained clearance from the Pensions Regulator last year, but there is as yet no news on when PSF will begin to operate.
Chris Hitchen, corporate chair of PSF, said: “As the Pension SuperFund works towards the critical milestone of a positive assessment from the Pensions Regulator, it is vital that we have the right leadership structure in place to manage PSF’s development as a custodian of pension obligations. Michael has a lifetime of experience in pensions and will be able to bring that track record and experience to bear for our members, trustees and investors.”
