Appointments: Interim CEO for PIC; BW names head of sole trusteeship

Pension Insurance Corporation (PIC) has named Dom Veney as its interim chief executive officer. Currently the insurer’s chief financial officer, Veney will take over as CEO when Tracy Blackwell steps down at the end of this year.

The search for Blackwell’s permanent successor was extended following the announcement of PIC’s acquisition by Athora in July, which is due to close early next year.

Veney joined PIC in 2018 as chief actuary and was appointed CFO in 2021. His 30 years of experience include leading the UK life actuarial practice at PwC.

David Weymouth, PIC’s chairman, said: “When Tracy announced her retirement  at the start of the year, we agreed that she would remain in place until the end of the year to help oversee an orderly transition. I have therefore agreed with Tracy that she can retire from PIC in line with our original plan.

“I am confident that Dom’s experience, integrity, and deep understanding of our business will ensure continuity and continued success for PIC. I look forward to working with him in my ongoing role as chairman.”

M&G taps BlackRock for distribution chief 

M&G Investments has appointed Andrew Reid as head of UK institutional distribution, responsible for engagement with defined benefit (DB) and defined contribution (DC) pension schemes and the Local Government Pension Scheme, as well as consultants.

Reid joins from BlackRock, where he was head of the UK DB relationship management team. He has previously worked for Insight Investment, Deutsche Bank, Credit Suisse, and Watson Wyatt (now WTW). Reid will take over from Grant Hadland in February 2026.

Neil Godfrey, global head of client group at M&G, said: “Andrew’s appointment is aligned with our strategic priority to expand our institutional distribution capability to bring our investment expertise to a broader range of clients. I would like to thank Grant for his significant contribution to M&G and wish him the best for the future.”

Barnett to lead sole trusteeship work at Barnett Waddingham

Consultancy group Barnett Waddingham has named David Barnett as head of its corporate sole trustee services. The company said Barnett would work with trustee partners to “enhance client outcomes”, as well as helping to develop its sole trustee proposition.

Sole trustee arrangements are increasingly popular, with Hymans Robertson reporting earlier this year that the number of appointments had increased by 13% year-over-year.

Alex Pocock, managing partner for pensions and investment services at Barnett Waddingham, said: “The landscape of trusteeship continues to shift, and corporate sole trustee is set to define the direction of pension scheme trusteeship over the coming decade. As our integration with Howden continues, we want to work with our trustee partners to deliver the best outcomes for our mutual clients and the industry more widely.”

Barnett added: “With around a quarter of all pension schemes operating under a corporate sole trustee model, and with this only expected to grow, I’m delighted to lead our approach and proposition in this important area. It offers the opportunity to improve decision-making efficiency and enhance expertise, and I look forward to working in partnership with the industry to further develop best practice.”

Sackers boosts ranks with Clarridge hire

Law firm Sackers has appointed Owen Clarridge as an associate, bringing its lawyer count to 79.

Clarridge trained at Slaughter and May and has been a lawyer for four years. In his new role, he will advise trustees and employers on a broad range of DB and DC pension issues, Sackers said in a press release.

David Saunders, senior partner at Sackers, said: “We are committed to ensuring our clients receive the highest quality advice and service by maintaining strong, well-balanced teams. Owen’s arrival further strengthens our resources, bringing expertise that will enhance the support we provide to clients.”

Trio of senior appointments at L&G

Legal & General (L&G) has named Lesley-Ann Morgan as its new global head of DC, responsible for leading the distribution and commercial strategies for the financial services giant globally.

Morgan comes to the newly created role from Schroders, where she worked since 2011 in a number of senior leadership roles – most recently as global head of pensions and retirement. Before this, she spent 18 years as an investment consultant and partner at Towers Watson (now WTW).

Chief client officer Sarah Aitken said Morgan’s appointment was “an exciting step forward in our ambition to grow and evolve our DC business”.

Separately, L&G has hired two senior executives to boost its leadership team. Emma Holden has been appointed as chief people officer, while Andy Sinclair joins as chief strategy and investor relations officer. The pair will take up their new roles in January.

Subject to regulatory approval, Holden will join from Man Group, where she is currently chief people officer. She previously spent 17 years at Schroders in various positions across HR, communications, and investor relations.

Sinclair is currently managing director and head of the European insurance team at Bank of America Securities. He has previously worked at Standard Life and is a fellow of the Institute and Faculty of Actuaries.

Bexston boosts Broadstone DC team

Consultancy group Broadstone has appointed Adam Bexson as a senior consultant within its DC team. He joins from Verlingue, where he was a senior corporate pension consultant.

Bexson has worked in the DC sector for 20 years, including roles at Brooks Macdonald, Barnett Waddingham and Alexander Forbes.

Bexson said: “I join Broadstone at a time of significant regulatory, legislative and fiscal change within the pensions market. As we look ahead to the Budget later this month, and the uncertainty it brings, it is clear that there is strong demand from employers and employees for clear, actionable and expert advice to support their long-term pension and benefit decision-making.”