This week's people on the move are..
Two non-executive directors reappointed to TPR board
Katie Kapernaros and Chris Morsonhave been reappointed as non-executive directors on The Pensions Regulator's (TPR) board for another four years, starting 1 April 2024.
Their first term in the role is due to end on 31 March 2024. Morson will also continue in his role as chair of the TPR audit, risk and assurance committee.
Sarah Smart, chair of the TPR, said: “I am delighted that Katie and Chris have been reappointed. They both have a diverse combination of background and skills that will be really important for us as we develop the next phase of our corporate strategy and progress our journey to becoming a data-led and digitally enabled regulator."
Changes at Hymans Robertson risk transfer team
Pensions consultancy Hymans Robertson has promoted risk transfer specialist Claire O’Neill to operations lead of its risk transfer team.
O'Neill Claire will have operational responsibility for the team which has taken on six recruits since the end of 2022 and now includes 30 risk transfer specialists. She will take ownership of everything from resourcing client projects through to knowledge sharing and people development, whilst continuing to advise trustees and sponsors on their own risk transfer projects.
O'Neill, succeeds Iain Church who has been promoted to head of core transactions. She joined Hymans Robertson in October 2021 from Mercer’s risk transfer team where she focused on helping clients reduce the risk in their defined benefit pension schemes through a range of de-risking strategies, including both risk transfer transactions and member options exercises. Since joining, she has worked and advised on risk transfer projects for pension schemes ranging in size from £6m up to several billion pounds
O’Neill said: “I’m excited to expand my reach by ensuring our 30-strong team of market-leading risk transfer specialists continue to have the tools, processes and capacity it needs to lead our clients and prospective clients through an exceptionally busy risk transfer market.”
James Mullins, partner and head of risk transfer, Hymans Robertson, said: “Since Claire joined us nearly two years ago, she’s consistently received excellent feedback from clients and colleagues on her risk transfer work. I know she’ll step brilliantly into the role as operations lead for our award-winning Risk Transfer team. This role is more important than ever given the continued growth of our team and the number of transactions on which we lead."
Capital Cranfield strengthens sole trustee and scheme secretarial teams
Capital Cranfield is pleased to announce that Andrea Lloyd and Wai Wong have joined the firm's central sole trustee team.
Lloyd is a qualified actuary who advised both trustee boards and sponsoring employers for over a decade at Mercer and who has also worked as an early resolution adviser for the Pensions Ombudsman.
Wong has over a decade's trustee experience and is a governance professional who has held senior company secretarial roles with organisations including Elementis, John Menzies and PwC.
The firm has also hired Claire Bellamy into its growing scheme secretarial team. Claire, who joins having fulfilled a similar role at Capita, will be based at the firm's Nottingham office.
Harus Rai, managing director said: "These appointments highlight the increased demand for our sole trustee and secretarial services and their importance to the business.”
Jackie Wells joins Fidelity IGC
Fidelity International has announced the appointment of Jackie Wells as a new member of its independent governance committee (IGC).
Wells will join Kim Nash, independent governance committee chair, as well as members Dianne Day, Gerald Wellesley and Roger Breeden.
Jackie Wells has worked in the pension sector for many years, initially working in the life assurance sector before moving to Bacon & Woodrow and Deloitte as part of their strategy consultancy arms.
Most recently, she has worked as an independent consultant, helping pension schemes on policy issues including value for money. She is also a member of the Guiide governance committee overseeing DB to DC transfer advice, supports Age UK national’s influencing committee and is a director of Age UK Wiltshire.
Nash commented: “Jackie brings diverse skills to the board and her policy knowledge along with a focus on member outcomes are a welcome combination.
“Jackie’s experience in a wide range of issues including the impact of value for money on later life finances is valuable to the board as well as outcomes for members.”
M&G appoints Clive Bolton as life insurance CEO
M&G has appointed Clive Bolton as chief executive officer of M&G Life Insurance.
In his new role, Clive will be responsible for developing and growing the range of Pru Fund products available across the UK and Europe.
He brings extensive experience of the life and pensions market having spent over a decade at Aviva Life UK, including five years as managing director of retirement solutions. He joins from LV= where he is currently managing director of protection, savings & retirement.
Clive will join M&G in September and become a member the group’s executive committee, reporting to group CEO, Andrea Rossi.
Andrea Rossi, group chief executive officer, M&G plc said: “With a proven track record of growing and developing life businesses based around the needs of customers and advisers, Clive brings a broad understanding of the life and pensions market that will be key to supporting our existing customers, alongside the development of new innovative solutions that will underpin our growth ambitions.”
New investment lead for Aon
Aon has appointed Maria Johannessen as UK head of investment.
She was previously investment client leader and investment leader for the London region, having joined Aon as a senior partner in June 2022.
Johannessen has more than 20 years’ investment experience, working in client advisory, investment banking and asset management. She has held senior roles at Mercer, PwC, BlackRock and UBS Investment Bank.
She succeeds Tim Giles, who has left Aon after 25 years to seek new challenges and opportunities.
Michael Clare, head of wealth solutions in the UK at Aon, said: “Maria Johannessen's depth of experience in both technical and advisory capacities and her curiosity have enabled her to deliver creative and innovative solutions to clients, helping them to navigate new forms of volatility and to make better decisions as they address complex challenges.
“I am confident that Maria will further develop and drive the Investment business in the UK.”
New chair of Transition Pathway Initiative
The Transition Pathway Initiative (TPI) board has announced that David Russell will take over as the chair, when Adam Matthews steps down from the board in September.
Russell is the former head of responsible investment for the Universities Superannuation Scheme (USS), the UK’s largest pension scheme and has served on the TPI board since its inception.
He has also been a steering committee member of the Institutional Investors Group on Climate Change (IIGCC) from its establishment in 2001 until it was incorporated and continues to be an advisor to the board.
He is also a former board member of the PRI Association, and until recently was on the board of the International Centre for Pensions Management.
Jake Barnett, from US-based Wespath Benefits and Investments, has also been appointed as chair of the TPI Strategic Advisory Committee.
Standard Life appoints Amy Madden as customer office director
Standard Life, part of Phoenix Group, has appointed Amy Madden to the newly created role of customer office director.
Madden, who has over a decade of senior leadership experience in financial services, will lead the customer functions within Standard Life’s pensions and savings business, bringing together customer services and the teams in charge of developing customer experience, customer strategy, digital innovation, and investment solutions.
She joins Standard Life from Equiniti, where she most recently held the role of global chief customer officer. Prior to this, Amy held several senior positions focused on growth, transformation, marketing and communications in the UK and US, as she moved through her career at Equiniti.
Madden will report to Colin Williams, managing director for pensions and savings at Standard Life.
Williams commented: “People in the UK are facing economic challenges from a number of angles at the moment as stubborn inflation and spiralling interest rates hit their pockets, and now more than ever we have an enormous amount of responsibility to service our customers’ needs in a way that creates the best outcomes possible for them, in the short and long-term. Amy has both the skill and the will to lead us through the challenges and opportunities ahead.”
Standard Life has also announced two new senior appointments into the commercial team that supports its retirement solutions business.
Kenny McIvor joins as head of trading and David Burton joins as head of platforms and process. Both add further capability to drive business growth through the effective and efficient management of risk and will report into Justin Grainger, commercial and finance Director, responsible for managing the group’s £32bn annuity book.
