Pension Insurance Corporation PLC PIC Appoints David Weymouth as Chairman (0571S)
July 12 2022 - 3:00AM
UK Regulatory
TIDM37PB
RNS Number : 0571S
Pension Insurance Corporation PLC
12 July 2022
PIC APPOINTS DAVID WEYMOUTH AS CHAIRMAN
London, 12 July 2022 - Pension Insurance Corporation plc
("PIC"), a specialist insurer of defined benefit pension schemes,
today announces that David Weymouth has been appointed Chairman of
its Board, as well as Chairman of the Board of PIC's parent
company, Pension Insurance Corporation Group Limited ("PICG"). He
will join the PIC and PICG Boards on 1 October and take up his
roles as Chairman of each subsequently, subject to regulatory
approval. David replaces Jon Aisbitt, who announced in January his
intention to step down once a successor had been identified.
David has 45 years of experience across a number of sectors in
financial services. During his executive career he served on the
Group Executive Committees of Barclays and Royal Sun Alliance, as
Chief Information Officer and Chief Risk Officer respectively. He
has previously served as Senior Independent Director on the Board
of the Royal London Mutual Insurance Society, chaired the Audit
Committee at Bank of Ireland UK, and the Risk Committee at the
Financial Services Compensation Scheme. He has served as
Non-Executive Director ("NED") on boards in the public sector, the
charitable sector, and in the US.
He is currently Chairman of OSB Group PLC, Mizuho International,
and FIL Investment Services (UK) Limited. He is also a NED at Marsh
Limited and FIL Holdings (UK) Limited. He has announced his
intention to step down from his Board roles at Fidelity
International prior to taking up his appointments at PIC.
David said: "I am very excited to have the opportunity to join a
growing business with such a clear commitment to focus on and
provide high levels of service to the many pensioners that make up
PIC's customer base. Providing structural solutions for the
challenges faced by many defined benefit trustee boards has genuine
and long term social value. Opportunities to join a business like
PIC with committed owners, a strong board and a highly regarded
management team are rare, and I look forward to supporting all of
them in the next phase of the business's development."
Tracy Blackwell, CEO of PIC, said: "I am delighted that David
has become Chairman of PICG and PIC. He has a terrific 45 year
track record in financial services, holding senior executive and
Non-Executive Director roles at significant companies. David's
experience will serve our business well as PIC continues to grow
and we expand our presence across the UK.
"I also want to thank Jon Aisbitt for his strong leadership of
our Boards and the considerable skill he has shown in guiding the
evolution of our corporate governance structures and processes in
line with the growth we have experienced during his tenure."
- ends -
Notes to Editors:
1) The Pension Insurance Corporation Group includes Pension
Insurance Corporation Group Limited, the group holding company;
Pension Insurance Corporation plc (PIC), the Group's regulated
insurer; and Pension Services Corporation Ltd, the group's service
company.
For further information please contact:
Pension Insurance Corporation Jeremy Apfel +44 (0)20 7105 2140
apfel@pensioncorporation.com
Apella Advisors Andrew Brown +44 (0)7721 513777
PIC@apellaadvisors.com
About Pension Insurance Corporation
The purpose of PIC is to pay the pensions of its current and
future policyholders. PIC provides secure and stable retirement
incomes through leading customer service, comprehensive risk
management and excellence in asset and liability management. At 31
December 2021, PIC had insured 282,900 pension scheme members and
had GBP51.1 billion in financial investments, accumulated through
the provision of tailored pension insurance buyouts and buy-ins to
the trustees and sponsors of U.K. defined benefit pension schemes.
Clients include FTSE 100 companies, multinationals, and the public
sector. PIC is authorised by the Prudential Regulation Authority
and regulated by the Financial Conduct Authority and Prudential
Regulation Authority (FRN 454345). For further information please
visit www.pensioncorporation.com
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END
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