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The £10bn Royal Mail Pension Plan has appointed Michael Airey as its new chief executive officer, it announced this week.
Airey takes over from Richard Law-Deeks, who stepped down in June after six years in the role.
Airey was previously the scheme’s head of funding and investment, overseeing its outsourced investment arrangement with BlackRock. Before this role he was head of actuarial, and has also worked for the Royal Mail’s Senior Executive Plan and for the Post Office and Royal Mail sections in various roles.
Joanna Matthews, chair of Royal Mail Pensions Trustees, said: “Michael understands the demands and challenges that the plan faces, having worked with the trustee executive over the past eight years.
“This means he is well-placed to build on what has been achieved so far and maintain our momentum.”
IGG poaches regulator’s Davey for policy role
The Pensions Regulator’s (TPR) director Louise Davey is to join Independent Governance Group (IGG) as its head of policy and external affairs, a newly created role.
She starts at IGG on 7 October. The professional trustee and services firm said she would support engagement with “regulatory oversight and strategy”.
At the regulatory, where she worked for 17 years, Davey was most recently the interim director of regulatory, policy, analysis and advice. She led TPR’s policy and professional advice teams, working across defined benefit (DB), defined contribution and public sector pensions.
She oversaw the development and introduction of initiatives including the new DB funding code, superfunds guidance, the Value for Money framework and the General Code of Practice.
South Yorkshire’s Smith to retire after 40 years
The South Yorkshire Pensions Authority’s Sharon Smith, assistant director for investment strategy at the Local Government Pension Scheme, is to retire after 40 years with the organisation.
She joined the scheme from university as a trainee investment analyst, and has worked in various roles including managing UK and emerging market equities. She also helped oversee the transfer of assets and staff to the Border to Coast Pension Partnership.
The scheme said in a statement: “Her success and longevity in a predominantly male-dominated industry make her a trailblazer for women in finance.”
George Graham, director at the South Yorkshire Pensions Authority, said: “Sharon is one of only three members of staff who have been with [scheme] since its creation in 1988, but she holds the distinction of having the longest tenure with the pension fund – a fund she will soon join as a beneficiary.
“Such long service in what is effectively the same organisation is incredibly rare today and alongside her incredible investment track record deserves to be recognised and celebrated.”
South Yorkshire said a replacement for Smith’s position would join next month.
Dalriada Trustees appoints new directors
Professional trustee firm Dalriada has appointed 10 people to its board of directors, responsible for overseeing the company’s governance and stewardship.
The new directors are: Shehzad Ahmad, Sarah Ballantyne, Amanda Banister, Leanne Coomber, Geoffrey Farmer, Judith Fish, Julie-Anne Jones, Tiziana Perrella, Claire Sidebottom and Charles Ward.
In a statement, Dalriada said a diverse board “improves the robustness and quality of decision making and brings a broader perspective to discussions”.
TPT hires investment manager from Schroders
TPT Investment Management, which provides fiduciary management services to TPT Retirement Solutions, has hired Martin Shimell as a senior investment manager.
He was previously at Schroders, where he worked on the fiduciary management team having transferred from Centrica’s in-house pensions team in 2022.
Shimell will lead TPT’s portfolio management activities as well as helping to develop investment strategies.
Law Deb strengthens exec services team
Professional trustee firm Law Debenture has appointed Lauren Haworth as a pensions executive within Pegasus, its pensions executive services team.
She previously worked for Rothschild & Co and Mercer, and has experience in running DB and DC pension funds.
Pegasus has more than 20 staff supporting in-house pension teams with a variety of services.
Actuarial appointment at Broadstone
Dalbir Singh has been appointed as Broadstone’s new actuarial director, the company announced today (13 September).
He joins from WTW where he worked for 16 years, most recently as a director.
He said: “The continued growth in [Broadstone’s] consulting and actuarial division is a testament to the value of the Broadstone proposition and the strength of our local team.
“I’m confident that my experience in the sector will add value to our clients as they navigate the ever-evolving regulatory pensions landscape and the wide range of scheme endgames available.”
Freeths names new pensions director
Law firm Freeths has appointed Sean McNulty as pensions director. He joins from Penningtons Manches Cooper, where he was a managing associate, and has also worked at Blake Morgan and Pinsent Masons, among others.
McNulty has more than 15 years’ experience advising on all aspects of pensions law and all types of pension arrangements.
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