Clara-Pensions – the new DB consolidation firm – has made another senior appointment, appointing Churchill as the chairman of its board.
Churchill was the founding chairmen of the Pension Protection Fund and advised on pension policy during the early 2000. He is currently chairman of the Pensions Policy Institute, and chair of the Prudential’s Independent Governance Committee.
This announcement comes a week after Clara named Alan Pickering – another pensions heavyweight – as chairman of its trustee board.
Clara is expected to announce its first transaction before the end of the year. It will focus on fully-funded schemes and target smaller pension funds.
Churchill described Clara-Pensions as being at the forefront of a “nascent industry”.
He says: “I have devoted my career to forging innovative solutions for the important issues that impact members’ pensions. Spurred on by encouragement from the government, financial consolidation for defined benefit pension schemes has emerged as the newest frontier.”
Clara-Pensions chief executive Adam Saron says that Churchill will be a key asset to the firm, particularly in its liaison with industry stakeholders, regulators and government.