Darracott joins from Legal & General Investment Management where she worked for 12 years, most recently as head of digital investing. She also led LGIM’s investment into Smart three years ago.
In her new role she will lead the strategic evolution of the business, as it expands into the broader DC and platform markets.
Darracott says: “In a short space of time Smart Pension has evolved beyond being just an auto enrolment provider, and it has the ability to be a disruptive player in financial services for years to come.
“Because its technology is new, without the legacy issues other traditional pension firms have to struggle with, it can move seamlessly into the wider DC world and offer its technology as a third party platform provider to a global market.”
Smart Pension co-founder and chief executive Andrew Evans, says Darracott’s role is to “join the dots” as the company evolves from auto enrolment to DC pensions and beyond.
Darracott will be working closely with former Virgin chief executive Stephen Murphy, who heads up the firm’s board and is helping to develop the businesses international ambitions.
Smart Pension is an online workplace pension provider and master trust. Its automated platform allows savers to self-select investments via their mobile phone or online portal and see valuations in real time.