The UK’s pension recovery unit, the Pension Protection Fund, has hired a new head of environmental, social, and corporate governance (ESG), and has also named a new chief risk officer (CRO).
Stephen Wilcox will become the CRO of the $40 billion fund, replacing Hans den Boer. Wilcox is coming off an eight-month career break, where he chose to “recharge batteries and consider my future,” according to his LinkedIn page.
Wilcox had previously served as CRO of Allianz Insurance, where he built its first comprehensive risk team and implemented compliance with Solvency II, a European Union (EU) directive. This mostly concerns the amount of capital EU insurance companies need to reduce the risk of insolvency. He was with the insurer for 21 years.
Claire Curtin will be the pension safety fund’s head of ESG, further developing its responsible investment strategy. Curtin last worked as head of research, financial institutions for Trucost, a consultancy now part of the S&P Dow Jones Indices.
The protection fund’s index, which tracks the deficit of the 5,588 pension plans eligible for its services, held an average funding level at 93.1%. The plan itself is 121.6% funded, according to its latest annual financial report.
By Chris Butera