The Department for Work and Pensions (DWP) has announced that Kate Jones will take over as chair of the Pension Protection Fund (PPF) when Arnold Wagner’s term ends on 1 July.

Jones has been a non-executive member of the PPF’s board since February 2016 and chairs both the Investment Committee and the Decision Committee.

She is also a member of the Risk and Audit Committee, and the Reconsideration Committee.

Her career includes experience of the UK asset management industry as an investor, senior business leader and board member across the financial services.

Previously, Jones has held senior roles at JP Morgan, BlackRock, Schroders and M&G.

“I’m proud to have the opportunity to lead the PPF in the next important phase of its evolution as we look to our future challenges, while always ensuring we’re able to continue to offer the very best protection to those who rely on us,” Jones said.

“I’ve been fortunate to serve on the board for the last five years and I’ve been impressed with the dedication and care shown to our members and levy payers by our employees. I look forward to working closely with them, our Board and executive team to further build our financial strength.

“I want to thank Arnold Wagner for his leadership and his significant contribution to the organisation over the last 10 years.”

Pensions Minister, Guy Opperman, said he that had “no doubt” Jones will “continue the excellent work the PPF has been doing” in offering protection to defined benefit scheme members.

PPF CEO, Oliver Morley, added: “I warmly welcome the appointment of Kate Jones as our new chair.

“She knows us well and brings a wealth of experience from her distinguished career as a senior business leader across the financial services industry. 

“Kate’s knowledge and leadership will be critical to us in meeting future challenges and continuing to deliver on our mission to protect members of defined benefit schemes. 

“I look forward to working closely with her and our board in the coming years. I would also like to thank Arnold Wagner for his outstanding contribution over the last decade.”

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