Plumbing Pensions has announced that Stephen Graham has been appointed as its chief executive, effective from 1 July 2024.

The trustee company manages and administers the Plumbing & Mechanical Services (UK) Industry Pension Scheme.

It has overall responsibility for the effective running of the scheme, which has more than £1.2bn in assets and 31,000 members.

Graham was promoted from his current position of operations manager to take over the role from current chief executive, Kate Yates.

Yates will leave the company at the end of June to assume a new role with Lloyds Banking Group, having been chief executive of Plumbing Pensions since 2016.

Graham started his career as an actuarial analyst at Mercer and joined Plumbing Pensions in 2017.

Since joining the company, Graham has set the strategy and “driven key changes” to the operational aspects of the business.

He is also a member of the Pensions Management Institute and sits on the Pensions and Lifetime Savings Association’s Defined Benefit Pensions Committee.

“We would like to extend our thanks to Kate for her commitment and dedication over the last eight years and wish her well for the future,” commented KB Independent Trustees independent pension trustee and trustee company chair, Jon Bridger.

“On behalf of the trustee, we wish Stephen every success and look forward to collaborating with him to ensure we continue our mission to provide cost-effective, secure pensions for the plumbing, mechanical and allied services industry now and into the future.”

---