Pension Insurance Corporation plc (PIC) has announced that David Weymouth has been appointed Chairman of its Board, as well as Chairman of the Board of PIC’s parent company, Pension Insurance Corporation Group Limited (PICG).
Weymouth will join both the PIC and PICG Boards on 1st October, 2022, and take up his roles as Chairman of each subsequently, subject to regulatory approval.
Weymouth will replace Jon Aisbitt, who announced in January his intention to step down once a successor had been identified.
Currently Weymouth serves as Chairman of OSB Group PLC, Mizuho International, and FIL Investment Services (UK) Limited. He is also a Non-Executive Director at Marsh Limited and FIL Holdings (UK) Limited.
Weymouth has announced his intention to step down from his Board roles at Fidelity International prior to taking up his appointments at PIC.
With 45 years of experience across a wide number of sectors in financial services, Weymouth will bring a large amount of expertise with him towards his new roles at PIC & PICG.
Throughout his executive career, he has served on the Group Executive Committees of Barclays and Royal Sun Alliance, as Chief Information Officer and Chief Risk Officer respectively. In addition, he has also previously served as Senior Independent Director on the Board of the Royal London Mutual Insurance Society, chaired the Audit Committee at Bank of Ireland UK, and the Risk Committee at the Financial Services Compensation Scheme.
Furthermore, Weymouth has also previously served as Non-Executive Director on boards in the public sector, the charitable sector, and in the US.
Addressing his appointment, Weymouth, said: “I am very excited to have the opportunity to join a growing business with such a clear commitment to focus on and provide high levels of service to the many pensioners that make up PIC’s customer base. Providing structural solutions for the challenges faced by many defined benefit trustee boards has genuine and long term social value.
“Opportunities to join a business like PIC with committed owners, a strong board and a highly regarded management team are rare, and I look forward to supporting all of them in the next phase of the business’s development.”
Tracy Blackwell, CEO of PIC, said: “I am delighted that David has become Chairman of PICG and PIC. He has a terrific 45 year track record in financial services, holding senior executive and Non-Executive Director roles at significant companies. David’s experience will serve our business well as PIC continues to grow and we expand our presence across the UK.
“I also want to thank Jon Aisbitt for his strong leadership of our Boards and the considerable skill he has shown in guiding the evolution of our corporate governance structures and processes in line with the growth we have experienced during his tenure.”
