UK PPF chief quits
Myra Kinghorn, chief executive of the UK Pension Protection Fund, has resigned and will leave the firm within the next three months.
Kinghorn joined the firm in 2004 – she was previously a board member of the Occupational Pensions Regulatory Authority (Opra), which has now been succeeded by the Pensions Regulator, and a non-executive director of the Serious Fraud Office.The PPF said that she would continue as chief executive "hopefully until a new appointment can be made - otherwise the board will appoint an interim chief".Kinghorn's original contract was to run to August 2007. She justified her decision by saying: "I feel that after almost two years of involvement the time is right for me to step down and hand over the reins to someone who can build on our successes to date. This will allow me to redress my work life balance and return to my former part time non-executive career." The timing of her departure has still not been decided, but she is due to leave "in the spring", says a PPF spokesman. However, her contract specifies a six month notice period, starting from the submission of her resignation on 8 March, putting her earliest leaving date in September.The PPF refused to explain this discrepancy, saying that she "would be taking some leave in the notice period". Kinghorn's departure comes in the middle of the introduction of the PPF's risk-based levy. This replaces the flat-rate levy, which was criticized as subsidising badly-run funds. Employers have until the end of this month to submit final comments on the risk-based approach.Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on People
People: Citi snags Raghavan, SocGen bags Estrada, all change at NYCB, and more
Latest job changes across the industry
Kane to leave Citadel Securities for senior Miax role
Options exchange has been on a four-year acquisition spree
Asia moves: senior hires at Millennium, Citi, SMBC and more
Latest job news from across the industry
Ken Pang set to join Millennium as Asia equities head
Former Credit Suisse markets co-head joins hedge fund’s Hong Kong office
People: Risk shake-up at Santander, JPM juggles markets, and more
Latest job changes across the industry
People: UBS rejigs EQD, risk head departs; Rustad joins buy side, and more
Latest job changes across the industry
Rustad re-emerges at Taula Capital
Former JP Morgan clearing head to help prepare for Q2 fund launch
UBS to lose group banking book risk manager
Senior risk manager of Swiss banks’ combined banking books to leave for new opportunities
Most read
- As FCMs dwindle, regulators fear systemic risk
- Options market still searching for cause of the Vix plunge
- Top 10 op risks: AI fears drive cyber risk to record high