PENSION PROTECTION FUND - Key Persons
Barry Kenneth - Chief Investment Officer
Job Titles:
- Chief Investment Officer
- Member of the Executive Committee
Barry is responsible for our investment strategy and leads our Restructuring and Insolvency team.
Barry is responsible for setting our investment strategy and making sure we invest our assets in line with it. This is to make sure we have enough money to pay our members for as long as needed.
Barry is responsible for setting our investment strategy and making sure we invest our assets in line with it. This is to make sure we have enough money to pay our members for as long as needed.
Barry's previous role was at Morgan Stanley, where he was Managing Director and Head of UK fixed income institutional and pensions coverage.
Prior to this, he was Director at the Royal Bank of Scotland advising on risk management and balance sheet management solutions for large corporate clients. He later specialised in pensions and insurance companies.
Barry holds a BA (Hons) in Accounting from the University of Abertay.
Job Titles:
- Chairman
- Member of the Board
- Non - Executive Director
- Senior Independent Director
Chris is our Senior Independent Director, Chair of the Investment Committee, and a member of the Nomination Committee.
During his executive career, Chris Cheetham spent 41 years working in the investment management industry, most recently as Global Chief Investment Officer for HSBC's global asset management business.
During his executive career, Chris Cheetham spent 41 years working in the investment management industry, most recently as Global Chief Investment Officer for HSBC's global asset management business. Previous roles include Global CIO for AXA Investment Managers, CEO at AXA Sun Life Asset Management and Director of Investment Strategy and Research at Prudential Portfolio Managers (now M&G).
He now holds a number of non-executive roles, including Trustee of the BT Pension Scheme and roles with The Peoples Pension and the Science Museum Foundation.
Job Titles:
- Director of Investment Operations
Dana Grey - Chief Risk Officer
Job Titles:
- Chief Risk Officer
- Member of the Executive Committee
- Chairman of the PPF 's Diversity
- Non - Executive Director of Croydon BID
Dana is the Chief Risk Officer, responsible for all of our risk functions and overseeing compliance, ethics and data protection.
Dana joined the Pension Protection Fund in 2009 and became Head of Legal in 2013.
Before joining us, Dana was a pensions lawyer in private practice at City firms including Mayer Brown and Taylor Wessing.
One of her first achievements with us was establishing and heading up the Operations Solutions team, responsible for process improvement, pensions technical support, high-profile/complex schemes and panel management.
Dana then led the establishment of the Compliance & Ethics function at the PPF becoming Director of Legal, Compliance & Ethics and the organisation's Data Protection Officer on its completion.
Dana is also Chair of the PPF's Diversity and Inclusion Sponsorship Group. She co-founded the inaugural employee network group for gender and is a co-lead of the PPF's Race Action Group. Dana is also a Steering Group member for the Diversity Project.
Outside of the PPF, Dana is a Non-Executive Director of Croydon BID and a member of its Finance and Audit Committee.
Job Titles:
- Member of the Board
- Non - Executive Director
David has held a variety of senior international roles in finance and risk management during his 23-year career at Goldman Sachs, most recently as a Senior Managing Director of the Risk Division.
A Chartered Accountant by training, David is also a Non-Executive Director at Mizuho International plc, Hertfordshire Partnership University NHS Foundation Trust, and Credit Suisse UK Limited.
In his spare time David is a lifeboat volunteer for the RNLI in Wales and an independent humanist funeral celebrant.
Job Titles:
- Executive
- General Counsel
- Member of the Executive Committee
As General Counsel, David looks after strategy and policy, oversees the levy and has ultimate responsibility for our legal affairs. He's also a member of the Decision Committee.
David was appointed to the Board as an Executive Director and General Counsel in 2015. He's responsible for the development, communication and maintenance of our strategic plan. He also leads on policy development, including in relation to the PPF levy.
David Taylor was appointed to the PPF Board as an executive director and General Counsel in 2015. David joined the PPF shortly after its establishment in 2005 and has since taken on responsibility for areas including policy, strategy, restructuring/insolvency and Board support. The PPF levy has been a particular focus throughout, with David leading both development and operational delivery since 2014.
Earlier in his career, David specialised in corporate and commercial law. He spent ten years in private practice at Linklaters and US firm WilmerHale. He is a trustee of Roundabout Dramatherapy.
Job Titles:
- Director of Operations Investment
Job Titles:
- Chairman of the Remuneration Committee
- Member of the Board
- Non - Executive Director
- Chairman of the Board of Forester Life Limited
- Trustee of Phoenix Futures
Emmy is Chair of the Remuneration Committee and a member of the Investment Committee.
Emmy has held a variety of international roles in financial services and was a member of the executive committees of Fortis Investments and UBP Asset Management.
Until 2018 Emmy was Senior Policy Advisor at the Organisation for Economic Co-operation and Development (OECD) with a focus on pension funds and investment governance.
Emmy is a trustee of Phoenix Futures, a charity. She is a member of the With-Profits Committee of The Royal London Mutual Insurance Society, Chair of the Employer Committee of the Social Housing Pension Scheme and a Non-executive Director and Chair of the Risk and Investment Committee of Forester Life Limited.
Job Titles:
- Head of Investment Strategy
Job Titles:
- Executive
- Member of the Board
- Non - Executive Director
Jim joined the Board in October 2023. He is a member of the Investment, Remuneration and Reconsideration Committees.
Jim Gallagher is an experienced non-executive director, having been a board member for some of the country's largest pension and life assurance companies.
In addition to his extensive Board experience, Jim has held a fellowship at Nuffield College, Oxford, and is an Honorary Professor in the School of Law at Glasgow and in the Centre for Constitutional and Legal Research at St Andrews.
During his senior executive career in public service Jim held a number of influential positions in Number 10, the Cabinet Office and the Scottish Office, including as senior advisor on devolution to Prime Minister Gordon Brown and as Private Secretary to successive Secretaries of State for Scotland.
Prior to joining the PPF Board he also held non-executive roles at Phoenix Life, Standard Life, Reassure UK (a consolidator), Legal & General, Police Mutual, Royal London Assurance, Scottish Mutual and others. Jim was also a Member of the Council and then the Regulatory Committee of the Law Society of Scotland and is a Trustee of the Royal Society of Edinburgh Scotland's National Academy.
Job Titles:
- Chairman
- Chairman of the Board
Kate is our Chair. She's also Chair of the Non-Executive Committee, the Decision Committee and the Nomination committee.
Kate's career spans senior investment leadership and Board roles in the financial services industry including JP Morgan, BlackRock, Schroders and M&G.
She began her career as a portfolio manager at Prudential M&G before playing an instrumental role in the growth of BlackRock's Solutions business where she built and led the portfolio management function with responsibility for over £300 billion of assets.
Kate is non-executive Chair of JP Morgan Funds Limited. Prior roles have included Director of Blackfinch Spring VCT, Trustee and Chair of the Investment Committee for Smart Pension Master Trust and Chair of Trustees of Financial Education charity, Redstart Educate.
Working with senior executives in multiple sectors across the UK, Kate is also the co-founder of executive coaching business &become.
Job Titles:
- Chief People Officer
- Executive
- Interim Chief Executive Officer
- Member of the Executive Committee
Katherine is our interim Chief Executive Officer and Chief People Officer.
Katherine is our interim Chief Executive Officer and Chief People Officer.
Katherine makes sure we attract and retain the right people and shapes our communications, overseeing how we engage with our staff, stakeholders and the media. As interim CEO, she is also responsible for overseeing our day-to-day operations and long-term strategy.
"I'm really proud of the working environment that the PPF has created. It is a great place to work that allows people to reach their potential while delivering brilliant service for all stakeholders."
Katherine makes sure we attract and retain the right people and shapes our communications, overseeing how we engage with our staff, stakeholders and the media. Katherine has worked in senior level HR positions in both private and public sector organisations.
Before joining us, Katherine was head of HR, regulated industries, at the engineering consultancy Kier, previously Mouchel. Her work received industry recognition and delivered a two-year people strategy that increased the organisation from 800 to 2,500 people through organic growth and acquisition.
She also implemented an employee engagement strategy aimed at significantly reducing staff turnover, which resulted in Mouchel securing a top 20 place in The Sunday Times' Best Companies to Work For.
Katherine currently holds a non-executive role at Isle Utilities. She has an MSc in Social and Applied Psychology from the University of Kent and lives in London.
Job Titles:
- Member of the Board
- Non - Executive Director
- Associate Executive Coach and Non - Executive Director
- Member of the Reconsideration Committee
Liz is a member of the Reconsideration Committee, Risk and Audit Committee and Remuneration Committee.
Liz Woolman is an accredited associate executive coach and non-executive director with over 25 years' experience in the technology and financial services sectors.
Liz is currently a non-executive director at both the Local Pensions Partnership Administration Limited and Anglo Saxons Friendly Society.
During her executive career Liz managed an extensive technology portfolio for BT Group leading a successful digital transformation, launching innovative new products and services, increasing efficiency and implementing new systems and technology platforms.
Prior to joining the PPF Board she was also a non-executive director at the Places for People Group.
Job Titles:
- Chief Executive Officer
- Member of the Executive Committee
Michelle Ostermann joined us as our Chief Executive Officer on Monday 1 April 2024.
She brings over 30 years of pension investment and senior leadership experience. She's the Chair of the global pension industry association, International Centre for Pension Management (ICPM) and is widely recognised for her outstanding global network and knowledge of pension systems.
Michelle has held several other senior positions at leading firms, including the Managing Director of Railpen Investments in the UK and most recently Senior Vice President and Global Head of Capital Markets at PSP Investments in Canada.
Job Titles:
- Member of the Board
- Non - Executive Director
- Chairman of the Reconsideration Committee
Nailesh is Chair of the Reconsideration Committee and a member of the Remuneration Committee.
Nailesh began his career practising law at Linklaters and McDermott, Will and Emery LLP.
He then moved to Coventry Building Society as Group General Counsel and Company Secretary, where he was also Secretary to the Pension Scheme Trustees.
Nailesh has lived and worked in Canada, the USA and South East Asia in a global career, including as a Senior Executive with Petronas.
Nailesh recently completed an assignment working as an Adviser to the COVAX Facility, working with sovereign governments and international organisations in order to achieve a more equitable distribution of Covid-19 vaccines around the world.
He is a non-executive director at Newbury Building Society, UCL Hospital and Birmingham Women's & Children's Hospital NHS Foundation Trusts, and a trustee of the charity United Way UK.
Oliver oversees the development, direction and management of the organisation. He's a member of the Decision Committee and the Investment Committee.
Oliver has been Chief Executive of the PPF since 2018. He is responsible for overseeing our day-to-day operations and long-term strategy.
He had been Chief Executive of DVLA with over 45 million customers and £6 billion of revenue since 2014. Before this, he was Chief Executive and Keeper of The National Archives from 2010.
Prior to this, Oliver worked at Thomson Reuters in a range of senior global and regional roles, from FX and Money Markets to market data and technology. Oliver has also worked in the technology and shipping industries, and in Corporate Treasury.
Oliver graduated from Cambridge University in 1993 and received an MBA from London Business School in 1998. He was awarded a CBE in 2017 for his work in digital services. He is a non-executive director of Kodak Alaris.
Oliver is leaving the PPF on the 31st January to take up a new role as the Chief Executive of The Money and Pensions Service (MaPS).
Job Titles:
- Chief Customer Officer
- Executive
- Member of the Executive Committee
Sara oversees our award-winning customer service, including paying members' PPF benefits.
As the leader of our Scheme and Member Services directorate, Sara is responsible for overseeing the assessment and transfer of pension schemes to the PPF, and looking after more than 400,000 PPF and FAS members.
"Having been involved in creating the PPF, and having met members who lost pensions before we existed, I'm exceptionally proud of what we do, and committed to ensuring that we deliver outstanding customer service."
Before being appointed as Chief Customer Officer, Sara was our Director of Strategy and Policy. She had responsibility for developing strategy and policy in relation to all aspects of the PPF, including the levy.
Sara is responsible for overseeing the assessment and transfer of pension schemes to the PPF, the processing of Fraud Compensation Fund claims, and looking after more than 400,000 PPF and FAS members. She was previously PPF's Director of Strategy and Policy, where she had responsibility for developing strategy and policy in relation to all aspects of the PPF, including the levy.
Before joining the PPF as a founding employee in 2005, Sara undertook a number of roles in the DWP, including Private Secretary to a former Pensions Minister, the late Malcolm Wicks and was a pivotal member of the DWP team who designed the PPF.
Sara was awarded an OBE in October 2020 for services to pensioners.
Job Titles:
- Member of the Executive Committee
- Chief Actuary and Interim Chief Financial Officer
Shalin is the Chief Actuary and interim Chief Financial Officer, responsible for the PPF's actuarial financial management.
Shalin Bhagwan joined the Pension Protection Fund in 2023. He is our Chief Actuary and interim Chief Financial Officer.
Shalin brings extensive pensions, insurance and investment experience having worked across the sector for many years. He started his career in South Africa in life insurance pricing and reserving and then transitioned into liability valuations for defined benefit pension funds.
In addition, he brings significant LDI, derivative and credit portfolio management experience and has advised some of the UK's largest pension funds on their LDI strategies both as a consultant with Mercer and portfolio manager with Legal & General Investment Management.
He is a member of the advisory panel at the Financial Reporting Council and is an advisory board member at SG Pensions Enterprise. He recently served as a member of the Institute and Faculty of Actuaries' Finance and Investment Board and as an advisory member for the task force to boost socio-economic diversity at senior levels in both the financial and professional services sectors.
Job Titles:
- Chief Technology Officer
- Member of the Executive Committee
Simon is responsible for overseeing our IT and change strategy, and our facilities management service. He makes sure that we handle data safely and have effective security services, partners and solutions in place.
During his time here he's overseen a major programme that has moved the PPF from being dependent on a single managed service provider, to multiple partners and in-sourced subject matter experts. This is the platform for his digital transformation programme.
Simon has a demonstrable history of delivery transformation, efficiencies and optimisations according to an organisation's needs. He's worked within multiple industries ranging from financial services to real estate.
Simon is a passionate advocate of continuing education, mentoring and developing people. He's a firm believer that people are at the forefront of all success and transformations.
Before joining us, Simon was Group Head of IT at First Quantum Minerals LTD. Prior to this, he held the position of IT Business Director at Savills, and had roles at Norton Rose and the FCA.