Leading our business

Date of appointment: David was appointed to the Board in October 2022.

Background and career: David has extensive Chair and non-executive experience across a range of Financial Services businesses. He has previously chaired Fidelity Investment Services (UK) LTD, served as Senior Independent Director at Royal London Mutual Insurance Society, including as Audit and Risk Chair at a number of businesses.

He currently chairs the Boards at Mizuho PLC, OSB Group PLC. David’s executive career included serving as Global Chief Information Officer at Barclays and Chief Risk Officer at RSA PLC. 

Areas of expertise: David has more than 30 years’ experience operating at Executive and Board level across Banking, Insurance and Asset Management. He has deep functional expertise across Business Transformation, Technology Operations and Risk.

Current and external roles: Chair of Mizuho PLC, Chair of OSB Group PLC, NED and Chair of Risk Committee, Marsh UK.

Date of appointment: Tracy was appointed to the Board as an Executive Director in July 2011 and appointed as Chief Executive Officer in July 2015.

Background and career: Tracy joined PIC as Chief Investment Officer at the company’s inception in 2006, with responsibility for managing PIC’s asset and liability management strategy. 

Areas of expertise: Tracy has 30 years’ experience in insurance and asset management, including a deep knowledge and understanding of the regulatory landscape. Areas of particular interest include: “The Purpose of Finance”, a project seeking to redefine the social contract with financial services; and diversity of thought in financial services.

Current and external roles: Tracy is a member of Wellcome Trust’s Investment Committee; Trustee and Honourable Treasurer of the Elton John AIDS Foundation; a board member of the Association of British Insurers; and an Advisory Council member on the Diversity Project.

Date of appointment: Dom was appointed to the Board as an Executive Director in December 2021.

Background and career: Prior to joining PIC, Dom spent more than 15 years with PwC working with many leading life insurers. Dom led on a number of regulatory projects, most recently related to the introduction of IFRS 17, for which he coordinated PwC’s global response. Dom is a Fellow of the Faculty and Institute of Actuaries. He holds a degree in Mathematics from Warwick University.

Areas of expertise: Dom has significant experience in the life insurance sector and has an in-depth knowledge of insurance financial and capital management, and regulatory affairs. He also has significant experience in finance restructuring projects.

Current and external roles: Dom serves in an advisory capacity to the Financial Reporting Council.

Date of appointment: Jake was appointed to the Board in June 2021.

Background and career: Jake is a Managing Director at HPS Investment Partners. Prior to joining HPS in 2007, he served as a Vice President in General Electric’s Commercial Finance Distressed Debt Group, where he invested in distressed leveraged loans and was involved in numerous workouts on behalf of GE Capital. In 2000, Jake founded CampInteractive, a Bronx-based non-profit, where he served as Executive Director for four years. Jake holds a BA from Washington & Lee University and an MBA from Columbia Business School.

Areas of expertise: Jake has over 20 years’ experience in the financial services industry, in particular in investment management with an in-depth focus on credit.

Current and external roles: Jake is a Managing Director at HPS Investment Partners and represents HPS as a board member of Acra Lending Holdings, Spectrum Automotive Holdings, and Canaccord Genuity Wealth Management UK.

Date of appointment: Sally was appointed to the Board in January 2021.

Background and career: Sally’s previous roles include Chief Executive Officer of BP Pension Fund, where she had responsibility for the strategic, regulatory and operational matters of the £19 billion UK pension fund. Sally spent seven years in this executive role and stepped down in 2014. She has extensive investment consulting experience and has also served as a Trustee Director of Lloyds Banking Group Pension Trustee Limited, where she stepped down in 2020, and has also held Ministerial appointments for the Nuclear Liabilities Fund and NEST Corporation. Sally is a Fellow of the Institute of Actuaries and in 2020 she received the Award of Honour from the Worshipful Company of Actuaries.

Areas of expertise: Sally is an actuary and has over 30 years’ experience in the UK pensions industry gained from executive and non-executive roles.

Current and external roles: Sally is Chair of Local Pensions Partnership Investments Limited and Impax Asset Management plc as well as a Non-Executive Director of Local Pensions Partnership Limited, Royal London Mutual Insurance Society Ltd and Royal & Sun Alliance Insurance. Sally is an Honorary Group Captain in 601 Squadron of the Royal Auxiliary Air Force.

Date of appointment: Judith was appointed to the Board in August 2019.

Background and career: Most of Judith’s corporate career was spent at Morgan Stanley in operational, financial and strategic management roles across both the Institutional Securities and Investment Management divisions. In 2009, she was appointed a Director and Chief Administrative Officer of MSIM Ltd, where she oversaw a period of significant restructuring and change. In 2013, she additionally became Chief Executive Officer of MSIM’s international cross-border fund management company. From 2015 Judith moved to focus on her non-executive career. Judith is an alumnus of Price Waterhouse (Fellow ICAEW) and INSEAD (Corporate Governance Certificate IDP-C).

Areas of expertise: Judith has over 25 years’ experience in financial services gained from both executive and non-executive roles, in particular in investment management. She has an in-depth understanding of the regulatory environment and has helped guide companies through business restructuring and change programmes.

Current and external roles: Judith is a Non-Executive Director and Audit Committee Chair of Invesco UK and Senior Independent Director and Audit Committee Chair of ICBC Standard Bank plc. She is also Non-Executive Director and Chair of the Remuneration Committee of Flood Re and a Senior Independent Council Member at the University of Surrey.

Date of appointment: Tim was appointed to the Board in August 2020.

Background and career: Tim is a Partner at CVC Capital Partners, based in London, focused on the Strategic Opportunities investment platform. Prior to joining CVC in 2005, he worked for Bain & Co. Tim holds a degree in Social and Political Sciences and Management Studies from the University of Cambridge.

Areas of expertise: Tim has over 15 years’ experience in the investment industry as well as experience as a director of both regulated and unregulated companies.

Current and external roles: Tim represents CVC and currently sits on the boards of entities of the following groups: Asplundh Tree Expert LLC, the RAC Group and Riverstone International. He also acts as a Trustee of United World Schools.

Date of appointment: Julia was appointed to the Board in October 2021.

Background and career: Julia has over 25 years of broad-based financial services experience in London. She was a Managing Director at Barclays Investment Bank from 2010 to 2018 in various senior front-office positions including as Chief Operating Officer of Global Markets, and was also Chair of the Barclays Women’s Initiative Network. Prior to that, she was a Managing Director and the Global Head of Prime Services Risk at Credit Suisse for 11 years, where she was also Chair of the Equities Diversity Advisory Council. Julia started her Markets career at Nomura International as a risk manager. A Singaporean, she came to London in 1987 for her BSc at the LSE, followed by five years with PwC in corporate tax, qualifying as a chartered accountant, before obtaining her MSc in Mathematical Trading and Finance. She is a member of ICAEW and has a Certificate in Company Direction from the Institute of Directors.

Areas of expertise: Julia has significant senior front-office experience with specific expertise in Markets (Sales & Trading), Hedge Funds, Structured Products, Risk Management and Internal Controls, especially at times of business transformations and change.

Current and external roles: Julia is an independent Non-Executive Director of Schroder AsiaPacific Fund plc, a director of the charity Children of the Mekong and is board advisor of the Handbag Clinic.

Date of appointment: Stuart was appointed to the Board in January 2019.

Background and career: Stuart has previously worked at the Bank of England before moving to become Head of UK Banks Regulation and then Head of Major Insurance Groups Regulation at the Financial Services Authority ('FSA') (predecessor of the Financial Conduct Authority). After his time at the FSA, Stuart became Managing Director at advisory firm Promontory Financial Group and after that Group Compliance Director at Aviva plc.

Areas of expertise: Stuart has over 25 years’ experience working in the UK financial regulation industry as both regulator and at regulated firms, and led the enhanced supervision approach of major insurance groups following the financial crisis in 2007.

Current and external roles: Stuart remains an external advisor for financial services firms. He is also a trustee to Emerge Advocacy, a charity which works with young people with mental health difficulties and provides mentoring to them.

Date of appointment: Arno was appointed to the Board as an independent Non-Executive Director in July 2016.

Background and career: Arno’s previous roles include Managing Director of BlackRock’s £250 billion UK institutional business, Head of Henderson Global Investors global distribution and Head of JPMorgan’s Asset Management UK institutional business. Arno was a JPMorgan Managing Director, responsible for institutional and defined contribution business, and he was the Chief Executive Officer of the JPMorgan Life business. He served as a director of many investment funds and was a former Board member of the Pensions and Lifetime Savings Association (“PLSA”). Arno is a Fellow of the Institute of Actuaries and holds a PhD from Southampton University.

Areas of expertise: Arno has been involved in investment management since 1989, including seven years as Head of Investments of an insurance company. Arno was a member of the Council and Finance & Investment Board of the Actuarial Profession and has been actively involved in industry matters as a member of the PLSA Defined Benefit Council.

Current and external roles: Arno is the founder of Perspective Investments, an investment management firm, and is also a Non-Executive Director of Wake Trade Technologies.

Date of appointment: Josua was appointed to the Board as a Non-Executive Director in December 2015.

Background and career: Josua qualified as a chartered accountant in South Africa in 1984, having worked at a predecessor firm to PwC. He became Chief Executive Officer of VenFin Limited in 2000 until 2006 when he held the position of Deputy Chairman. VenFin Limited was acquired by Remgro Limited and Josua now serves as a director of Remgro. He holds BCom LLB from the University of Stellenbosch and a CTA from the University of Cape Town, and holds the professional qualification CA(SA).

Areas of expertise: Josua has over 30 years’ experience in corporate finance and has had executive experience at companies since 1993.

Current and external roles: Josua is Deputy Chairman of Compagnie Financière Richemont S.A. and is a director at Remgro Limited and Reinet Investments S.C.A.

Date of appointment: Roger was appointed to the PIC Board as an independent Non-Executive Director in April 2015 and to the PICG Board as Director in April 2017.

Background and career: Roger spent much of his career in PwC, where he was an audit partner in London and Zurich. Roger was Chair of PwC’s Global Audit Policy Board and its global Corporate Reporting Task Force. He served on the board of Old Mutual plc, where he was also Chair of the Audit Committee. He was Chair of the Accounting Standards Board and a director of the Financial Reporting Council. He also served on the board of the European Financial Reporting Advisory Group and was interim President. He is a Fellow of the ICAEW and Honorary Fellow of the Chartered Institute of Internal Auditors.

Areas of expertise: Roger’s career at PwC and his subsequent non-executive roles have given him substantial skills and experience in accounting, risk management, compliance and audit in the financial services industry.

Date of appointment: Andy was appointed to the Board in September 2023.

Background and career: Andy is a former Chief Executive Officer of the Phoenix Group Life companies (including Phoenix Life and Standard Life). Previously he chaired the Phoenix Assurance General Insurance Board, sat as a Non-Executive Director on the Board of Sun Life Limited, acquired by Phoenix in 2021, and Opal Re Bermuda.

Areas of expertise: Andy has a long and distinguished career in the insurance sector bringing twenty years’ of experience, which has given him a deep understanding of finance and risk management. He brings a fresh perspective on the macroeconomic environment and how that impacts investment returns and business performance.

Current and external roles: He is currently a Non-Executive Director of Ascot Underwriting Limited, and in his other Non-Executive commitments, at Midlands Air Ambulance and Rugby for Heroes, reflect his strong social values.

Date of appointment: Jérôme was appointed to the Board as a Non-Executive Director in November 2018.

Background and career: Jérôme holds an MBA from the Wharton School and a BA from ESSEC. He was previously an Associate at McKinsey & Company and Vice President of Morgan Stanley Capital Partners in London. Jérôme was a Partner at private equity firm Englefield Capital LLP. He has been an employee of Abu Dhabi Investment Authority (“ADIA”) since 2012. He became Head of Financial Services in the Private Equity Department in 2017 and is now Head of EMEA, Private Equities.

Areas of expertise: Jérôme has spent 25 years working in the financial services industry with a strong background in asset management.

Current and external roles: Jérôme is currently Head of EMEA, Private Equities at ADIA and represents ADIA on the boards of various entities ADIA has invested in.

Date of appointment: Peter was appointed to the Board as a Non-Executive Director in May 2017.

Background and career: Peter is a Managing Partner and Head of CVC’s Financial Services Team and is based in London. Prior to joining CVC in 2007, he worked for Advent International since 2002. Peter has had previous roles at Goldman Sachs in the Investment Banking division. Peter holds an MA from the University of Cambridge and an MBA from INSEAD.

Areas of expertise: Peter has over 20 years’ experience in the banking, investment and insurance industries, as well as experience as a director of both private and listed companies.

Current and external roles: Peter represents CVC on the boards of various entities CVC has invested in including: Newday, Domestic & General, Paysafe, TMF and Riverstone International.

Date of appointment: Wilhelm was appointed as a Non-Executive Director to the PIC Board in May 2015 and to the PICG Board in October 2017.

Background and career: Wilhelm is the Chief Executive of Reinet Investments Manager S.A. and Reinet Fund Manager S.A. Prior to this he was group actuary of the financial services group Metropolitan Holdings from 2001 and headed up its corporate business from 2006. In 2008 he was appointed Chief Executive of Metropolitan Holdings. Following the listing of MMI Holdings in 2010, resulting from the merger between Metropolitan and Momentum, he was appointed Deputy Group Chief Executive. Wilhelm holds a BCom degree from the University of Stellenbosch and is a Fellow of the Institute and Faculty of Actuaries (UK) and Fellow of the Actuarial Society of South Africa.

Areas of expertise: Wilhelm has a strong background in the financial services sector in South Africa and overseas along with experience in investment strategy.

Current and external roles: Wilhelm serves on the boards of directors of various Reinet and investee entities.