Leading our business

Date of appointment: David was appointed to the Board in October 2022 and became Chair in December 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) Limited, served as Senior Independent Director at Royal London Mutual Insurance Society, Chair at Mizuho PLC and as Audit and Risk Chair at a number of businesses. He is currently the Chair of One Savings Bank Group PLC and Chair of Risk Committee at Marsh UK. 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 external roles: Chair of OSB Group PLC and 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 is Chief Executive Officer and a Director of Pension Insurance Corporation plc, as well as CEO and a Director of PIC’s parent company, Pension Insurance Corporation Group Limited. Tracy is responsible for leading PIC’s management team in carrying out the company’s strategy. Tracy was one of PIC’s founders, joining in 2006. Until she became CEO in 2015, Tracy was PIC’s Chief Investment Officer and was responsible for building up the company’s asset management function. 

Areas of expertise: Areas of particular interest include the social value created through the housing developments and infrastructure projects funded by institutional investors, and cognitive diversity in financial services. 

Current external roles: Tracy is a member of Wellcome Trust’s Investment Committee; Chair of the Purposeful Finance Commission; a member of the British Infrastructure Taskforce; a Member of Council, Radley College; a Board member of Netwealth; and a Board member of the Association of British Insurers.

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

Background and career: Dom is the Chief Financial Officer and a Director of Pension Insurance Corporation plc. He joined PIC as Chief Actuary in 2017 and was appointed as Chief Financial Officer in December 2021. Prior to his tenure at PIC, Dom spent more than 15 years at PwC, where he worked with many leading life insurers and led several regulatory projects, including the global coordination of PwC’s response to the introduction of IFRS 17. Dom is a Fellow of the Institute and Faculty of Actuaries and holds a degree in Mathematics from the University of Warwick.

Areas of expertise: Dom has over 25 years’ experience in the life insurance sector, with in depth knowledge of insurance financial and capital management, and regulatory affairs. He also has significant experience in finance restructuring projects, risk management, and the implementation of new financial reporting standards. 

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 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, Canaccord Genuity Wealth Management UK and Nucleus Financial Platforms Limited.

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

Background and career: Sally has a portfolio of non-executive and advisory roles. Her previous executive roles include Chief Executive Officer of BP Pension Fund and extensive pensions and investment consulting experience. She has served as a Trustee Director of Lloyds Banking Group Pension Trustee Limited, where she stepped down in 2020, and as Chair of Local Pensions Partnership Investments Limited and Non-Executive Director of Local Pensions Partnership Limited, where she stepped down in 2023. Sally was Chair and Non-Executive Director of Impax Asset Management Group plc until July 2024. Sally has held Ministerial appointments for the Nuclear Liabilities Fund and NEST Corporation. Sally is a Fellow of the Institute and Faculty of Actuaries and in 2020 she received the Award of Honour from the Worshipful Company of Actuaries. She was winner of the 2023 Non-Executive Director Awards for the FTSE AIM category. 

Areas of expertise: Sally is an actuary and has nearly 40 years’ experience in the UK pensions, insurance and investment industry gained from executive and non-executive roles.

Current external roles: Sally is Chair of home care provider BelleVie, Chair of Brunel Pension Partnership (Deputy Chair from May 2024), Chair of Development Bank of Wales plc and Non-Executive Director of Intact Insurance UK Limited. 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. Since 2015, Judith has focused on her non-executive career. Judith is an alumnus of PwC, (Fellow of ICAEW) and INSEAD (Corporate Governance Certificate). 

Areas of expertise: Judith has over 30 years’ experience in financial services from executive and non-executive roles. Judith was Senior Independent Director and Chair of the Remuneration Committee of Flood Re Limited until January 2024 and a Non-Executive Director of Flood Re Limited until August 2024. Judith was also Audit Committee Chair of Invesco UK Limited. 

Current external roles: Judith is a Non-Executive Director of Invesco Asset Management Ltd and Senior Independent Director and Audit Committee Chair of ICBC Standard Bank plc. She is also Audit Committee Chair at TSB Banking Group plc and Non-Executive Director at Merrill Lynch International.

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 nearly 20 years’ experience in the investment industry as well as experience as a director of both regulated and unregulated companies.

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

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

Background and career: Julia has broad-based financial services experience in London. She was a Managing Director at Barclays Investment Bank 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. She is a fellow of the ICAEW (alumnus PwC) and has a Certificate in Company Direction from the Institute of Directors. She holds a BSc from the London School of Economics and Political Science and an MSc from Bayes Business School.

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 external roles: Julia is a Non-Executive Director and Audit and Risk Committee Chair of Schroder AsiaPacific Fund plc, Non-Executive Director of The Mercantile Investment Trust plc and Chair of the Audit Committee for ICBC Standard Bank plc. She is also a Director of the charity Children of the Mekong.

Date of appointment: Tracey was appointed to the Board in January 2025.

Background and career: Tracey Graham is an experienced senior non-executive director having served on several listed companies, private and mutual boards across a range of sectors. She has extensive experience as a Senior Independent Director and Remuneration Committee Chair. Her final executive role was as Chief Executive Officer of Talaris Limited, an international cash management business where she led an MBO backed by the Carlyle Group. Before that she held a number of senior roles in De La Rue plc, HSBC and at AXA Insurance. Tracey served as Senior Independent Director on the Boards of DiscoverIE plc and Ibstock plc. She also served as Non-Executive Director and Remuneration Committee chair on the Boards of Royal London Mutual Insurance Society and Dialight plc. Tracey also chaired the LINK Consumer Council and was a Non- Executive Director of the LINK Scheme until December 2024.

Areas of expertise: Tracey brings significant commercial and operational experience as a former CEO, together with extensive Board experience having served on Boards across a range of sectors including financial services/regulated businesses. 

Current external roles: Tracey is a Senior Independent Director of Nationwide Building Society and Non- Executive Director and Chair Remuneration Committee of Close Brothers plc. She is also a Non-Executive Director of Virgin Money UK PLC and Clydesdale Bank plc.

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 external roles: He is a Commissioner of the Guernsey Financial Services Commission. Stuart remains an external adviser to financial services firms. He is a trustee to a number of charities working in the areas of education and mental health.

Date of appointment: Josua was appointed to the Board 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 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: Andy was appointed to the PIC Board in September 2023 and subsequently appointed to the PICG Board on 1 January 2024.

Background and career: Andy has worked in the life insurance sector for over 25 years and in the wider insurance market for 35 years. He was Chair of the Phoenix Assurance General Insurance (PAGI) Board and also sat as a NED on the board of Sun Life Limited, Opal Re Bermuda and Standard Life Unit Trust Managers. Andy has held a number of other board roles over the last 20 years as both an executive and non-executive member.

Areas of expertise: Andy is a highly experienced former Chief Executive Officer and Finance Director with a strong commercial outlook and he has experience of growing and acquisitive businesses. He has a deep understanding of finance and risk management and effective operating models in FTSE100 businesses.

Current external roles: Andy is Chair of St James’s Place Wealth Management plc and is also Senior Independent Director and Audit Chair at Ascot Underwriting Limited. Andy cares passionately about giving back to the community and supporting charities and is currently a Director and Trustee of Midlands Air Ambulance and of Rugby for Heroes. 

Date of appointment: Jérôme was appointed to the Board 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, Head of EMEA in 2019 and is now the Global Head of Private Equity. 

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

Current 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: Martin was appointed to the Board in January 2025.

Background and career: Martin has over 30 years' experience in the financial services/insurance sector as a strategy and risk consultant, and actuary. He brings experience from previous roles at Abrdn PLC where he was Chair of the Risk & Capital Committee and a member of the Remuneration Committee, Audit Committee and Nomination and Governance Committee. Martin was Chairman of the Remuneration Committee, and member of the Audit Committee for esure Group PLC. Martin served as Chair of Faraday Underwriting Limited (a subsidiary of Gen Re managing a syndicate at Lloyd’s) and as Chair of AIG Life (a subsidiary of the AIG Group). Previously he was Managing Director, Risk Consulting and Software EMEA at Towers Watson from 2010 until 2013 having spent just under 30 years with the business. 

Areas of expertise: Martin has a strong strategic risk and strategy background and experience as a non-executive director in FTSE100, FTSE250 and other unlisted businesses, including chair roles at subsidiary company level.

Current external roles: Martin is Chairman and joint founder at Greencore Homes Ltd, a net zero carbon and low-energy residential construction business, which has grown through start-up into scale-up. He is also a Non-Executive Director of Gateley (Holdings) plc.

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 external roles: Peter represents CVC and is a member of boards representing the following groups: Newday, Paysafe, TMF and Resurs.

Date of appointment: Wilhelm was appointed to the PIC Board in May 2015 and subsequently appointed 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 external roles: Wilhelm serves on the boards of various Reinet and investee entities.