Jon is the Chairman of Pension Insurance Corporation.
Jon has more than 20 years’ experience in corporate finance, including 16 years in the Investment Banking Division at Goldman Sachs. He was one of the first European Partners, joining the company in 1986, helping to develop the Goldman business in Europe. Whilst at Goldman he gained extensive experience advising large European corporates, including financial institutions, on capital structure, capital raising and mergers and acquisitions. A key part of his role was advising various European governments on privatisations and restructuring of financial institutions. His final three years at Goldman were spent as Chairman of the company’s Australia business.
From 2007 until May 2016, Jon was Chairman of Man Group plc, the FTSE250 provider of alternative investment products with over $70 billion under management. He was previously Deputy Chairman of Ocean Rig plc and Honorary Treasurer of the NSPCC. He is a member of the Institute of Chartered Accountants of England and Wales.
Tracy BlackwellChief Executive Officer
Tracy is Chief Executive Officer and a Director of Pension Insurance Corporation plc (“PIC”). Tracy is also CEO and a Director of PIC’s parent company, Pension Insurance Corporation Group.
PIC’s purpose is to pay the pensions of its current and future policyholders. The company’s £50 billion portfolio is invested in secure long-term assets, including social housing, renewable energy and heavy infrastructure in line with that purpose, helping create jobs, ease the shift to a green economy, and ensure intergenerational balance. PIC has an excellent reputation for customer service and holds the Institute of Customer Service’s ServiceMark with Distinction for policyholder care. Tracy was one of PIC’s founders, and has been CEO since 2015, before which she was Chief Investment Officer.
Tracy is a member of Wellcome Trust’s Investment Committee; an Advisory Council member on the Diversity Project; and Trustee and Honourable Treasurer of the Elton John Aids Foundation. Areas of particular interest include: “The Purpose of Finance”, a project seeking to redefine the social contract with financial services, and diversity in financial services.
Rob SewellDirector & Chief Financial Officer
Rob is a Director and Chief Financial Officer of Pension Insurance Corporation. He was previously Chief Executive of National Westminster Life Assurance, and was the Finance Director for Legal & General Group's UK businesses. Rob is a Fellow of the Institute of Chartered Accountants in England & Wales.
Judith EdenNon-Executive Director
Judith is an independent Non-Executive Director of Pension Insurance Corporation. She holds similar roles at Invesco UK and Flood Re and is Audit Chair of ICBC Standard Bank plc.
Judith was previously a Managing Director with Morgan Stanley and adds over 25 years of broad-based financial services experience to PIC's senior team.
Tim GallicoNon-Executive Director
Tim was appointed to the Board as a Non-Executive Director in August 2020.
Tim is Senior Managing Director at CVC Capital Partners, based in London and 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.
Tim has over 15 years’ experience in the investment industry as well as experience as a director of both regulated and unregulated companies.
Tim represents CVC and currently sits on the board of Asplundh Tree Expert LLC, and is director of several entities of the RAC Group. He also acts as a Trustee of the London Youth Games Foundation.
Stuart KingNon-Executive Director
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. 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 (predecessor to Financial Conduct Authority).
Arno KittsNon-Executive Director
Arno is a Non-Executive Director and Chair of PIC's Investment and Origination Committee.
Arno’s previous roles include Managing Director of Blackrock’s £250 billion UK institutional business, Head of the Henderson Global Investors global distribution and Head of JPMorgan’s Asset Management UK institutional business. He is a former Board member of the PLSA. He is a Fellow of the Institute of Actuaries and holds a PhD from Southampton University.
Josua MalherbeNon-Executive Director
Josua has over 30 years’ experience in corporate finance and has had executive experience at companies since 1993. Josua qualified as a chartered accountant in South Africa in 1984 having worked at a predecessor firm to PricewaterhouseCoopers. Thereafter he joined Rand Merchant Bank’s corporate finance team for 5 years.
Josua is Deputy Chairman of Remgro Limited and Compagnie Financière Richemont SA. and is a Non-Executive Director at Reinet Investments SCA.
Roger MarshallNon-Executive Director
Roger is a Non-Executive Director of Pension Insurance Corporation; chairman of its Audit Committee and member of its Risk Committee. Roger was formerly a Director of the Financial Reporting Council, and Chair of the Corporate Reporting Council, and also a former Director of Old Mutual plc.
Roger is a Fellow of the Institute of Chartered Accountants in England and Wales. He spent most of his executive career as a partner in Price Waterhouse in London and Zurich, specialising more recently in large financial services audits in both banking and insurance.
Eloy MichotteNon-Executive Director
Eloy is a consultant to Reinet and a Director of Reinet Investments Manager SA (Luxembourg).
Eloy has had an extensive career in international business and finance, having worked with Ford, McKinsey & Co and Bankers Trust Company prior to joining Richemont at the time of its formation in 1988.
He graduated in engineering and applied mathematics from the University of Louvain in Belgium and holds an MBA from the University of Chicago.
Jerome Mourgue d'AlgueNon-Executive Director
Jerome joined PIC as a Non-Executive Director in November 2018. He is Head of EMEA in the Private Equities Department at Abu Dhabi Investment Authority (ADIA) and specialises in investments in the financial service sectors. Prior to joining ADIA in 2012, he was a partner at Englefield Capital, a London-based private equity firm, for nine years.
Peter RutlandNon-Executive Director
Peter is Co-Head of CVC's Financial Services Group and is based in London. He also serves on the board of Domestic & General Group, Newday and dxc.technology. Prior to joining CVC, he worked for Advent International since 2002. Prior to working at Advent, Peter worked for Goldman Sachs in the Investment Banking Division. Peter holds an MA Degree from the University of Cambridge and an MBA from INSEAD.
Steve SarjantNon-Executive Director
Steve is a Non-Executive Director of Pension Insurance Corporation; Chairman of its Risk Committee and a member of the Audit Committee. He is also a Non-Executive Director of Vitality Health and Vitality Life, and an Independent Member of the With Profits Committee of Liverpool Victoria Friendly Society.
Steve is a Fellow of the Institute and Faculty of Actuaries. He has over 30 years' experience in the financial services industry including 20 years spent as an actuarial consultant at Towers Watson (previously Watson Wyatt), where he was a Managing Director in their Risk and Financial Services segment and Global Leader, Mergers and Acquisitions.
Mark StephenNon-Executive Director
Mark was previously a partner at PricewaterhouseCoopers LLP, where he was UK insurance industry leader.
He has over 30 years experience of advising, and working with, insurance company Boards on many aspects of business, including how they adapt to the changing regulatory and business landscape. He is a chartered accountant and is also a director of TransRe London Limited.
Wilhelm van ZylNon-Executive Director
Wilhelm is the chief executive of Reinet Investments Manager S.A. and Reinet Fund Manager S.A.. Prior to this Wilhelm was a director and deputy group chief executive of MMI Holdings. He also serves on the boards of various entities within the Reinet group of companies. He is a Fellow of the Institute and Faculty of Actuaries and also a Fellow of the Actuarial Society of South Africa.