Defined benefit (DB) consolidator the Pension Superfund has appointed two trustees, and will now start a process to recruit a third independent member.
Richard Wohanka has been appointed as chairman of the trustee board, alongside 2020 Trustees, a professional trustee firm, represented by Antony Miller.
Currently chairman of the Nuclear Liabilities Fund and formerly of Old Mutual Global Investors (now Merian Global Investors), Mr Wohanka holds a range of non-executive director roles, including at Embark Group, of which he is the largest shareholder.
Mr Wohanka said: "I’m delighted to be asked to take this role and be part of an organisation which aims to improve members’ retirement benefits as well as protect them.
"Our approach will be to manage pensioners’ funds in a way to enrich and secure their retirement and I am looking forward to helping realise these objectives."
The Pension Superfund was launched in March, when plans were announced to create a vehicle to accept bulk transfers from DB plans and consolidate them into one occupational pension scheme.
At the time, Alan Rubenstein, who was head of the Pension Protection Fund (PPF) until January, teamed up with city financier Edi Truell's Disruptive Capital and private equity investor Warburg Pincus to launch the new scheme, which had already lined up an initial £500m of capital.
But earlier this month it was announced that Mr Rubenstein was leaving the consolidator, and Warburg Pincus would also not continue to invest in the business at this stage.
Mr Wohanka added that Mr Miller, the other appointed trustee, would bring with him "significant experience" in the pensions field, saying he had spent much of his working life finding solutions for pension schemes.
Mr Wohanka and Mr Miller will now commence the recruitment process for a third independent member of the board.
FTAdviser reported in September that the Pension Superfund was in "well-developed conversations" with a dozen pension funds about possible transfers.
maria.espadinha@ft.com
