PPF chief executive resigns

Dasgupta – who joined the PPF in January 2005 – will stand down in June 2009.

He said: "This has been the most enjoyable, challenging and rewarding job of my career and, when I step down in June next year, I will look back with enormous pride and satisfaction at what the PPF has achieved in such a short space of time.

"It has been a great privilege to lead this organisation with its exceptionally talented and committed people. It has also been a privilege to have helped shape the UK's pension protection regime that is now delivering real security in retirement for 12 million pension scheme members."

Dasgupta joined the PPF as the director of investment and finance and was appointed chief executive in June 2006.

He added: "The PPF has been an excellent platform for me to test myself. I feel that after four and a half years the time is right for me to broaden my skills, knowledge and experience through a new challenge."

PPF chairman Lawrence Churchill said Dasgupta had made an outstanding contribution to establishing and developing the PPF.

"The board, his colleagues - and me, personally - are sorry that Partha has decided to leave but totally understand and respect his decision. It has been a great pleasure to work with such a talented individual whose grasp of a wide variety of complex issues has been second to none.

"I look forward to continuing to work closely with Partha who, I'm sure, will make a great contribution to whatever role he chooses next."