UK - F&C CFO Ian Paterson Brown will leave the company "by mutual agreement" after the Annual General Meeting in May, becoming the second to leave as part of CEO Alain Grisay's management reshuffle.
In November last year, Tony Broccardo’s position as CIO was terminated and replaced with a new role of head of investments.
An F&C spokesperson confirmed Brown was also leaving as part of the restructuring enacted by Grisay. “As you would expect whenever you have a new CEO, they would want to put their own team in place.”
When asked if there were any further management departures on the cards, the spokesperson said: “If there are any further announcements, we will make them at the time.”
The Nomination Committee and the Board have now commenced the task of identifying a successor.”
By Damian Clarkson
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers