The £29.6bn Pension Protection Fund (PPF) has appointed Purna Bhudia as head of credit.
The appointment comes after the PPF took the decision to insource part of its investment management activities last year.
Bhudia has joined the team to support the PPF's ambitions to develop its sterling-based investment grade credit capabilities and is responsible for delivering both public and private market strategies; as well as designing and delivering the fund's credit target operating model.
She has 15 years of experience within the credit markets and her previous roles have included being a senior credit fund manager at Friends Life Asset Management / Aviva Investors and a senior credit portfolio manager at Liverpool Victoria Asset Management.
PPF chief investment officer Barry Kenneth commented: "Purna brings a wealth of experience and expertise, and will play a vital role as we continue to grow and evolve our investment function."
In this week's Pensions Buzz survey, we want to know whether or not you agree with Lord Myners' opinion that asset owners, such as pension funds, are substantially to blame for short-termism in business.
A typical defined benefit (DB) scheme was able to meet 92.9% of its accrued pension rights as of 30 September, according to Legal & General Investment Management (LGIM).
The combined funding level decreased by just over four percentage points by the end of last month to 93.6%, according to the Pension Protection Fund's (PPF) latest update.