13 May 2004 - Lawrence Churchill announced as first Pension Protection Fund Chairman
The first Chair of the Pension Protection Fund (PPF) has today been confirmed as Lawrence Churchill, currently Chief Executive of Zurich Financial Services, Life Businesses.
The appointment was announced by the Secretary of State for Work and Pensions, Andrew Smith, who was addressing the National Association of Pension Funds Annual Conference in Glasgow
Andrew Smith said:
“I am absolutely delighted that such an important and prominent figure as Lawrence Churchill is taking on this vitally important role. He has a track record of success and commands respect across the financial sector.
“For the PPF to succeed it is crucial that we have a Chair who is able to meet the challenge of establishing this unique and important body in its formative years. In Lawrence Churchill we have a man with the undoubted ability to deliver exactly that.”
Mr Churchill was most recently the Chief Executive of Zurich Financial Services UK as well as holding the same position for Nat West and creating Nat West Life. He will take up his position with the PPF in July subject to Parliamentary approval.
Mr Churchill said:
“I am delighted and excited to be taking up such an important post. To be the first Chair of the PPF is a challenge that I am looking forward to with relish. Having spent many years working in the financial sector I appreciate the significance of the fund and the impact it can make.”
Notes for editors
- Lawrence Churchill has been Chief Executive of Zurich Financial Services, UK Irish and International Life since December 2002. Prior to this appointment he was Chairman and Managing Director of UNUM Ltd, the UK arm of UNUM Provident Inc, the world’s largest disability insurer. During his time at UNUM Lawrence became very interested in disability and rehabilitation.
- Between 1991 and 1998 Lawrence was working for NatWest Bank. He joined initially to set up NatWest Life Assurance Ltd and his responsibilities were expanded in 1995 by the addition of Natwest’s Regulated Sales Force and its Stocktaking and Portfolio Management business. Lawrence has also worked at Allied Dunbar Assurance Plc where he was Group Main Board Director (1985 – 1991) and Proctor and Gamble where he was a Systems Analyst.
- Lawrence was educated at St. John’s College, Oxford. He is 57 years old and is married with four children.
- The Pension Protection Fund was announced as part of the Pensions Bill which was published on 10th February 2004.
Press office enquiries contact Stewart Todd: 020 7238 0643
Out of hours: 07659 108 883
Public enquiries: 020 7712 2171
Website: www.dwp.gov.uk