Sanford Rich was named chief of the PBGC's office of negotiations and restructuring, which works to maintain defined benefit plans at companies facing or going through bankruptcy.
Mr. Rich replaces Terrence Deneen, who retired in January 2011. Senior staff at the office had been handling Mr. Deneen's duties.
“My job among other things is to be more proactive. We're looking for more creative ways to get companies to preserve their pension plans,” Mr. Rich said in an interview.
Mr. Rich will oversee the office, which had been know as the chief insurance program but was renamed by the Pension Benefit Guaranty Corp. earlier this year. He also will oversee the agency's chief counsel's office and the multiemployer and standard termination programs.
Mr. Rich was managing director of Whitemarsh Capital, a restructuring and financial advisory firm.