Regulation

U.K.’s Pension Regulator appoints executive director for regulatory policy

David Fairs was named executive director for regulatory policy, analysis and advice at The Pensions Regulator, said a spokesman.

Mr. Fairs replaces Anthony Raymond, who took on the role on an interim basis following the departure last summer of Andrew Warwick-Thompson, who became the first CEO of the £40 billion ($55.2 billion) LGPS Central, Wolverhampton, England. Mr. Raymond will return to his position of general counsel and director of legal services at the regulator.

Mr. Fairs will join in July and be responsible for TPR's policy work. This includes developing supporting material for the implementation of legislation relating to occupational plans, Brexit, the regulator's 21st century trustee initiative and responding to other key developments in the retirement industry. He will lead a team of specialist advisers including lawyers, actuaries, business analysts and investment consultants; and risk, research and analysis teams. He was appointed by the Department for Work and Pensions "following an open and robust competition," said a news release by TPR.

"I am delighted (Mr.) Fairs has been appointed to what is a pivotal role at TPR," said Chairman Mark Boyle in the release. "The rapid pace of change in the pensions sector continues and (his) strong background and deep understanding of pensions legislation will ensure we remain an active influencer and pragmatic implementer of government pensions policy, in line with our mandate to protect workplace pensions."

Mr. Fairs is a lead partner within KPMG's people practice – people powered performance – which advises U.K. and global clients on workforce and human resources. Spokesmen could not immediately be reached for comment.