Bradley D. Belt was named executive director of the PBGC by Labor...

Bradley D. Belt was named executive director of the PBGC by Labor Secretary Elaine Chao, who is chairman of the PBGC. Mr. Belt, who was president of the Washington Capital Group, replaces Steven A. Kandarian, who resigned earlier this year. Mr. Belt takes the helm of the PBGC at a time when the pension insurance agency is running a deficit of more than $11 billion.