Oliver Morley was named CEO at the Pension Protection Fund, London.
Mr. Morley joins the fund March 19, replacing Alan Rubenstein.
Mr. Rubenstein informed the board of the £29.6 billion ($39.6 billion) PPF in July that he would step down in early 2018. A spokeswoman said Mr. Rubenstein will leave in January.
Mr. Morley "brings to the role proven leadership skills, recognized success in engaging with stakeholders and a strong focus on the needs of customers," said Arnold Wagner, chairman at the PPF, in a news release. "We have a proven team at the PPF and his leadership will ensure that the PPF enters the next phase of its development well placed to continue to protect the millions of people in the U.K. who belong to defined benefit pension schemes."
The PPF is the lifeboat fund for DB funds of insolvent companies.
Mr. Morley will join from the U.K.'s Driver and Vehicle Licensing Agency, where he has been CEO since 2013.
