Pension Insurance Corporation appoints Tracy Blackwell as Deputy CEO

PIC, a specialist insurer of defined benefit pension funds, today announces that Tracy Blackwell has been appointed Deputy Chief Executive Officer. Tracy will succeed John Coomber as CEO of PIC when he retires on 30 June 2015. John will remain a member of PIC’s Board.

Tracy has been with PIC since the company was founded in 2006. As the Chief Investment Officer she has had overall responsibility for managing PIC’s assets under management as the portfolio has grown to almost £14 billion. Tracy has served as a Board Director since 2011.

A search for a new Chief Investment Officer to replace Tracy is underway.

Sir Mark Weinberg, Chairman of the Board at PIC, said: “One of the things we pride ourselves on at PIC is the strength and cohesion of our management team and I am delighted that we have found a successor for John Coomber from that team. With a strong track record at PIC, overseeing our asset strategy as the portfolio has grown to almost £14 billion, Tracy has been instrumental in developing our business and our values and is the right person to lead PIC on to further growth and success.”

John Coomber, PIC’s Chief Executive Officer, said: “Having worked with Tracy over many years as our business has developed, I know that her appointment is great news for our customers and for our company. Our culture, which defines how we treat our customers and how we manage risk, is very important to us and Tracy is the leader PIC requires to build upon this strength and take the company forward.”

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