Regulator appoints Stephen Soper as interim chief executive

Ref: PN13-30
Thursday 1 August 2013

The Pensions Regulator has today announced the appointment of Stephen Soper as its interim chief executive, with effect from 1 August.

Mr Soper, who is currently executive director of defined benefit regulation, will take charge of the regulator until a permanent replacement is found for Bill Galvin, who left his position as chief executive at the end of June.

The regulator’s chairman Michael O’Higgins said:

“The role of chief executive requires a wide range of regulatory, industry and policy skills. While the regulator searches for a new chief executive, the Board has decided to appoint Stephen Soper as interim chief executive.

“His appointment will ensure we maintain effective leadership and clear accountability while we continue the recruitment process.

“Stephen has substantial experience of senior roles in both the financial services industry and the regulator. I know he will do an excellent job and is supported by a strong and dedicated team.”

Stephen Soper said:

“I look forward to working with the pensions industry, Government, and my colleagues at The Pensions Regulator, to ensure that pension schemes are well run, the interests of members and the Pension Protection Fund (PPF) are protected, and that the roll-out of automatic enrolment continues to progress smoothly.”

Geoff Cruickshank, a senior member of the defined benefit (DB) regulation management team, has been appointed as interim executive director for DB regulation while the regulator searches for a new chief executive.

Editor’s notes

  1. Stephen Soper joined the regulator following over 23 years’ experience working in multinational financial services organisations, focusing on banking and insurance. A chartered banker (ACIB) Stephen began his career at RBS within the international banking division and subsequently worked at the Allied Dunbar Group, Zurich Financial Services, Eagle Star and Aon. He has held various executive positions including commercial bank treasurer, board director, chief operating officer of a UK Bank, restructuring director and group change director.
  2. The Pensions Regulator is the regulator of work-based pension schemes in the UK. We have objectives to: protect members’ benefits; reduce the risk of calls on the PPF; to promote, and to improve understanding of, the good administration of work-based pension schemes; and to maximise employer compliance with automatic enrolment duties.

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