The Pension Protection Fund (PPF) has announced that its next chief executive will be Alan Rubenstein.

Although current chief executive Partha Dasgupta does not officially step down until June 2009, Rubenstein will take up the post on 1 April 2009.

Lawrence Churchill, PPF chairman, commented: "I am delighted that we have been able to attract someone of Alan's calibre. He brings to the role a wealth of knowledge and experience of the financial markets and the pensions industry that will help ensure that the PPF continues to deliver financial security in retirement for thousands of pension scheme members across the UK."

Rubenstein joins the PPF from the now bankrupt Lehman Brothers, where he was managing director. There, he was responsible for establishing their Pensions Advisory Group, bringing together Lehman Brothers Equity, Fixed Income and Investment Banking services to pension funds and corporate plan sponsors. He was also vice-chairman of the National Association of Pension Funds (NAPF).

"I am very pleased and honoured to have the opportunity to lead this vitally important organisation," Rubenstein said. "I am confident that with the quality foundations that have already been laid, the PPF is well-equipped to rise to the challenges that lie ahead and deliver on its objectives."

NAPF chief executive, Joanne Segars, said: "We warmly welcome Alan's appointment - he has a wealth of investment and pensions experience, which will be invaluable over the coming months and years. He is well respected amongst the pensions community and has been Chairman of the NAPF's Investment Council. We are looking forward to working with him."

- Pensions Age January 2009

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