29 January 2015
Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension funds, has promoted chief investment officer (CIO) Tracy Blackwell to deputy CEO prior to succeeding CEO John Coomber when he retires on 30 June.
As CIO, Blackwell has had overall responsibility for PIC's £14bn of assets under management. She has been with PIC since the company was founded in 2006 and has served as a board director since 2011. PIC has not named her replacement.
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 £14bn, 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."