Dermot Courtier has been appointed by Legal & General as chairman of its master trust and Independent Governance Committee (IGC).
Courtier is head of group pensions at DIY retail group Kingfisher as well as secretary to the group’s trustee company. He will continue in these roles alongside his new responsibilities.
He has spent 10 years overseeing Kingfisher’s £3.5bn defined benefit (DB) scheme’s de-risking programme and the £230m defined contribution (DC) scheme’s benefit structure and investments.
Prior to this, he held senior pension roles at Hachette Livre Group, Towers Perrin HR Services (now Willis Towers Watson) and Royal Mail Group.
The Legal & General Mastertrust was launched in 2011 and has £2.9bn in assets under management and almost 600,000 members. It is a multi-employer scheme managed by an independent board of trustees that will be chaired by Courtier.
In his role as chairman of the L&G IGC, Courtier (pictured) will oversee the workplace pension schemes operated by L&G, representing £16.8bn, with a remit to act in the interest of members.
Legal & General Investment Management (LGIM) head of DC Emma Douglas said the master trust had reached an exciting point in its development, adding Courtier will play a pivotal role in further success.
“He is a highly respected practitioner and brings many years of experience working with a range of employers in different sectors,” she added. “His innovative flair in the way he thinks about investments and communications will help ensure both our offering and the way we engage continue to meet members’ and employers’ needs.”
Courtier said: “I am very pleased to be joining the Legal & General master trust and IGC as chairman. My work overseeing the impact of pensions freedom and choice regulations means I can bring a valuable perspective of what employers require from their DC solutions. I look forward to helping to bring the master trust business to the next stage of its maturity, as well as ensuring members get the best value from their pension contributions.”
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