PTL, an independent trustee and governance services provider, has appointed a new board following the company’s management buyout (MBO) which concluded late in April.
Four new directors will join the board, replacing the previous owner directors who retired following the MBO.
Kim Nash, Colin Richardson and Alison Bostock will join the board as equity directors, alongside Richard Butcher, Steve Carrodus, David Hosford and David Archer.
Additionally, Ruston Smith, until recently group pensions and insurable risk director at Tesco, CEO of Tesco Pension Investment and a former chairman of the Pension and Lifetime Savings Association, will join the board as non-executive chairman.
Richard Butcher (pictured), managing director at PTL, says: “One of the big advantages of the MBO was that we could reshape the board to really reflect who we are as an organisation. That meant having people on there who work in the business, who live and breathe pensions. These individuals truly understand the objectives and challenges our clients have, that we have and that the industry has. Adding Kim, Colin and Alison to the board was a no brainer. Their skills, experience, knowledge and judgement will be a huge asset to the board. It’s great to have them on the team.
“Ruston is a highly sought after pensions professional, attracting him to join the PTL board was a real coup and we are absolutely thrilled. He has a great pedigree in pensions and of innovation and energy – both of which are also characteristics of PTL and our team. He will, of course, add to the talent pool but more importantly he will help us to set and deliver a robust and deliverable strategy focussed on the needs of our clients, the members of the schemes we are responsible for, our team and the business.”
Ruston Smith says: “I'm delighted and privileged to become the non-executive chair of PTL. I'm looking forward to being part of a highly motivated, experienced, innovative and customer focused team.
“The size and nature of our business means that we can think strategically but act nimbly – to provide first class, leading edge solutions and services to meet the challenges and needs of all our highly valued clients.”
The firm, which was first incorporated in 1994, has grown to 25 staff over its 23 years and now boasts offices in five UK locations.
