Clara-Pensions has appointed Simon True as chief executive.
True is a highly respected life insurance executive, with over thirty years of experience in the industry. His most recent executive role was the Group corporate development director and group chief actuary at the FTSE100 insurer Phoenix Group. He previously led the M&A teams within Resolution plc and Resolution Operations both of which grew into FTSE100 businesses.
He takes over from Adam Saron who founded the business and successfully led it through its regulatory assessment process last year. Adam will continue in an advisory role.
At the end of November 2021, Clara-Pensions successfully passed The Pensions Regulator’s assessment process for ‘superfunds.’ By the end of 2025, Clara expects to have consolidated £5 billion in defined benefit pension scheme liabilities.
Clara’s chairman Lawrence Churchill CBE says: “We would like to express our thanks and gratitude to Adam for his work in bringing Clara to its current position. He has been a driving force in the creation of the DB consolidation market and taken Clara from an idea to the point where we have a firm foundation for our future development.
“As Clara moves from its initial stage of Regulatory assessment to the next phase of accepting pension scheme members, we are delighted to have attracted someone of Simon’s industry stature, experience and reputation. Pension Trustees and Sponsors have expressed their clear interest in Clara’s solution, and we anticipate a period of significant activity ahead.”
True says: “I am excited by the opportunity of leading Clara in the next phase of its development. Having followed Clara as it has developed, it is clear it has a unique proposition to provide enhanced security for the benefits of hundreds of thousands of pension scheme members. I am looking forward to leading the Clara team and working with scheme trustees, sponsors, regulators and advisors to deliver improved outcomes for pension scheme members.”