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The Pension Protection Fund (PPF) announced today (30 April, 2018) the appointment of Chris Cheetham and Emmy Labovitch to its Board as Non-Executive Directors.

Chris Cheetham will formally join the Board on 1 May 2018. Emmy Labovitch will join the Board on 1 July 2018, following the end of Sharmila Nebhrajani’s term of office on 26 June 2018.

PPF Chairman, Arnold Wagner said: “I’m delighted that Chris and Emmy will be joining the PPF Board. This is an important time for the PPF with Oliver Morley joining as our new CEO and recent major corporate insolvencies highlighting the value of the protection we provide to pension scheme members. 

“Emmy brings with her a wealth of international pensions, investment and governance experience. Chris’s strong background in asset management will be equally invaluable. Both will help the Board to continue to serve the interests of our members and levy-payers, giving them security and confidence.

“As she leaves the Board, I’d like to thank Sharmila for her important contribution over the last six years and wish her well for the future.”

Chris Cheetham commented: “I’m delighted to be joining the Board and look forward to contributing to the PPF’s vital work. The PPF’s investment expertise is already well established and I’m looking forward to sharing my knowledge and experience as the PPF continues to grow.”

Emmy Labovitch added: “I’m thrilled to be taking up a Non-Executive Director role with the PPF. The PPF plays a vital role in the UK pensions system. I’m therefore delighted to be able to contribute my expertise and interests to the Board to help secure the continued success of the PPF.”  


Notes to Editors


Emmy Labovitch has a background in investment management, capital markets and consulting. Since 2015 she has been a full time Senior Policy Adviser at the OECD focusing on the pension fund sector and corporate governance. Starting in strategy consulting in Central Europe, she moved to James Capel, before joining Fortis Investments, first as Head of Emerging Equities, then as Global Head of Marketing.  Following a role at UBP she then moved to Novarca, a pensions and investments consultancy, where she continues to be involved as a consultant. In addition, Emmy holds a number of non-executive positions in the UK, including being a member of the Conduct Committee of the Financial Reporting Council, a board member of the charity and housing association Phoenix Futures and Chair of the Employer Committee of the Social Housing Pension Scheme. She was educated at Oxford and Harvard universities and has a MBA from INSEAD.

Chris Cheetham is currently Global Chief Investment Officer of HSBC Global Asset Management. Chris began his career with Prudential Portfolio Managers (now Prudential M&G) as an economist and fixed income fund manager. He later joined the AXA Group as Chief Executive of AXA Equity and Law Investment Managers, where he was responsible for the integration with Sun Life Asset Management, and subsequently became CEO of the combined business. On joining HSBC in 2003 as Global CIO, Chris took on the management of investors in 13 countries, managing investments across multi asset, fixed income, equities, active and passive, liquidity and alternatives.  In addition, Chris also has a trustee appointment with the Mineworkers Pension Scheme, where he has been Chairman since 2017.

The Pension Protection Fund:

The Pension Protection Fund protects millions of people throughout the United Kingdom who belong to defined benefit pension schemes. If their employers go bust, and their pension schemes cannot afford to pay what they promised, the PPF will pay compensation for their lost pensions. Tens of thousands of people now receive compensation from the PPF and hundreds of thousands more will do so in the future. The PPF is a public corporation, set up by the Pensions Act 2004, and is run by an independent Board.

For further press information contact:

PPF Press Office

020 7566 9775

[email protected]

Photos are available on request