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Babloo Ramamurthy has been appointed as Chairman (from November 2013) of B&CE, provider of one of the new leading Master Trusts, The People’s Pension, and the UK’s largest Stakeholder Pension, EasyBuild, which has over 500,000 members.
Prior to his appointment, Mr Ramamurthy spent nearly 35 years with Towers Watson, the global consulting firm specialising in actuarial, investment, risk management and talent and rewards management. He was the Managing Director of Towers Watson’s business in Europe, the Middle East and Africa and a member of the group’s Executive Committee, previously serving on their Board.
Mr Ramamurthy replaces Sir John Chilcot, who retires after 14 years’ service as B&CE Chairman. Sir John and Mr Ramamurthy will work closely together until November, when Mr Ramamurthy will officially take up his role as Chairman.
Sir John said:
“B&CE is much more than a provider of financial services, it genuinely cares about the welfare of each and every one of its members – they are at the heart of all that it does. It makes me immensely proud to have served B&CE as their Chairman for the last 14 years.
“Whilst the organisation continues to deliver valuable benefits to the construction industry, it has also delivered a market leading product in The People’s Pension that is being used by hundreds of companies across multiple sectors. Much has been achieved but much more remains to be done and so I am very pleased that the Board has chosen to appoint someone with Babloo’s extensive industry experience to guide B&CE through the next part of the organisation’s journey.”
Mr Ramamurthy added:
“I am delighted to be joining B&CE at such an exciting time in the organisation’s development. Automatic enrolment is one of the biggest changes to affect pension provision in a generation. The success of The People’s Pension, B&CE’s rapidly growing automatic enrolment proposition, indicates their strength at providing a low cost, high quality and wholly transparent product. This bodes very well for the future.
“I am confident that by working together – Board, Executives, staff and members – B&CE is more than capable of meeting the many challenges and maximising the numerous opportunities that lie ahead.”