Lifestyle Article - Marker replaces McPhail as chair of STAR Steering Group


Andrew Marker has succeeded Tom McPhail as Chair of the STAR Steering Group. Tom was the founding Chair and left the industry in June.

 The Steering Group is made up of senior members, and is overseen by the Financial Conduct Authority, the Department for Work and Pensions, The Pensions regulator and other consumer groups.

 Andrew is Head of Retail Pensions, Vanguard Asset Management Ltd, and has extensive technical experience in respect of retail and occupational pensions as a result of a 25-year career in pensions that has spanned roles from operations, proposition, and product design.

 He has worked with the UK regulators and through various trade bodies to help shape the UK retail pension regulations to further improve the pension industry in the UK.

 He is an active member of the ABI Platforms Working group and in Europe the EFAMA Pension Standing Committee working on the Pan European Personal Pension (PEPP). 

 As Head of Retail Pensions for Vanguard in the UK, he is responsible for the retail pension product design and implementation. In addition, he represents Vanguard at various trade body working groups and committees which cover the retail investor and retirement market.

 Commenting Andrew said: “I am committed to taking a stand for retail investors, ensuring they are treated fairly and giving them the best chance of investment success. I am also firmly committed to the time I need to dedicate to achieve this.

 “I strongly believe in the development of a robust set of transfer standards adopted by all within the industry and the importance this will play in the success of the financial services within the UK market.

 “Government and regulators have set a clear challenge to the industry: fix this for the benefit of your customers or we will impose regulations on you. It is essential that the perspective of the end retail investor is taken into account in the formulation of transfer standards.

 “Within this framework it is also important to understand the challenges certain proposals may have on organisations operating in the UK market, both from a cost and practicality perspective.

 “Implementing and evolving standards within the market will need to balance all of these challenges and also has the benefit of improving the robustness, competitiveness and value-for-money of the UK pension and savings market.

 “I am honoured to chair the Steering Group and am passionate about the role STAR is playing in making transfers easier and more successful for UK investors.”
   

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