Stephen Murphy will take control this month/September, with a view to helping the firm develop its stature on the international financial technology stage.
While at Virgin, Murphy oversaw the strategy and evolution of the brand as it transitioned into a global force we know today, creating six major international businesses each worth in excess of a billion pounds.
Murphy, who is also chair at Ovo Energy Group in the UK, will replace Smart's outgoing chair Sir Anthony Jolliffe, a former Lord Mayor of London, who has stepped down after three years at the helm of the fintech firm.
Murphy said: "Smart is a super interesting, exciting tech platform with an amazing market opportunity. Technology is already dramatically disrupting the financial services industry and Smart's management team has talent, enthusiasm and passion. This combined with Smart's impressive tech capability has boundless potential for evolution within a global market."
"There is already a lot of international interest in Smart - that demonstrates how good its technology is. My role will be to work on strategy with the team, sifting through their ideas, helping to define and fine tune the business model for the long term."
"I see Smart as a tech business, first and foremost. It has the potential to go beyond pensions and beyond the UK.
"I thank Sir Anthony for his exemplary work leading the board and look forward to working with the Smart team."
Andrew Evans, CEO and co-founder of Smart Pension, said: "We could not be more delighted that Stephen is joining Smart to lead our board. His extensive board experience in public and private companies both in the UK and globally, combined with his wide industry experience, including in-depth understanding of the way international regulatory authorities work, make Stephen an exciting new addition to our board."
" Sir Anthony has guided us brilliantly through the early stages of building our business, during which we have experienced exponential growth. We will always be grateful to him for his wisdom and insight. The appointment of Stephen heralds another exciting new chapter in Smart's development."
Launched in 2015, Smart Pension exceeds £4bn in assets under management (AUM) and now serves over one million members and more than 70,000 employers. It is powered by Keystone, Smart’s global savings and investments technology platform.
Aquiline Capital Partners, Barclays, Chrysalis Investments, DWS Group, Fidelity International Strategic Ventures, J.P. Morgan, Legal & General Investment Management, Link Group and Natixis Investment Managers are all investors in Smart Pension.