Smart Pension has appointed Michelle Darracott as its first chief strategy officer as it transitions to become a leading player in the broader DC and platform markets.
Michelle spent twelve years at Legal and General Investment Management (LGIM), most recently as head of digital investing. She also led LGIM's investment into Smart almost three years ago.
Her new role will be to lead the strategic evolution of the business, providing firm commercial clout and a fresh strategic perspective.
Michelle said: "Smart is unique as a tech company with a pensions focus. In a short space of time it has evolved significantly beyond just being an auto enrolment provider and it has the ability to be a disruptive player in financial services for years to come."
"Because its technology is so clean and new, without the legacy issues other traditional pension firms have to struggle with, it can move seamlessly into the wider DC world and offer its technology as a third party platform provider to a global market."
"Smart is building something its members love and other providers want. That's very exciting."
Andrew Evans Smart Pension co-founder and CEO, said: "Michelle is a trailblazer and her work at LGIM speaks for itself. She has clear focus, is meticulous and knows the market very well."
"Her role will be to join the dots, and shine a strategic spotlight on our vision as we evolve from auto enrolment to DC pensions and beyond."
"We're delighted to have her on board."
Michelle initially trained as an actuary, working in the UK and Hong Kong with Hewitt before moving to L&G, eventually heading up its Digital Customer Programme from strategy design to implementation.
She will be working closely with former Virgin CEO Stephen Murphy, who heads up the firm's board and is helping to develop its stature on the international financial technology stage.
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.