The Institute and Faculty of Actuaries has announced the appointment of Derek Cribb as its Chief Executive. Mr Cribb has been Acting Chief Executive of the professional body, having joined the organisation in May 2010.

Mr Cribb is a Chartered Accountant and he has broad experience, having carried out a range of strategy, operations, and financial roles.  He has worked in a wide variety of businesses in the commercial and not for profit sectors, including professional and financial services and outsourcing.  His previous positions have included Interim Chief Operating Officer of the Pension Protection Fund, Interim Finance and Operations Director of Navigant Consulting Inc and Chief Financial Officer, UK Customers and Products of Barclays plc.

Commenting on the appointment Jane Curtis, President of the Institute and Faculty, said: “We are very pleased to announce Derek’s appointment which follows an extensive external selection process.  In the time he has been with the Profession, Derek has already made a significant difference, leading a successful restructure of the Executive team to create an organisation that is more effectively focussed on supporting our members.  Earlier this year we launched a new strategy for the Profession and I am confident that Derek, with his drive and experience, is just the person to help us make great progress in achieving our objectives in the years ahead.”  

Derek Cribb said: “I’m delighted to be taking on this role and I look forward to continuing to work with Council and Management Board members, senior volunteers and the Executive team to deliver an organisation that provides truly first class services for our members, wherever they are in the world.  I’m also looking forward to playing my part in helping to raise the profile of the Profession and in working with our members to take our educational and regulatory approaches forward, reinforcing our commitment to the highest standards as we continue to serve the public interest.”

ENDS

Enquiries: Tel. Michael Scanlan on 020 7632 1453 or email michael.scanlan@actuaries.org.uk

Notes to editors:

  1. Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.
  2. Members of the Profession have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s.
  3. The Profession is governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of the Profession in society.
  4. The Profession is available to provide expert comment to the media on a range of actuarial- related issues, including enterprise risk management, finance and investment, general insurance, health and care, life assurance, mortality, and pensions.