PBGC Names Chief of Negotiations and Restructuring

December 17, 2012 (PLANSPONSOR.com) – Sanford Rich has been appointed to lead the Pension Benefit Guaranty Corporation’s (PBGC’s) efforts to preserve traditional pensions.

As chief of Negotiations and Restructuring, Rich will supervise staffers involved with supporting troubled plans. He will head the Corporate Finance and Restructuring Department, the Office of the Chief Counsel and the agency’s multiemployer and standard termination programs.

Rich has decades of experience in senior leadership positions at Merrill Lynch, GEM Capital and Citicorp. Prior to joining PBGC, he served as managing director of Whitemarsh Capital LLC, a restructuring and financial advisory firm in New York.

“I came to PBGC because pensions offer the best chance at having a good retirement,” Rich said. “This is the place where I can use my years of business experience to help people keep the benefits they worked hard for all their lives.”

Rich replaces Terrence Deneen, PBGC’s veteran Chief Insurance Program Officer, who retired in January 2011.