Chair or Trustee - Nuclear Liabilities Fund

Body: Nuclear Liabilities Fund
Appointing Department: UK Government Investments
Sectors: Business, Finance & Skills, Energy
Location: London
Skills required: Business / Commercial
Number of Vacancies: 1
Remuneration: £28,500 to £31,200 per annum
Time Requirements: Expected 2.5 to 4 days per month


An announcement has been made on the outcome of this appointment.

The Secretary of State for Business, Energy and Industrial Strategy has confirmed the appointment of two trustees to the Nuclear Trust, the independent trust that owns the Nuclear Liabilities Fund (NLF).

Richard Wohanka, an existing trustee and acting chair of the NLF board, has been appointed as chair on a permanent basis, with effect from 21 April 2017. Richard has more than twenty years of experience in asset management and was CEO of Fortis Investment Management from 2001 to 2009.

Sally Bridgeland has been appointed as a trustee and director of the NLF with effect from 21 April 2017. Sally is a qualified actuary with extensive experience in the financial services industry, including as CEO of the BP Pension Fund from 2007 to 2014. She is also a non-executive director of Royal London Mutual Insurance, Impax Asset Management and a Trustee of the National Employment Savings Trust.

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Campaign Timeline

  • Competition Launched


  • Closed for Applications

    22/02/2017 at 12:00

  • Panel Sift

    Week commencing 27 February

  • Final Interview Date

    Week commencing 27 March 2017

  • Announcement

    June 2017


Assessment Panel

  • Emily Ashwell Added 27/01/2017

    Panel Chair

    Executive Director • Departmental Official

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  • Tom Wintle Added 27/01/2017

    Deputy Director • Departmental Official

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  • David Long Added 27/01/2017

    Executive Director • Departmental Official

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  • Jerry Haller Added 27/01/2017

    Programmes Director • Other Panel Member

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  • Rosie Varley Added 27/01/2017

    Independent Member

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Vacancy Description

The Secretary of State for Business, Energy and Industrial Strategy (BEIS) is seeking to appoint a Chair or Trustee to the Nuclear Liabilities Fund (NLF).

The Nuclear Liabilities Fund (NLF) is a Scottish registered company and Trust investing assets to meet the costs of decommissioning the UK’s eight operational nuclear power stations, which are owned by EDF. The NLF currently holds assets of circa £9 billion, of which £7.4 billion is held in the National Loans Fund, the Government lending account. A further £1.6 billion is actively managed by the NLF trustees, predominantly in UK asset classes, such as infrastructure and property.

UK Government Investments, which acts as shareholder in relation to the Government’s holding in NLF and oversees the governance and performance of the NLF, now wishes to identify a chair or an additional trustee for the Fund. The chair will lead an expert board and work closely with senior stakeholders and partners in industry and in Government, as well as act as spokesperson and advocate for the NLF. The chair is responsible for the delivery of the investment policy set by the Secretary of State for Business, Energy and Industrial Strategy, and for ensuring that the NLF board takes all necessary actions to fulfil its responsibilities, including monitoring and reviewing the implementation of the investment strategy and portfolio performance, monitoring and managing risks to, and opportunities for, the Fund and regularly reviewing the Fund’s sufficiency, including liquidity requirements. In the case of a trustee he/she will share the Boards’ collective responsibilities, supporting the chair and will likely be a member of the Board’s Investment Committee.

Person Specification

Candidates must be able to demonstrate experience commensurate with this role and the highest levels of integrity, authority and independence.

Specific criteria include:


  • Relevant experience and a clear record of leadership at senior management level in an investment/asset management/financial institution, or similar role, with demonstrable expertise in asset management and investment strategies and their risks.
  • Board experience, preferably including in a non-executive capacity.
  • Excellent inter-personal skills and experience of managing complex stakeholder relationships within a senior leadership context.
  • Strong intellectual capability, with the capacity to understand technical financial issues and to think strategically.
  • A commitment to the values of public service.


  • For the Chair, previous experience as a non-executive chair of a public or private sector Board is highly desirable.
  • Experience of working at senior levels within or alongside the public sector.
  • Experience of asset management across all main asset classes, including UK and international equities, debt and private market investments, such as infrastructure, property and/or private equity.
  • Experience of ensuring financial dealings are prudently and systematically accounted for, audited, and publicly available.

How to Apply

Further details on the process to be found in the applicant information pack (attached)

NLF Chair and Trustee Applicant Pack
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