A senior fund manager at Aviva who worked on investment strategy at its £13 billion staff pension scheme, has left to join the government's Pension Protection Fund – three years after the PPF's chief investment officer moved in the opposite direction.

Trevor Welsh will join the Pension Protection Fund in October, according to a statement made August 26 from the fund. The PPF was set up in 2005 with the sole purpose of rescuing the pension funds of bankrupt companies in the UK, and has grown since then to manage a portfolio worth £22.6 billion on behalf of 220,000 former employees of these defunct companies.