PBGC names finance veteran chief of negotiations, restructuring

Sanford Rich has been named chief of negotiations and restructuring at the Pension Benefit Guaranty Corp.

Sanford Rich, a longtime financial executive, has been named chief of negotiations and restructuring at the Pension Benefit Guaranty Corp.

In that role, he will supervise PBGC staffers involved with trying to keep troubled pension plans from terminating.

“PBGC protects retirement security by working to preserve pensions, not just waiting until they fail,” PBGC Director Joshua Gotbaum said in a statement Monday.

Prior to joining the PBGC, Mr. Rich was a managing director at Whitemarsh Capital L.L.C. in New York. The firm provides restructuring and financial advisory services to businesses in the health care, real estate, housing, manufacturing, media, energy, retailing and technology industries.

The PBGC position has been vacant since the retirement of Terrence Deneen nearly two years ago.