Senate Panel Backs Millard to Lead PBGC

The Senate Finance Committee has unanimously approved President Bush’s nomination of Charles E.F. Millard to be the next director of the Pension Benefit Guaranty Corp.

Millard, who has been serving as interim PBGC director, most recently was a managing director at Broadway Partners, a New York real estate investment and management firm.

Previously, Millard was managing director and head of wealth management services at Lehman Bros. and was a senior Cabinet official during the administration of former New York Mayor Rudolph Giuliani. He also was twice elected to the New York City Council.

The PBGC’s director post has been vacant since last year, when Bradley Belt resigned to take a position in the private sector.

Following the December 14 committee vote, confirmation by the full Senate is expected soon.

Filed by Jerry Geisel of Business Insurance, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.