She joins from her current role as executive director, governance, at the Financial Conduct Authority.

Until recently she had been seconded from the FCA to be interim chief executive and Chief Ombudsman of the Financial Ombudsman Service.

Ms Delfas, a former solicitor at City law firm Freshfields in London, will begin her new role at the TPR at the end of March 2023 and will replace Charles Counsell.

At the TPR she will lead the organisation and help implement new initiatives to improve outcomes for savers.

Major changes will come from the planned Pensions Dashboards and the new DB Funding Code.  

The TPR says her key focuses will be on driving value for money for savers, ensuring automatic enrolment continues to be a success and tackling criminal activity. 

Sarah Smart, chair of TPR, said: “I am thrilled to appoint Nausicaa Delfas to the role at a time when the pace of change in the pension industry shows no sign of slowing. Nausicaa has a proven track record of delivering transformational change, and her background in governance will be vital as we ensure those who deliver pension savings are meeting the challenges of new legislation, and as we continue to improve our effectiveness by becoming a more data and technology-led organisation.   

“I am confident Nausicaa will put value for money, equality and diversity and a determination to tackle wrongdoing at the core of her priorities to help us fulfil our commitment to protect savers and develop as an organisation fit for the future. 

“I would like to thank Charles for his outstanding work as CEO. He has worked tirelessly to help TPR become the clearer, quicker and tougher regulator it is today, embedding wide-ranging new legislative duties and showing that we will take action to tackle criminal behaviour. He has led from the front and has engendered the values by which we, and the industry, should all work.” 

Ms Delfas said: “I am delighted to be joining TPR as CEO at a time of significant change and challenge. Saving effectively for the future is essential for everyone. TPR plays a key role in protecting work-based pensions and the post-retirement income of over 30 million people. I look forward to leading this organisation in its critical work."

Pensions Minister Laura Trott said: “I want to congratulate Nausicaa on her appointment as TPR’s new chief executive. Nausicaa will bring a real wealth of experience to the role and I’ve no doubt she will be an excellent choice to continue the pivotal role played by Charles Counsell and the whole TPR team in supporting and expanding pension saving across the country.”