Dermot ‘Skip’ McMullan was a managing director at Bank of America prior to becoming an Independent Chair of Trustees. During his career at Bank of America, he was involved with the majority of major industries and developed the origins of the PFI financings. Most recently he was responsible for all the relationships that the Bank had in UK and Europe with other financial and non-financial institutions.
Currently he chairs the trustee boards of the Bank of America UK Pension Plan and the SSVC Pension Plan. He is also a director of the Bank of America Merrill Lynch UK Pension Plan. Bank of America closed its DB plan to new entrants in 1990 and now has one of the largest DC plans in the UK. In April 2013 he joined the LPFA board and the board of Semperian PPP Investment Partners in July 2014. In September 2015 he was asked to be the LPFA nominated director on the board of the Local Pensions Partnership (LPP) and is the Chair of the Remuneration Committee. In July 2017 he was appointed Deputy Chairman of the LPFA.