Sunday, 24 September 2017

    Paul Spencer named most powerful professional trustee

    Sole trader tops the list by nearly £9bn of pension fund assets

    Sole trader Paul Spencer presides over the most pension fund assets of any professional trustee, exclusive Pensions Insight research has found.

    Spencer, who isn’t affiliated to any independent trustee firms, sits on the boards of some of the UK’s biggest funds including the BT, Rolls-Royce, British Airways and British American Tobacco pension schemes.

    These appointments mean he has responsibility for over £70bn of assets, nearly £9bn more than Catherine Claydon, who came second in the list. See image on the right for the full list.

    Spencer is a non-executive chairman of State Street Managed Pension Funds and was appointed CBE in 2010 for his services to financial services.

    Kevin Carter, who sits on the USS, BBC and Centrica boards, came third place and Mark Ashworth - Royal Mail, BP, Lloyds, Sainsburys, came in fourth with £43.3.bn of assets.

    Law Debenture was found to be the most influential professional trustee firm.

    See our map of the independent trustee universe here.

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