UK - The Railways Pension Trustee Company (Railpen) has appointed Frank Johnson (pictured) finance director of the £14bn pension fund.
Johnson was previously finance director at South Eastern Train Holdings, a subsidiary of the Strategic Rail Authority. He was appointed group chief accountant of the British Railway Board in 1991.
Chris Hitchen, chief executive of Railpen said in a press release: “Frank’s considerable experience and knowledge of the rail industry gained at the Strategic Rail Authority, at train operating companies and at Stagecoach Group will be invaluable given Railpen operates one of the most complicated schemes with over 100 separate and individually valued sections.”
Former finance director Malcolm Gray retired after being with Railpen since 1991. Hitchen said: “Malcolm, a pioneer in the field of corporate governance, wrote what we believe was the first UK pensions scheme corporate governance policy in 1992 and developed the concept of pension fund operational risk management.”
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