20 May 2013

First independent chair for Mastertrust

Paul Trickett has taken up a new role as independent chairman of Legal & General's WorkSave Mastertrust.

He joins Legal & General from Goldman Sachs.

Director of Legal & General Trustees Limited, Tony Filbin commented: "We are delighted to have the benefit of Paul's knowledge and experience and are confident that this initiative, which is designed to strengthen the independence of the Trustees, will further enhance our proposition."

Paul Trickett commented: "I am very pleased to be appointed as the chair of the Board of Trustees. This structure reinforces benefits of independent trustee governance and I firmly believe this is good news for Mastertrust members."

In the new structure, WorkSave Mastertrust Trustees retain two corporate trustees:

  • Pitmans Trustees Limited, a leading independent trustee and governance services provider.
  • Legal & General Trustees Limited.

Legal & General believes continued involvement of its employees within the Trustee structure will help to ensure that day-to-day activities are managed effectively, while independent control will strengthen the ability of the trustees to deliver a strong fiduciary focus.

Workplace Savings was named Corporate Platform / Wrap Provider of the Year by the UK Pensions Awards (May 2013).

Paul Trickett biography

Paul Trickett, new independent chairman of Legal & General's WorkSave Mastertrust.

Paul has been involved in the UK pensions and investment industry for over 25 years.

He was Managing Director and Head of the EMEA Global Portfolio Solutions team at Goldman Sachs Asset Management from 2011 to 2013.

Prior to that he spent 13 years at Watson Wyatt/Towers Watson where he was head of the EMEA investment consulting business and chaired the Board risk committee of Watson Wyatt.

He was previously Chief Executive of the British Coal pension schemes and worked for the trustee bodies of the two pension schemes in working through the privatisation of the coal industry in the 1990s.

He has now embarked on a non-executive career, which includes Chairing the trustee body of the Zurich UK pension scheme and is a board member of Aberforth Smaller Companies investment trust.

Pitmans Trustees Limited

PTL is a top five independent trustee firm with offices in London, Leeds and Reading. PTL acts as an independent trustee and provides a range of governance services, predominantly to occupational pension schemes, including trust based defined benefit and defined contribution schemes and contract based pension schemes including group personal pension plans. PTL also provides a range of governance services to other non-pension trusts.

More information can be found on www.pitmanstrustees.com