UKRF Trustee Board

The Trustee Board takes overall responsibility for the UKRF including governance, investment and administration.

About the Trustee Board

The UKRF is run by a Trustee company, Barclays Pension Funds Trustees Limited. There are nine Directors, and a third of these are member nominated directors (MNDs).

The current Trustee Directors and their date of appointment are:

Barclays Bank UK Retirement Fund Trustee Board Committee structure

About the Trustee Directors

The main role of the Trustee Directors is to:

  • Act in the best interests of all members and beneficiaries
  • Act in line with the UKRF Trust Deed and Rules and legislation
  • Be responsible for the proper running of the UKRF including: collecting contributions, investing assets and paying benefits
  • Ensure that members' benefits are secure.

Trustee Committees

In addition to the Trustee Board, there are two committees:

  • Trustee Audit Committee
  • Trustee Disputes Committee

There are also two permanent Trustee Advisory Groups:

  • Member Experience Trustee Advisory Group
  • Investment Advisory Group

Other groups are set up as needed.

Member nominated directors

Peter is the Chair of the Trustee Board and was appointed as a member nominated director in January 2011. He is retired from Barclays where he worked for 16 years, most recently as Group Treasurer. He is Chair of the UK pension fund for ANZ, Chair of the Diageo UK pension fund, Trustee of the Guinness Ireland pension fund and a member of the investment committee for the British Heart Foundation. Peter is a PMI Accredited Professional Trustee (accredited by the Pensions Management Institute). Peter is a member of the Trustee Disputes Committee.

Maxine was appointed as a member nominated director in September 2020. Max has worked at Barclays since 2006 working in the Investment Bank, Corporate Banking and latterly Barclays UK. Prior to Barclays, Maxine was at JPMorgan for 12 years, predominantly in Investment Bank, with early career in the Retail division of Lloyds Bank for seven years. Maxine is a member of the Member Experience Trustee Advisory Group.

Keith was appointed as a member nominated director in January 2015. He worked for Barclays for over 20 years, most recently as a Managing Director within Corporate & Investment Banking. He is a Non-Executive Director at LoopUp Group plc and has previously served as Vice Chair and Board Member of the Loan Market Association. Keith is a PMI Accredited Professional Trustee (accredited by the Pensions Management Institute). Keith is a member of the Investment Advisory Group and the Member Experience Trustee Advisory Group.

Independent directors

Eileen was appointed as an independent director in July 2020. She has had a varied career initially in corporate finance and tax, including being Head of Corporate Finance at Marks & Spencer and a partner at both Arthur Andersen and Deloitte. She has an extensive pensions background, having been CEO of the BT Pension Scheme and previously CEO of the ICI Pension Schemes and is an independent Trustee Director of the BBC Pension Scheme. Eileen is a PMI Accredited Professional Trustee (accredited by the Pensions Management Institute). Eileen is a member of the Trustee Audit Committee and the Investment Advisory Group.

Douglas was appointed as an independent director in March 2017. He is an actuary with 40 years' experience in the financial services industry, including spells with Scottish Amicable and HBOS PLC. He is currently an adviser to a number of private investment companies in the UK. Douglas is a member of the Investment Advisory Group.

Sue was appointed as an independent director in September 2016. She is a qualified accountant with over 30 years of financial and commercial experience, including spells as a senior executive with Standard Life and Lloyds Banking Group. She is currently a Non-Executive Director of Wates Group, Schroders and Co, FNZ UK, Clarksons and Co-operative Bank. Sue is a member of the Trustee Audit Committee and the Trustee Disputes Committee.

Management appointed directors

Paul was appointed as a management appointed director in September 2017. He is a chartered accountant and has worked for Barclays for over 25 years. Paul is the Finance Director for Corporate Banking and was previously a Trustee of the Barclays Capital Pension Scheme. Paul is a member of the Investment Advisory Group.

Lawrence was appointed as a management appointed director in January 2014. He is retired from Barclays where he worked for nearly 40 years, most recently as Company Secretary. Lawrence is a member of the Trustee Audit Committee and the Trustee Disputes Committee.

Sian was appointed as a management appointed director in July 2019. Sian is a qualified lawyer by background and is the current Head – Customer; Economic Crime for Barclays UK. Sian is chair of the Member Experience Trustee Advisory Group and a member of the Trustee Audit Committee.