The Pace Trustee Board is called Pace Trustees Limited and is a separate company from the Co-op.
A trustee board is a group of people, known as trustees, who make sure that a pension scheme is run in the best interests of members. Trustees work closely with specialist advisers, who help them look after a number of areas, including investments, governance, funding and administration.
There are 9 Trustee Directors on the Board:
- 3 Professional Independent Trustees who are pensions experts
- 3 Trustees chosen by the Co-op
- 3 Trustees chosen by members of Pace
The Pace Trustees meet frequently and undertake regular training in relation to issues that they will need to understand in detail in order to carry out their role, for example, investment strategy or valuing DB scheme benefits, as well as current pensions issues.
Professional Independent Trustees
Harry Baines (Chair)
Harry is the Chair of the Pace Board and is a professional independent trustee.
Harry has over 20 years’ senior executive experience in major UK public companies across a range of industries, supporting boards with strategy, governance and effectiveness and overseeing corporate transactions.
Harry is also the Chair of Lloyds Banking Group Pension Trustees Limited, the Board responsible for the principal pension scheme for HBOS and Lloyds Bank, and the Chair of the BHS2 Pension Scheme.
Stuart is a professional independent trustee. He is a former actuary, and was previously a partner with a leading global pension consultancy, with many years of experience in working with schemes of all sizes, particularly on funding, investment and risk issues.
Anne is a professional independent trustee and a consultant on pension scheme governance. She is a Fellow of the Institute & Faculty of Actuaries, and was previously a partner with a leading global pension consultancy. She has significant experience in advising pension schemes on a range of issues including investment, funding, risk management and governance.
Trustees chosen by the Co-op
Stuart has worked with the Co-op since 2005 and was appointed as an employer nominated trustee of Pace in 2016. Stuart is the Director of Portfolio and Development at the Co-op, leading the team responsible for setting and delivering the Co-op's property strategy. Stuart is a chartered accountant and has previously held roles with KPMG, Siemens and the Co-op in corporate finance, business and corporate strategy.
Sarah joined the Co-op in February 2013 and was appointed as an employer nominated trustee of Pace in 2013. Sarah is a qualified solicitor and following a number of years as Head of Employment within the Co-op’s legal team has more recently been appointed as General Counsel to the Funeralcare business.
Andy has been with the Co-op since 1998 and has held a number of senior roles in both the Food and Group Finance teams. He is an experienced trustee having been appointed as an employer nominated trustee of Pace in 2012. Andy is currently Finance Director, Corporate, leading the Group Finance Team.
Trustees chosen by members of Pace
Geoff worked for a number of years in financial planning, banking and customer services prior to joining the Co-op’s Funeralcare business in 2015 as a Funeral Services Operative. Geoff was appointed as a member nominated trustee in September 2016.
Heather was appointed as a member nominated trustee in September 2016. Heather joined the Co-op in 2013 as an employment lawyer in the Co-op’s in-house legal team and spends her time advising on strategic employment matters across the Co-op’s range of businesses.
John is a Pace pensioner, and has strong links with the Co-op having previously worked for The Co-operative Insurance Society (CIS) as both an auditor and a financial adviser, for 35 years. Retiring early, John was first elected as a pensioner member nominated trustee of Pace in 2006 and was successfully re-elected for a third term in 2015.