The Scheme Trustee is delighted to confirm that Ruston Smith has been appointed as Chair of the HSBC Bank Pension Trust (UK) Ltd effective from 1 January 2026.
Ruston was Group Pensions Director at Tesco (Sponsor and Trustee role) and CEO of Tesco Pension Investment Ltd until 2017, following which he built a non-executive portfolio, including becoming Chair of the Tesco Pension Fund (DB and DC) and the Independent Trustee for the BAE Systems Pension Fund.
He was also Chair and independent non-executive director of JP Morgan’s UK and EMEA Asset Management businesses and on their Funds board – where he stepped down at the end of last month after completing his 9-year term.
He has also been a trustee director of two UK master trusts and Chair of Smart Pension’s group business where he is now an advisor. Ruston is the Chair of the Pensions Management Institute and was former Chair of the Pensions and Lifetime Savings Association and has been involved in industry and regulatory groups.
Ruston Smith commented
‘It’s an honour to be selected as the Trustee Chair for the HSBC Bank (UK) Pension Scheme. Having enjoyed a career in pensions and investment, I’m hoping to bring a different perspective to the Trustee board and help to ensure that it continues to deliver benefits and excellent services to all members of the Scheme. I look forward to working with the Pension Scheme Executive and my fellow Trustees’.