UK - Paul Spencer is set to become chairman of the trustee at the £35bn (€40.6bn) BT Pension Scheme, the largest pension fund in the UK, on 1 March.

Spencer, who has been a trustee director at the fund since 2009, succeeds Rod Kent, who will step down after three years at the helm.

He is also currently serving as chairman of British Airways Pensions, independent trustee and chairman of investments for the BAT Pension Fund and chairman of trustees of the investment committee for Rolls-Royce Pension Fund.

Spencer previously served as UK chief executive and group finance director at Royal & Sun Alliance and associate director and treasurer at Hanson.

Before then, he was group treasurer at Rolls-Royce and chairman of National Savings and Investments. He has also been president of the Association of Corporate Treasurers.

Spencer was awarded a CBE in 2010 for "services to financial services".