Waves And Sunset

Independent Directors

Bridge Trustees 
Represented by:

brian-duffin Brian Duffin

I took over as Chairman of the Trustee Board in December 2010, with the responsibility of ensuring that the Board operates to a high standard.  We have a lot of experience and expertise around the Board table so I put particular emphasis on collecting the views of all the trustees, before reaching clear and practical solutions.  With a common aim of serving the interests of our members, our debates are constructive and we have the assistance of expert advisers on technical matters when these arise.  My experience and training are helpful in this role, as I am an actuary and have been involved with life assurance and pensions for over thirty five years.  My training as an actuary was at Scottish Life, a major pension provider in Edinburgh, where I became Chief Executive.  Following a merger with Royal London I served as Executive Director before leaving to enjoy a wider range of challenges. I have held various appointments, including chairing another major pension scheme, advising the two Coal Board schemes, and I currently act in a monitoring role for a life assurance company.  Since 2010 I have been a Non-Executive Director of the Debt Management Office, which is responsible for funding the National Debt for the government and for managing its main wholesale treasury activities.

giles-orton Giles Orton

Giles is Chairman of Bridge Trustee Limited  and President of The Association of Corporate Trustees. He has been involved with the Plan since being appointed by The Pensions Regulator in 2007. Giles also practices as a solicitor, specialising in pensions disputes. He has a record of acting for pensioners in leading cases such as Maxwell and Imperial Tobacco and has  also worked with  the government on the establishment of the Pension Protection Fund. 

Law Debenture 
Represented by:

david-felder David Felder

David represents Law Debenture on the trustee boards of a number of DB and DC schemes of varying sizes and complexity. He chairs several of these and several of their investment and audit committees.
David has over 30 years’ experience of working with pension funds in both the public and private sectors, first at Morgan Grenfell (now part Aberdeen Asset Management) as a fixed income fund manager and then at what was Kleinwort Benson where he was Head of Fixed Income between 1992 and 1998. Along with pension funds, clients included government organisations and insurance companies in the UK and internationally with a wide range of investment requirements. More recently David was Head of Investments in London for Daiwa SB Investments, a joint venture between two of Japan’s largest financial organisations, Daiwa Securities and Sumitomo Bank.

David is a fellow of the Chartered Institute for Securities and Investment.


Inder is a non-executive director, independent pension trustee and an experienced senior executive from the financial services industry. He serves as director of Law Debenture, representing them on the trustee boards of a number of large pension schemes including as chair of the investment committees.
Inder’s areas of expertise include strong governance, investment strategy and risk management across both DB and DC schemes. He has experience of leading triennial valuations and negotiations (including on behalf of the sponsor) and implementing complex asset encumbrance solutions to mitigate covenant risks. He advises on Investment Strategy, specifically concerning risk management, implementing LDI, agreeing dynamic de-risking trigger mechanisms and managing asset diversification.
Inder’s career has spanned financial services, business, academia and engineering. Prior to joining Law Debenture he spent two decades working in banking covering treasury, finance, risk management, pensions and insurance. His last role at Lloyds Banking Group was as Senior Executive with Group-wide responsibility for market and liquidity risk and prior to that as Managing Director at Nomura International plc.

Capital Cranfield 
Represented by: