Investments Executive Committee


Diane Franklin

Head of Legal


Head of Legal, Diane Franklin has worked with Railpen for 14 years and is the longest serving member of the IEC. She has seven years of private practice within the financial sector on her resume, having spent time at multinational firms DAC Beachcroft and Dentons LLP.

Diane leads the Legal & Compliance team which manages legal, regulatory and operational risk and leverages our position as one of the largest UK OPS to negotiate robust and member friendly provisions in all the Trustee’s legal arrangements.

Mads Gosvig

Chief Fiduciary Officer


With 25 years of financial services expertise gained in some of the largest pensions and banking names in Denmark, Mads Gosvig’s resume speaks for itself. Since joining in April 2020, Mads has used his leadership experience from roles in ATP, NOW:Pensions, Danske Bank and KPMG to craft a Fiduciary team that is ‘the informed and influential client’ within the Investment Business.

Mads and his Fiduciary team are primarily focussed on aligning our investment offering and capabilities with client’s investment objectives and risk tolerances. Together, they are responsible for covenant, pension’s policy, investment strategy, risk management, sustainable ownership strategy and client relationship management.

Ro Hyland

Head of Communications


Ro Hyland, Head of Communications joined at the end of June 2020. A skilled communicator with over 25 years of experience in the field, Ro has circumnavigated organisations through periods of transformation, restructure and change in fast paced environments for both private and public sectors. Having headed corporate communication functions at Pension Protection Fund, Schroders, RBS and JP Morgan, Ro is highly experienced in managing internal and external communication functions, nationally and internationally.

Ro’s primary focus is building an Investment Business Communications function which enables two-way interaction between stakeholders in support of the Investment Business’s goals.

Anna Rule

Head of Real Assets


Anna is Head of Property at Railpen and is responsible for implementing Railpen’s long-term property strategy and managing Railpen’s property portfolio. Anna developed Railpen’s in-house property investment capabilities enabling the internalisation of the property portfolio during 2017. She is also responsible for overseeing property relationships with external parties.

She joined Railpen in January 2017 and has over 20 years’ investment experience. Before joining Anna held a position as a senior director and fund manager at Aviva Investors where she was responsible for a range of direct and indirect real estate portfolios.
Anna has a first class BSc degree in Land Management, holds the Investment Management Certificate (IMC) and is a FCA approved person.

Steven Tirrell

Head of Strategy and Planning


Steven Tirrell joined Railpen in February 2020 as Head of Strategy and Planning and has 20 years’ experience in the financial services industry. He has held finance, leadership and strategic roles at PwC, Morgan Stanley and Citi. He has a Chartered Accountant qualification from the South African Institute of Chartered Accountants.

Steven is responsible for the development and implementation of the strategy for the Investment business. This includes leading the delivery of departmental business plans, having ownership of the annual budgeting process and expense management, and measuring the success and effectiveness of change initiatives. He is tasked with ensuring that our strategy aligns with our core purpose and the trustees’ strategic goals. Additionally, partnering with Finance, Steven’s team sets and holds owners accountable to deliver against the annual budget.

Richard Williams

Chief Investment Officer


Our Chief Investment Officer, Richard Williams, leads the Investment Management Team with a simple objective – effectively managing our client assets in a manner consistent with the Trustee’s Investment Beliefs. Richard joined us in 2014, and is one of the longest serving members of the IEC.
Having first managed money with Railpen in 1995 during his tenure at FFTW, a specialised global fixed income firm, he is very familiar with our business and has watched its evolution.

An Oxford alumni with over thirty years of experience, Richard’s consulting actuarial and investment manager background has cemented his belief that by producing good investment returns we can reduce the pressure on member and company contribution rates and also maintain if not improve funding levels for all sections.

Jason Wood

Chief Operations and Technology Officer


Since joining in July 2020, our Chief Operations and Technology Officer, Jason Wood, has worked tirelessly alongside his team to uphold three primary responsibilities.

1. Providing high-quality, reliable services and solutions to enable the Investment Business to deliver the outcomes we need;
2. Managing the efficient and effective execution of investment decisions; and
3. Ensuring the safeguarding of our client assets.

Jason brings a wealth of senior leadership experience to the team. He has worked in the financial services sector for over 25 years, and previously held roles in Brooks Macdonald where he was Group COO and Schroders where he held numerous operational and technology leadership before becoming their Global Head of Data.