About TfL Pension Fund

Stephen Field

Stephen heads up the executive of the TfL Pension Fund and started his career in the former London Transport Superannuation Fund office (now the TfL Pension Fund Office) and has since been employed in the pensions industry for more than 38 years. 

He has held senior pensions positions within a number of companies, including Centrica Plc where he undertook a number of important roles during his 6 years there, culminating in that of Group Pensions Manager. 

This was followed by a period with The Automobile Association, where he was Group Pensions Manager, a position he held for over 3 years and where he had responsibility for the provision of pension benefits and the governance and control of investments of the company’s benefit scheme.  

Stephen rejoined TfL as Head of Pensions and Fund Secretary in January 2008 and in 2013 was promoted to Director of Pensions & Reward and Fund Secretary.  He is a Trustee of the TfL Savings for Retirement Plan and a member of the management committee of the British Transport Police Superannuation Fund. 

Stephen is a Fellow of the Pensions Management Institute. 

Tim has worked for TfL since August 2008 and in his role as Head of Pensions responsible for the day-to-day operations of the Pension Fund Office providing services to the Fund Members. 

Tim has 38 years’ experience working in the pensions industry having held senior roles working on other large in-house defined benefit pension schemes, including Kingfisher plc where he was Pensions Operations Manager.  He is a Trustee of the Tube Lines Pension Scheme.  

Tim is an Associate of the Pensions Management Institute. 

Chief Investment Officer (CIO) 

Padmesh Shukla is CIO of £14 billion TfL Pension Fund where he has delivered major changes from diversifying the Fund’s bond and equities portfolio to building its large alternatives programme. 

He also leads the Fund’s sustainability and engagement strategy in the Fund Office and is working on the delivery of the Fund's ambitious Net Zero targets. Emerging markets and climate change are of particular interest to him, having previously worked at the World Bank and the Centre for International Development.  

He went to Harvard University on full scholarship for his Masters in International Economics and Development (major in Finance) and has a Bachelors in Civil Engineering.  

He sits on the UK CFA Asset Owner Council and is also an independent investment committee member of the Church of England Pension Scheme. 

Mercillina Adesida is a Non-executive Trustee Director of the TfL Pension fund and her professional background includes working as an operational senior manager responsible for train operations and have managed stations operations in recent years.  

Prior to working with TfL, she has also worked as a Head Executive Officer in the Ministry of Justice. She sits on the Appeals Committee and is Vice Chair of the Operations Committee.  

Since November 2020, Maria Antoniou has held the position of Group HR Director of Morgan Advanced Materials. Morgan is a global FTSE 250 company that manufactures carbon and ceramic products across many industries and a large number of markets.  

Until May 2020 was Senior Vice President HR & Executive HR (Chief Human Resources Officer) for E.ON based in Germany.  Maria joined E.ON in 2008 as the UK HR Director and in 2013 was appointed to the position of CHRO. E.ON is one of the largest European operators of energy grids and provider of customer solutions. Prior to joining E.ON, Maria spent two years working in the public sector as Group HR Director for Transport for London and 20 years with Ford Motor Company in a generalist HR career including 5 years as CHRO for Jaguar, Land Rover and Aston Martin, Land Rover’s biggest site.  

Maria is a non-executive Director at NATS – the UK’s leading provider of air traffic control services, Chair of the Remuneration Committee and member of the Nomination Committee as well as Chair of NATS Employee Share Trust. Maria was previously a Trustee of Ford Motor Company’s UK Senior Staff defined benefit pension fund.   

Trish has worked at TfL since 2001.  She is an experienced leader of Operational business, both direct operations and contracted services.   

She is Director of Rail and Sponsored Services, responsible for London Overground, DLR, Trams, Cycle Hire, London River Services, the London Cable Car and E scooters.   

Trish has been a trustee since 2016 and currently Chairs the Appeal Committee and sits on the Investment Committee. 

Tom is the Head of Bus Business Development at TfL. He has held various commercial and strategy roles in London Buses over the last 20 years, including a three-year secondment to the London Organising Committee for the Olympic Games.  

Prior to that he worked for a bus operator and in the media. He joined the Board as an employer nominated trustee in July 2021, and currently sits on the Operations Committee and is Vice Chair of the Audit & Risk Committee. 

Mark has worked for Transport for London since 2006. He has previously been Director of the Delivery Unit and was Director of Games Transport in the lead up to London 2012. He is currently Chief Customer Officer, overseeing TfL’s research and insight team, customer strategy development, and improvements to customer experience on public transport. 

He is Vice Chair of the Investment Committee and Chair of the Alternatives and Liability Hedging Committee, and has previously been a member of the Appeals Committee. 

Rebecca was appointed as a Trustee Director of the TfL Pension Fund in 2019 and sits on the Investment, Alternatives Liability & Hedging and Actuarial Valuation Committees.   

Previous committee appointments included the Operations Committee and Vice Chair of the Audit & Risk Committee.  

She joined TfL’s Group Finance team in 2018 as a Senior Treasury Accounting Manager and presently works as a Senior Investment Appraisal Manager within the Places for London, Financial Planning & Investment team. Rebecca is also a non-executive Director of Innisfree, a London based Housing Association. Holding a professional background in treasury, financial risk management in addition to chartered accountancy and audit; Rebecca is a fellow of the Association of Corporate Treasurers, a member of the Institute of Chartered Accountants Ireland and a Professional member of the Pension Management Institute.

Chris Reader MBA, MSc – Head of Commercial Media, TfL (Transport for London) 

As Head of Commercial Media, Chris leads the management of TfL’s extensive advertising and media portfolio, arguably the world’s largest, across rail and underground, bus shelters, roadside, online and print distribution.  

The role spans management of our partner contracts (Global, JCD, Metro and Evening Standard) as well as strategy, advertising policy, capital investment in assets, integration of TfL data and creative partnerships across the entire estate.  

Chris has been involved in the evolution of TfL’s commercialising of its asset base across the capital since 2014, leading the implementation of the Commercial Development directorate. Prior to this, he has held a wide range of roles across TfL, including roles in Finance, Business Operations, Project Delivery and Change Management.