The Pension SuperFund, the new venture from financier Edi Truell set up to consolidate closed company retirement funds, has bounced back from the loss of its high-profile chief executive with the hire of an equally high-profile chair.

Chris Hitchen, a stalwart of the UK’s pensions industry who led one of its largest funds — the £28bn Railways Pension Scheme — for almost 20 years, has joined with immediate effect.