Chris Hitchen will become chief executive of the Railways Pension Trustee Co. Ltd., London, which oversees the £12 billion ($21.45 billion) Railpen Pension Plan for employees of the U.K.'s railways. He is replacing Peter Murray, who will retire on May 19. Mr. Hitchen also will retain his job as managing director and head of investments, said a company spokesman. Mr. Hitchen also was recently appointed chairman of the investment committee of the U.K.'s National Association of Pension Funds. He replaces Ken Ayers, whose two-year term ends in May.