ASSET OWNERS

RPMI Railpen chooses managing director to lead investment business

Julian Cripps was appointed managing director, investment business at RPMI Railpen, the in-house money manager for the £25 billion ($31.2 billion) Railways Pension Scheme, London, a spokesman said.

The position is new, and Mr. Cripps reports to Chris Hitchen, CEO of parent group RPMI. Mr. Cripps was also appointed as an executive director of RPMI.

RPMI Railpen's three investment directors, Ciaran Barr, Paul Bishop and Richard Williams, report to Mr. Cripps.

“I am delighted to have this opportunity to lead our investment business as we continue to build our internal capability to generate superior returns for our 350,000 members and their families,” Mr. Cripps said in a news release.

It could not be learned by press time how much Railpen manages internally.

Mr. Cripps joined RPMI in 2015 as chief operating officer, investments. A replacement could not be learned by press time.