Steve Mitchell joined RPMI Railpen as compliance and risk director within the investment business, a spokesman said.
Mr. Mitchell is responsible for maintaining a robust approach to compliance and risk management as RPMI Railpen continues to grow internal asset management capabilities, a news release said.
Mr. Mitchell replaces Lisa Sunner, who previously held the compliance and risk roles, in addition to being company secretary, the spokesman said.
“The split between the roles reflects the growth in the organization as RPMI continues to bring investments in-house,” the spokesman added. Ms. Sunner remains company secretary following Mr. Mitchell’s appointment.
RPMI Railpen manages the assets of the £25 billion ($31 billion) Railways Pension Scheme, London.
Mr. Mitchell reports to Julian Cripps, managing director, investment business.
“(Mr. Mitchell’s) appointment demonstrates our ability to attract the best talent from across the asset management industry. As we continue to strengthen our internal investment capabilities, it is important that we are able to maintain — and build upon — our robust approach to both compliance and risk management,” Mr. Cripps said in the news release.
Mr. Mitchell was founder and director of Summit Compliance Services. A spokesman for the firm was not available to comment by press time.