Pension Funds

RPMI adds managing director of pensions business

Paul Sturgess was named managing director of pensions business at RPMI, which manages the 25 billion ($33 billion) Railways Pension Scheme, London, a spokesman said.

The position is new. Mr. Sturgess will be responsible for RPMI's pension administration business beginning in January.

"(Mr. Sturgess) has many years' experience in senior business roles and brings a long career of expertise and knowledge in the pensions and life assurance industry, during which he has been involved in a number of leading-edge pension developments and has been a regular contributor as an industry spokesperson," Babloo Ramamurthy, RPMI's chairman said in a news release.

Mr. Sturgess was previously director, private sector at Equiniti, a financial and administrative services company. A spokesman could not be reached to comment about a replacement.