Pension Funds

RPMI Railpen adds chief fiduciary officer

Michelle Ostermann was named chief fiduciary officer, investments at RPMI Railpen, the manager of the 28 billion ($32 billion) Railways Pensions Scheme, London, a spokesman said.

The position is new. Ms. Ostermann will start Jan.1 and will be responsible for high-level investment and risk strategy of pension funds for the employees of U.K. railways. She will be defining the range of internally managed pooled funds, focusing on sustainable ownership strategy and client relationship management.

"(Ms. Ostermann) brings a wealth of international experience to RPMI Railpen, and her proven track record of leading teams to deliver best practice across the institutional investment industry will be invaluable as we continue to fulfill our mission to pay participants' pensions securely, affordably and sustainably," said Julian Cripps, managing director at RPMI Railpen, in a news release.

Ms. Ostermann previously was senior vice president at the C$145.6 billion ($112 billion) British Columbia Investment Management Corp., Victoria, where she was responsible for leading the corporate and investor relations team. A spokesman could not be reached to comment about a replacement.