Richard Swart was named head of investment risk at RPMI Railpen, London, a spokesman said.
The position is new. Mr. Swart is responsible for leading and developing the £30 billion ($38.5 billion) pension fund's investment risk function and integrating risk management support into the investment teams.
"(Mr. Swart) brings a wealth of experience and insight to Railpen, which will both strengthen our existing investment risk function and further enhance our broader investment capabilities," said Michelle Ostermann, managing director, investments, in a news release. "I look forward to working with (him) as we continue to deliver on our mission to pay members' pensions securely, affordably and sustainably."
Mr. Swart was previously principal risk manager at PGGM, the manager of the €216.6 billion ($238.6 billion) Stichting Pensioenfonds Zorg en Welzijn, Zeist, Netherlands. Details about his replacement could not be learned.