Michelle Ostermann resigned as managing director at RPMI Railpen, the in-house investment manager for the railways pension schemes, effective Jan. 1, a spokesman confirmed.
Ms. Ostermann has led the investments business since December 2019. Her responsibilities will be managed temporarily by the investment executive committee, which reports to John Chilman, CEO of RPMI. Ms. Ostermann will remain at Railpen until May 31. Details of her successor will be announced in due course, according to a news release on Dec. 30.
"Michelle built a high-quality leadership team with a clear vision and strategy that will continue to successfully invest on behalf of our members. We wish her the very best in her future career," Mr. Chilman said in the release.
RPMI Railpen manages about £30 billion ($40.7 billion) in Railways Pension Scheme assets, on behalf of the Railways Pension Trustee Co., London.