Michael Marshall will join RPMI Railpen as head of sustainable ownership, effective in September.
Mr. Marshall will replace Leo George, who will remain at Railpen until the end of the year to ensure a smooth transition, a news release said. Mr. George is leaving to pursue other interests, a spokesman said.
Reporting to Mads Gosvig, chief fiduciary officer-investments, Mr. Marshall will oversee a team that helps to include sustainability considerations across the investment process.
RPMI Railpen manages about £30 billion ($37 billion) in Railways Pension Scheme assets, on behalf of the Railways Pension Trustee Co., London.
Mr. Marshall is director of responsible investment and engagement at LGPS Central, Wolverhampton, England, a local government pension scheme pool. The pool's member pension funds have a collective £45 billion in assets. A spokesman for the pool confirmed that Mr. Marshall is leaving and said executives are looking to replace him.
RPMI Railpen also appointed Caroline Escott as senior investment manager, leading the firm's active ownership work. She will join in September and will oversee engagement with portfolio companies and, where appropriate, will exercise RPMI Railpen's voting rights.
“Although we have had someone in this position before, we have chosen to increase the role’s seniority and are very pleased to have been able to hire someone of Caroline’s experience,” the spokesman said.
Ms. Escott was senior policy lead on investment and stewardship at the Pensions and Lifetime Savings Association, a U.K. retirement trade group. A PLSA spokesman said a search for a replacement is underway.
"At Railpen, we are guided by the investment belief that environmental, social and governance factors materially impact long-term investment returns and must be taken into account," Mr. Gosvig said in the news release. "These appointments further support our commitment to this approach."
A spokesman for RPMI Railpen could not immediately be reached for comment.