RPMI Railpen, the asset management arm of UK-based Railways Pension Scheme, has named Michelle Ostermann as managing director of its investments business.
She will take up the role following the retirement of Julian Cripps this month.
In her new role, Ostermann will lead the investments business as it manages the railways pension fund’s £30 billion (€32bn) in assets.
In a statement Ostermann said: “Defined benefit pension schemes, like the railways pension schemes, have an important role to play in ensuring members enjoy the financial security in retirement they work hard to save for with their employers.”
Ostermann joined the investments business at the start of this year as chief fiduciary officer with responsibility for determining the schemes’ investment requirements and risk strategies. She was also appointed to the RPMI board in September.
She has previously worked at British Columbia Investment Management Corporation where she was senior vice president responsible for investment risk, strategy, research and corporate relations.
John Chilman, chief executive officer, said that Ostermann’s international experience and track record of delivering outstanding results in the institutional investment industry ”means she is perfectly suited to lead the Investments business”.
RPMI is now actively recruiting for a replacement for Ostermann in the chief fiduciary officer role.