GERMANY – Dirk Lepelmeier, the former managing director responsible for asset management at the Versorgungswerk for doctors in North Rhine-Westphalia (NAEV), has resurfaced as head of what appears to be his own consultancy.

About a month ago, rumours began spreading in German media that Lepelmeier had left his position at the €10bn pension fund – but they remained unconfirmed.

In mid-April, when IPE asked the NAEV whether Lepelmeier still worked at the pension fund, it said he was "tied up in business matters" and that it had no further comment.

IPE has learned he is now working at Lepcam AG in Düsseldorf, which appears to be his own asset management consultancy, judging from the online registry entry.

The web domain under that name had first been registered in 2007, and the company itself founded in 2009.

While at the NAEV, Lepelmeier is credited with having helped the fund overhaul its bond portfolio and adapt its real estate allocation.

Lepelmeier was unavailable for comment.