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RPMI Railpen hires from Canada for chief fiduciary officer position

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RPMI Railpen, the in-house manager of the industry-wide scheme for UK railway companies, has appointed Michelle Ostermann to the new role of chief fiduciary officer for investments.

Ostermann will join the manager in January next year. She will be responsible for determining the £28bn (€32bn) railway pension scheme’s high-level investment strategy and risk appetite, as well as defining the range of internally managed pooled funds.

The manager said she would work closely with the investment, funding and covenant teams in proposing tailored solutions for the multi-employer sectionalised schemes.

She will also be responsible for the manager’s sustainable ownership strategy and client relationship management.

Ostermann will join from British Columbia Investment Management, where most recently she was senior vice president, corporate and investor relations. From 2013 to June 2017 she was senior VP for investment risk, strategy and research at the Canadian asset manager. She has also held senior positions at Manulife and Sun Life Global Investments, and is the vice chair of the board of directors of the Pension Investment Association of Canada.

Julian Cripps, managing director at RPMI Railpen, said: “Michelle brings a wealth of international experience to RPMI Railpen and her proven track record of leading teams to deliver best practice across the institutional investment industry will be invaluable as we continue to fulfil our mission to pay members’ pensions securely, affordably and sustainably.”

Ostermann is the latest appointee to the UK pension investor’s leadership team. Earlier this year Railpen appointed its first chief investment officer and head of private markets, positions that were filled internally. In February, Philip Willcock replaced Chris Hitchen as CEO.

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