UK - Railpen Investments, which manages £15bn (€22.6bn) of pension assets for the UK rail industry, has hired a former consultant from Lane Clark & Peacock as senior investment manager.

Railpen said Griff Williams has joined in London to focus on manager search, selection and monitoring. Railpen has 35 external asset managers. He was a senior investment consultant at LCP, which he left in September.

"The combination of Griff's expertise and ambition means he is a good fit for our organisation," said Railpen investment director Brendan Reville. "This is an exciting time for Railpen as we work together to build a fresh, forward-thinking company, and I have no doubt that Griff will be an invaluable asset to our long-term vision."

Williams said: "Our recent move into hedge funds is a typical example of the need to expand our team of fund managers beyond the UK. The £600m portfolio required a widespread search to appoint the right fund mangers to take on the challenge, which eventually led us to the US.

"My aim is to work with the rest of the team in London to drive a similar kind of selection process, ensuring that Railpen continues to build on the already high standard of external fund managers appointed."