Ciarán Barr to leave RPMI

Ciarán Barr, Investment Director at RPMI, will leave the company during the first half of 2018. Ciarán joined RPMI in 2009. During his time with the company he has held a number of positions, including Head of Strategy and Investment Director.

Ciarán made important contributions to the investment strategy, design and architecture used by the £28 billion Railways Pension Scheme, including the launch of the multi-asset Growth Pooled Fund in 2010. More recently he was integral to shaping the future of the Investment Business during the Investment Transformation Programme which resulted in greater use of internal management, a significant reduction in costs and the expansion of multi-asset strategies into new funds.

John Chilman, Chair of the Railways Pension Trustee Company Limited, said:

"I, and my fellow Trustee Directors, would like to thank Ciarán for the contributions he has made to the success and sustainability of the Railways Pension Scheme. He has always put the interests of our members and employers first and the Scheme has benefited from his thinking."

Ciarán said "It has been a privilege to work with the Railways Pension Scheme. There has been substantial change in the investment design and running of the Scheme during my tenure and I believe it is well placed to meet the challenges of coming years. I wish the Scheme, its members and employers all the best for the future."

Outside of RPMI, Ciarán has recently joined the Board of the Railway Benefit Fund.

Ciaran Barr announcement

RPMI Railpen acquires Thames Wharf Studios, Hammersmith

RPMI Railpen has today announced its acquisition of the freehold interest in Thames Wharf Studios, Hammersmith from London & Regional. The deal represents the first opportunity to purchase the entire complex and its associated freehold in nearly 40 years.

Commenting on the announcement, Anna Rule, Head of Property at RPMI Railpen, said:

“The Thames Wharf complex offers an attractive and compelling investment proposition. In addition, the site has received consent for further development adding to its long-term value and helping us to meet our mission to pay members’ pensions securely, affordably and sustainably.”

Thames Wharf is home to the world-renowned River Cafe restaurant which has recently renewed its commitment to the property via a long-term lease. Set on a one-acre site with rare frontage to the River Thames, the majority of the property comprises office accommodation which was previously occupied as the headquarters of Rogers Stirk Harbour & Partners and has since been multi-let to a variety of office tenants.

Nightingale Partners represented the purchaser and Allsop LLP represented the vendor.

RPMI Railpen acquires Thames Wharf Studios, Hammersmith

RPMI Railpen publishes 2018 global voting policy

RPMI Railpen (Railpen), which manages £28 billion on behalf of the railway pension schemes, has today published its Voting Policy for 2018. The policy update reflects Railpen’s three key themes: board composition & effectiveness, remuneration, and shareholder rights & disclosure. Railpen is a supporter of the International Corporate Governance Network (ICGN), whose Global Governance Principles have been incorporated in the policy.

Leo George, Head of Sustainable Ownership at Railpen, said:

“We have a long history as an active and engaged shareholder. We believe that companies with robust corporate governance structures are more likely to achieve better long-term financial performance, and more effectively manage all of their risks and opportunities. This helps us to achieve our mission to pay members’ pensions securely, affordably and sustainably.”

A key focus of this policy is integrating climate considerations into Railpen’s voting and engagement approach. Railpen supports the Task Force on Climate-related Financial Disclosures (TCFD), published last year, which asks companies to disclose their governance, strategy, risk management and metrics & targets related to climate risk. Railpen wrote to over 200 of its most significant holdings last week to say it encourages all its portfolio companies to provide enhanced corporate disclosure in line with this framework.

Railpen is also a signatory to the CDP and Transition Pathway Initiative (TPI) responsible investment initiatives and will vote against companies who do not respond to their disclosure requests.

RPMI Railpen publishes 2018 global voting policy