RPMI has appointed Michelle Ostermann as Managing Director of its Investments business. Michelle will take up the role following the retirement of Julian Cripps in December 2019.

As Managing Director, Michelle will lead the Investments business as it manages the £30 billion of assets for the railways pension schemes to continue to meet the commitments made to the schemes’ 350,000 members.

Michelle 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. Michelle was also appointed to the RPMI Board in September 2019.

Before joining, Michelle worked at British Columbia Investment Management Corporation where she was Senior Vice President responsible for investment risk, strategy, research and corporate relations. She has 25 years’ experience in the investment, insurance and pension industries.

Chief Executive John Chilman said:

“Michelle’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.

“Her work this year as Chief Fiduciary Officer has shown she will be invaluable in helping us to continue to meet our mission to pay our members’ pensions securely, affordably and sustainably.”

Managing Director, Investments Michelle Ostermann added:

“RPMI has a huge responsibility to fulfil the trust that our members place in us, so to be able to build upon Julian’s excellent work and lead this business is a great honour.

“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.”