RMPI Railpen Selects Northern Trust for Investment Operations Outsourcing

Northern Trust will provide trade matching, derivative processing and life-cycle management, active collateral management and book of record services.

canary-wharf-skyline-2-london-uk-oct-2012
RPMI is headquartered in London.

RMPI Railpen, the in-house asset manager for Railways Pension Scheme, announced Northern Trust will handle investment operations outsourcing for the UK-based pension fund.

Northern Trust will take care of trade matching, derivative processing and life-cycle management, active collateral management and book of record services.

"Over the last 18 months RPMI Railpen has undertaken a strategically important investment transformation program, part of which required the development of in-house management as one of our implementation models, where previously we had relied almost exclusively on external investment managers," said Nicola Dymond, COO of investments at RPMI Railpen, in a statement. "The in-house model allows us to reduce implementation costs and ultimately return value to the scheme and members. As part of this, Northern Trust gives us timely access to operational scale and breadth of capability without the associated capital expenditure."

RPMI Railpen's decision strengthens Northern Trust's position among pension funds in the UK. Currently, the firm provides services to six of the top 10 pension funds in the UK, totaling more than £240 billion in assets under management, or one-fifth of the entire UK pensions market.

 

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