Railpen, the fiduciary and investment manager of the UK railways’ pension schemes, has appointed BNY Mellon to provide a data operating model.
BNY Mellon’s cloud-based data platform aims to deliver insights from Railpen’s proprietary data for the purpose of investment reporting and generating analytics. The bank will provide the railways pension schemes with additional services including custody, investment accounting and front-office support solutions for Railpen’s public and private assets.
Railpen is responsible for the safekeeping and investment of around £34 billion in assets for the 350,000 members of the railways pension schemes, one of the UK’s longest established pension funds.
John Robson, chief technology officer of Railpen, comments: "BNY Mellon’s data operating platform will help enhance the resilience of Railpen’s investment and functional teams, providing a greater ability to analyse and incorporate new data feeds and prepare us to benefit from innovations.”
Julie Gerdeman, global head of data and analytics at BNY Mellon, adds: “Providing greater insights will help Railpen deliver on its commitment to its members across the investment lifecycle, as well as strengthen its risk management and governance practices.”
