RPMI Board

  • Michelle Ostermann

    MD Investments, RPMI Railpen

    Michelle is responsible for the overall management and continuing development of the Railway Pension Scheme’s investment management capability. Her primary focus is to ensure we attract and retain the best possible talent to achieve our long-term investment goals.

    Michelle joined Railpen in January 2019 as Chief Fiduciary Officer and was appointed Managing Director in December 2019. She has 25 years’ experience in the investment, insurance and pension industries. Michelle joined us from British Columbia Investment Management Corporation where she was Senior Vice President Responsible for investment risk, strategy, research, and corporate relations.

    She has a Bachelor of Science degree in Economics and hold a Chartered Financial Analyst designation.

  • Chris Hannon

    Non-Executive Director

    Chris was appointed a director of the Trustee Company following his nomination by Network Rail in 2005, was re-elected in 2012 and then in 2016 was nominated on behalf of the Freight and Support Services Group. In January 2016 Chris was appointed a as a Non-Executive Director of RPMI.

    Chris joined Freightliner Group Limited as their Pensions Director in September 2016, having served for the previous 12 years as Head of Pensions at Network Rail, where he was responsible for the management and operation of its defined benefit and defined contribution pension schemes. He has over 30 years of company pensions experience and, has held management and trustee supporting roles with several private sector employers, including Safeway Supermarkets plc and Thomas Cook Group.
  • Stuart Blackett

    Managing Director, Corporate Services

    A qualified Chartered Accountant by profession, Stuart joined RPMI in 2001 as Scheme Accountant.

    He began his career in Audit and Business Advisory with Arthur Andersen in 1997, having left the University of York with a 1st Class degree in Economics and Business Finance.

    Over the last 20 years, Stuart has built up a wealth of knowledge and experience in corporate and pensions accounting as well as corporate strategy.

    His role now is MD, Group Services, with oversight of Finance, IT, Procurement, Legal and Risk as well as Company Secretariat and Trustee Governance.

    Stuart also holds 2 external roles as the current Vice Chair of Railway Housing Association, based in the North East and Hereford and as Governor on the board of Stockton Riverside College.

  • John Chilman



    John joined as CEO of RPMI, and an Executive Director of Railpen, in June 2019, having previously served for 12 years as a Director of the Railways Pension Scheme Trustee Company, and Chair for the last five years. John is also an Independent Trustee of the Nestlé UK Pension Fund.

    John is a Chartered Accountant by qualification, and was previously Group Head of Pensions at National Grid. Prior to that John held senior financial, commercial and pension positions at a number of large companies, including PricewaterhouseCoopers, South Western Electricity, Shell, HBOS and FirstGroup.

  • Paul Sturgess

    Managing Director Pension Business

    Paul joined RPMI as Managing Director Pension Business in December 2017. He is responsible for RPMI’s pension administration business, Customer Engagement and Technical functions, which count the industry-wide Railways Pension Scheme (RPS) among its clients.

    Since beginning his career with Prudential Corporate Pensions, Paul has gone on to hold a number of senior positions within other leading Pension businesses including: Equiniti; Capita Employee Benefits; FPS Group and Bacon & Woodrow, effectively delivering pension administration services for both private and public sector organisations, as well as leading consulting and actuarial teams.

    Paul brings with him more than 38 years’ experience in the pension industry. He has a wealth of experience in both DB & DC occupational schemes and has been involved in a number of leading-edge pension developments. 

    Paul believes that the current environment is a great opportunity for pension schemes to  engage members properly in their retirement wealth journey through providing more joined-up, sustainable, transparent and cost-effective services.

  • Richard Jones

    Non-Executive Director


    Richard was appointed as a director of the Trustee Company in March 2016.  In January 2017, he was appointed as a Non-Executive Director of RPMI. 

    Richard’s railway career includes engineering, commercial, corporate real estate and general management positions at BRB, Virgin, Alstom and AECOM. He was involved in the leadership and governance of the Scott Wilson Railways (now AECOM) RPS Section for over 10 years.
    Richard is a Chartered Mechanical Engineer, an IoD Chartered Director and MBA graduate, and has non-executive experience with a Police Authority, including leading on pensions matters.


  • Babloo Ramamurthy

    Chair of the Board/Independent Non-Executive Director


    Babloo joined the RPMI Board as an independent Non-Executive Director in February 2014. He is also the current Chairman at B&CE Group and previously had nearly 35 years’ experience with Towers Watson, which specialises in actuarial, investment, risk management and talent and rewards management.

    Babloo was the Managing Director of EMEA for the organisation and a member of its Global Executive Committee.

  • Dave Gott

    Non-Executive Director


    Dave was appointed as a director of the Trustee Company in 2007 and was re-elected in 2012.

    Dave joined British Rail in 1980 and worked in the signalling grades in the Lincoln/Retford areas. He was elected to the BRSF Management Committee in 2001 and elected to the Network Rail Pensions Committee in 2005.

  • Gary Towse

    Non-Executive Director


    Gary joined the British Transport Police in 1974 and served in the South East Area. He was a Committee member of the British Transport Police Superannuation Fund from 1992 to 2006. 

    He was elected the Treasurer of the British Transport Police Federation between 1996 and 2006. Gary was appointed as a director of the Trustee Company in 2004 and re-elected to the post in 2010.