An investment director at RPMI, who was integral to a restructuring that led the manager of the UK's £28bn Railways Pension Scheme to bring more money in-house, is to leave in the coming months.

News of the departure of Ciarán Barr comes a year after RPMI appointed Julian Cripps to lead its investment business. Barr, along with the other two investment directors, Paul Bishop and Richard Williams, report to him.