Railpen Appoints BNY Mellon To Provide Transformative Data Operating Model
FEBRUARY 29, 2024
Railpen, the fiduciary and investment manager of the U.K. railways’ pension schemes, has appointed BNY Mellon (NYSE:BK), the global financial services company, to provide a cloud-based data platform that simplifies its data architecture and supports the resilience of its operating model. The platform will deliver greater insights from Railpen’s proprietary data for the purpose of investment reporting and generating analytics.
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 U.K.’s largest and longest established pension funds.
"As part of our strategy to optimise and scale our operating model, our collaboration with BNY Mellon is an important step in achieving our objective of delivering the best possible outcomes for our 350,000 members. 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, now and in the future,” said John Robson, Railpen Chief Technology Officer.
As part of the contract, BNY Mellon 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 – replacing a legacy solution.
"For clients looking to data to power their businesses, our 240 years of experience and longstanding focus on developing trusted data infrastructure and analytics tools that address their evolving needs, is helping make investing more effective and easier for them,” said Julie Gerdeman, Global Head of Data & Analytics, BNY Mellon. “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.”
BNY Mellon recognizes the importance of pension funds in the U.K., and across the world, and is committed to developing trusted tools that address evolving needs.
About BNY Mellon
Established in 1784, BNY Mellon is America’s oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon had $47.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management as of December 31, 2023. BNY Mellon has been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.
Media Contacts
BNY Mellon: Jessica.thomas@bnymellon.com
Notes to Editors
Eagle Investment Systems LLC, a wholly-owned subsidiary of BNY Mellon, will provide the cloud-based data platform.