Royal Mail Pension Plan (RMPP, the Plan, which manages circa £10 billion of assets on behalf of over 123,000 members across the UK, confirms the appointment of Michael Airey as Chief Executive Officer. He has taken up the role replacing Richard Law-Deeks who stepped down in June after six years in the role.
With more than a decade of specialist experience in the pensions industry, Michael has served as Head of Actuarial at RMPP since 2019, and more recently as Head of Funding and Investment following the outsourcing of OCIO services to Blackrock in 2023. Prior to this, Michael was a Plan Secretary for the Senior Executive Plan at Royal Mail Pension Trustees and has worked on a range of projects on both Post Office and Royal Mail sections of the Plan. Before joining the Plan in 2016, Michael worked at Willis Towers Watson as an Actuarial Consultant and is a Fellow of the Institute of Actuaries.
Commenting on the appointment, Joanna Matthews, Chair, Royal Mail Pensions Trustees Limited, said:
“Michael understands the demands and challenges that the plan faces, having worked with the Trustee executive over the past 8 years. This means his is well-placed to build on what has been achieved so far and maintain our momentum. I look forward to working with him in 2024 and beyond.
“On behalf of the Trustee, I would also like to thank Richard Law-Deeks for his considered stewardship during his tenure as CEO. He leaves the Plan in good health and can be very proud of the strong team he leaves in place.”
Commenting on his appointment as CEO, Michael Airey said:
“It is a real privilege to lead the Plan in this next and important chapter, continuing the great work of Richard and the team. I look forward to working closely with Joanna, the trustees, and the sponsors to ensure the interests of our members remain well-served regardless of the prevailing economic and external environment.”
