Royal Mail Pension Plan Appoints BlackRock for OCIO Mandate

Posted on 02/03/2023

London-based Royal Mail Pension Plan appointed BlackRock Inc. to be its outsourced chief investment officer (OCIO). The pension has £8.8 billion in assets under management. The pension moved three investment staff, including the CIO Ian McKnight to BlackRock. McKnight and the legacy investment team has been incorporated into BlackRock’s multi-asset solutions function.

The OCIO move is ahead of Royal Mail’s collective defined contribution plan which is being launched to replace a defined benefit cash balance plan as well as the postal group’s existing defined contribution plan.

BlackRock already managed the majority of the Royal Mail Pension Plan assets.

Keywords: Royal Mail Pensions Trustees Limited.

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