Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Railways Pension Trustee Company - which runs the railway pension schemes through its subsidiaries RPMI and RPMI Railpen - said the process of appointing a new chief executive would now begin, supported by RPMI chairman Babloo Ramamurthy.
Willcock had begun work at RPMI at the begining of this year - joining from Aviva, where he had been, most recently, chief executive of Aviva Italy.
Commentating on Willcock's departure, Ramamurthy said: "We will be seeking to recruit a high calibre successor who will help deliver RPMI's mission of paying members' pensions securely, affordably and sustainably and provide support to the trustee of the Railways Pension Scheme."
Former Work and Pensions Committee (WPC) chairman Frank Field, 30% Club founder Dame Helena Morrissey, and Union Pension Services director Bryn Davies have been nominated for life peerages.
Baroness Nicky Morgan has been appointed as a non-executive director of the board of the Financial Services Compensation Scheme (FSCS) alongside Cathryn Riley and Wendy Williams.
Michael Eakins has been appointed as chief investment officer (CIO) at Phoenix Group, subject to regulatory approval and completion of the acquisition of ReAssure.
Nikhil Rathi has been appointed as chief executive of the Financial Conduct Authority (FCA) following Andrew Bailey’s move to the Bank of England as governor earlier this year.