Switzerland’s Profond creates CIO role for more in-house control

first_img“We are active in more areas and investing more ourselves,” he added.  “For all these reasons, we decided we need internal co-ordination, which we feel will give us more control.“We felt the progress and changes we want to make can be achieved more easily with our own CIO.”As of the end of December 2015, Profond had around CHF6bn (€5.4bn) in assets under management, compared with less than CHF1.5bn some 10 years ago. The scheme has around 1,800 companies as members.When asked what changes Profond had in mind, Meyer said “there is no master plan as such” but that part of the point of hiring a CIO was to have someone inside the foundation to develop the scheme’s thinking on investment strategy.“The CIO will be the main motor behind this,” he said, adding that a core responsibility would be to oversee the investment process and the related organisational structure.Whether there will be other personnel or organisational changes remains to be seen, Meyer said.“Our focus,” he added, “is to think about substance.” Swiss multi-employer pension scheme Profond has created the position of CIO, with Christina Böck of AXA Investment Managers appointed to the new role.Böck has been at AXA for more than 15 years, most recently as head of solution strategists for Central Europe, and CIO Switzerland at AXA in Zurich.She will join Profond in mid-August, reporting to the board of trustees.Olaf Meyer, head of the board of trustees at Profond, told IPE the decision to hire a CIO was a reflection of the scheme’s growth and its increasingly complex investments.last_img read more

Mixed fortunes for Tipp schools in Harty Cup action

first_imgOur Lady’s will now meet De la Salle in the semi final. They saw off the challenge of Castletroy Community College this afternoon. 1-18 to 3-5 the final score in Toomevara.Meanwhile Nenagh CBS had to give best to De La Salle of Waterford in their quarter final – 13 points to 10 the result from Kilmallock. Also through to the semi-finals are St Colmans of Fermoy and Ard Scoil Ris following wins over CBC Cork and Rochestown respectively.last_img

Do the UNEP and WWF wish to be part of this subterfuge?

first_imgDear Editor,I have noticed a recent release from the Government announcing “Hinterland Consultations on the Green State Development Strategy starts this week”. The release stated that team experts from the GoG’s Department of Environment and the United Nations Environment Programme (UNEP), with the assistance of the World Wildlife Fund Guianas (WWF), will be holding meetings in Regions 1, 2, 7, 8, 9, and 10 between August 16 and September 12, 2018. The schedule of meetings was listed.It is interesting, when one examines the schedule of meetings, that firstly three townships and one NDC which are not in the interior were included, while certain interior locations were omitted. Secondly, the planners of these meetings seem to be unfamiliar with the geography of Guyana, as meetings are not being coordinated to ensure efficient use of time and money incurred in holding these consultations.However, most interesting is that 8 of the 15 identified communities will be going to the polls on November 12, 2018. One wonders if the UNEP and the WWF are aware that these meetings will be part of the Government’s election campaign strategy for the Local Government Elections.From the media, I am aware that the UNEP has been assisting the Government since July 2017 on the Framework of the Green State Development Strategy (GSDS) and Financing Mechanism. l am aware that there is a Green State Development Multi-Stakeholder Expert Group, although the members of this body have not been made public. l am aware that the GSDS, much touted by the Government for the last 3 years, is still to be developed, and that US$ 1.5 million of REDD+ money is funding the completion of the GSDS.I am also aware that not one Government Minister has been able, in the National Assembly or in the media, to articulate the Government’s vision of what the GSDS will contain for Guyana and its people. In fact, ask any Minister what is the GSDS, and one gets a lot of “hot air” and generalities. Worse yet, ask the how the GSDS will mesh with the Sustainable Development Goals (SDGs), and their eyes gloss over.Having abandoned the Low Carbon Development Strategy of the PPPC Government — which had gone through rigorous consultations and dialogue in every interior community and coastal area over a 2-year period, and was brought to the National Assembly and debated — the Government has, over the last three years, failed to hold any consultation at the community level on its Green State Development Strategy.So the readers must forgive me for being cynical that the timing of these consultations on the GSDS is conveniently coincidental with the upcoming LGE on November 12, to allow the Government to use these consultations to do the PNC election work.Do the UNEP and the WWF wish to be part of this subterfuge? I certainly hope not.Regards,Gail Teixeira, MP,last_img read more