The UK’s biggest pension pension scheme has appointed Dominic Gibb as its new chief financial officer.Gibb joins the Universities Superannuation Scheme (USS) from Lehman Brothers, where he had worked with PricewaterhouseCoopers on the winding up of the UK operations of the failed US investment bank. He was financial controller for Europe, the Middle East and Africa for the bank before its collapse in 2008.Gibb replaces Jennifer Halliday, who resigned from USS on 31 March 2017.His appointment was announced as the £60bn (€68.4bn) scheme faces an uncertain future. The Universities and Colleges Union (UCU) today said its members had voted in favour of strike action in a dispute over changes to USS’ benefit payments. Universities UK (UUK), the representative organisation for higher education employers, wants to switch the scheme from defined benefit to defined contribution in an effort to control rising contribution costs.University staff vote for strike actionNearly all of the UK’s universities face disruption next month after staff voted for strike action. On a turnout of 58% of its members, the UCU said 88% had backed a walkout, which would affect 61 of the country’s 68 higher education institutions.UCU general secretary Sally Hunt said: “Universities will be hit with levels of strike action not seen before on UK campuses if a deal cannot be done over the future of USS pensions. Members have made it quite clear they are prepared to take action to defend their pensions and the universities need to work with us to avoid widespread disruption.“Even at this late stage we urge universities to work with us to reach an agreement that protects the defined benefit element of USS pensions.”In response, a UUK spokesperson described the ballot result as “disappointing”, and said that not reforming the scheme would be ”a dangerous gamble”. The spokesperson added: “A solution to the significant funding challenges facing USS needs to be found. UUK’s priority is to put USS on a secure and sustainable footing while offering attractive, market-leading pensions – the very best that can be afforded by both employers and employees.” USS reported an official deficit of around £5bn following its 2017 actuarial valuation, but other valuations have put the shortfall as high as £12bn-£17bn. It said the cost of funding future pension benefits had increased by 35% and that contribution increases of six to seven percentage points could be required.Public pension pool hires ex-Nestle investment chiefLGPS Central, the asset manager set up to run £42bn of assets for nine local government pension schemes (LGPS), has named Duncan Sanford as interim deputy CIO.Sanford left Nestlé Capital Management last year after a restructuring led to the international food and drink company shutting down much of its internal investment operations.LGPS Central has also hired two staff from the West Midlands Pension Fund (WMPF), one of the founder members of the asset pool. Mike Hardwick has joined as investment director for infrastructure and property, having most recently run alternatives at WMPF, while Michael Marshall is set to join as director for responsible investment and engagement. He is currently the responsible investment officer at WMPF.Finally, Omar Ghafur has joined as investment director for private equity. He was previously in charge of private investments for a charitable foundation, according to a press release from LGPS Central.Jason Fletcher, CIO, said the appointments were “critical to our delivery of the risk-adjusted return after costs that our partner funds require to meet their future commitments”.LGPS Central announced on Friday that it planned to roll out 10 investment vehicles for its pension fund clients.Investment director exits RailpenCiarán Barr, investment director at RPMI Railpen, is to leave the multi-employer scheme for the railways industry later this year.RPMI Railpen announced on Friday that Barr would step down from the investment team during the first half of 2018, having worked at the group for nearly nine years.During his tenure Barr oversaw the transformation of RPMI Railpen’s investment strategy alongside fellow investment directors Paul Bishop and Richard Williams and former CEO Chris Hitchen.The departure is the latest in a series of senior staff changes at the railway industry scheme. Chris Hitchen stepped down as CEO last year and is now overseeing the creation of the Border to Coast Pension Partnership as chairman. Philip Willcock will take over as CEO next month.Paul Sturgess joined last year from Equiniti as managing director for its administration arm, while deputy CEO David Maddison became managing director for the scheme, tasked with leading support for the trustee board. Julian Cripps was appointed managing director responsible for the investment arm in 2016.John Chilman, chair of Railpen’s trustee board, said: “I, and my fellow trustee directors, would like to thank Ciarán for the contributions he has made to the success and sustainability of the Railways Pension Scheme. He has always put the interests of our members and employers first and the scheme has benefited from his thinking.”
For television information go to:http://www.tsn.ca/canadian_hockey/feature/?id=4385Kinrade, Team Canada one win away from Spengler Cup titleChip off a little rust and what did we find — plenty of offence from Team Canada at the 2012 Spengler Cup.Matt Duchene scored twice and added an assist as Team Canada criused to a 5-1 semi-final victory over HC Fribourg on Sunday in Davos, Switzerland.Since Canada lost its first game of the tournament to German team Adler Mannheim on Boxing Day the squad had outscored the opposition 10-1 in two games.Jason Spezza, Marc-Antoine Pouliot and Carlo Colaiacovo also scored for the Canadians, who feature Nelson Minor Hockey grad Geoff Kinrade on the blueline.The 27-year-old Kinrade has been tabbed by national media as one of the no-names on the roster that features the likes of NHLers like Spezza, Patrice Bergeron, John Tavares, Tyler Seguin, Jonathan Bernier, Carlo Colaiacovo, Devan Dubnyk, Sam Gagner, Matt Duchene, Cam Barker and Ryan Smyth.Kinrade, who played for the Nelson Leafs of the Kootenay International Junior Hockey League after a great minor hockey career, was invited to the roster by Hockey Canada due to a shortage of Canadian defencemen playing in Switzerland this winter, which benefits Kinrade, Maxim Noreau and Travis Roche.And the players have not let the coaching staff, or teammates, down, playing solid minutes.”It’s a dream come true,” Kinrade, who plays for SC Bern of the Swiss Nationaliga told Tim Wharnsby of Hockey Night in Canada.”In my career, I’ve bloomed late. When I was eligible for the Canadian under-20 team I wasn’t even close. But to be part of this team the last few days has been surreal.”Devan Dubnyk, in his second straight start, made 25 saves to register the win in goal for Canada.Team Canada, an 11-time winner of the Spengler Cup, advances to the championship against the winner of Sunday’s late game between host HC Davos and Vitkovice Steel.TSN is scheduled to televise the Spengler Cup Final Monday (December 31) at 3 p.m. PST.See complete television schedule at:http://www.hockeycanada.ca/index.php/ci_id/197934/la_id/1.htm Team Canada made it look easy in the final of the Spengler Cup Monday, dumping the host club and defending champion HC Davos 7-2 to capture the title for the 12th time.Canada’s Patrice Bergeron, finishing the game with four points, scored 46 seconds into the game and Canada never looked back.It was Canada’s first Spengler Cup title since 2007.John Tavares and Team Canada captain Ryan Smyth each scored twice while Jason Spezza and Derrick Walser added singles for the winners.Raphael Diaz and Dario Bürgler replied for HC Davos.Canada outshot the hosts 39-30 making a winner out of netminder Devan Dubnyk — his third consecutive victory in the tournament.The Team Canada roster included Nelson native Geoff Kinrade who keyed a defence that allowed five goals in four games and outscored its opponents 17-3 during the final three games.Team Canada meets HC Davos in final of Spengler CupTeam Canada has a date with the defending champs in the final of the 2012 Spengler Cup.The host club edged HC Vitkovice Steel 5-4 in the second semi final Sunday in Davos, Switzerland.The game is a rematch of an early round robin contest between the two teams, a game won 5-0 by Team Canada.Patrick Kane scored in the final minute of regulation time to give HC Davos the thrilling victory.HC Davos is the defending champion.Canada is an 11-time winner of the Spengler Cup Tournament.