mast image

Special Report

Impact investing

Sections

IBM HR chief joins pension trustee board

UK – Computer giant IBM has named Tony Marchak, its head of European human resources, to the board of its pension trustees.

“Following Charlie Morrison’s recent retirement from IBM, Tony Marchak has been appointed to the board,” a statement said. “Charlie was a board director for six years and made a valuable contribution to the workings of the Pension Fund Trustee during this period.”

Marchak joined IBM in 1972 and became VP, human resources, IBM Europe, Middle East and Africa in 2002.

Earlier it emerged that IBM pension members decided not to appeal against a decision in favour of the company made by the Pension Ombudsman in October.

“The deadline for appealing against the Ombudsman's determination has passed and no appeal has been made,” according to the website of the Association of Members of IBM UK Pension Plans.

“An appeal would not have given the complainants a ‘level playing field’ because a determination can only be appealed on a point of law and so some of the limitations of the determination would have carried over to the Court.

“Although their case was strong, and important not only for us but for DB scheme members in general, the small risk of large costs falling on individuals precludes an appeal.”

The members’ complaints had ranged from “an appeal to the consciences of those responsible” to charges that the trustees supplied too little information and that inter-scheme transfers were illegal. Another complaint claimed the trustees were working to a wrong principle.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<