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Jersey Teachers Superannuation Fund: Board of Management: Nomination

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A decision made 28 September 2012:

Decision reference: MD-C-2012-0094

Decision Summary Title :

Jersey Teachers’ Superannuation Fund – Board of Management Nomination

Date of Decision Summary:

25th September 2012

Decision Summary Author:

 

Project Director - Pensions

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Jersey Teachers’ Superannuation Fund – Board of Management Nomination

Date of Written Report:

25th September 2012

Written Report Author:

Projects Director - Pensions

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject: Jersey Teachers’ Superannuation Fund – Board of Management Nomination

Decision(s):  The Chief Minister approved the appointment of Mr Daniel F.J. Thebault to the Jersey Teachers’ Superannuation Fund Management Board following the resignation of Mr. Mick Pinel, to act as a representative for the Employers side until 31st December 2012.

Reason(s) for Decision: Article 3 of the Teachers’ Superannuation Fund (Administration) (Jersey) Order 2007 makes provision for the Chief Minister to appoint 6 employer representatives to be members of the Management Board, of whom -  

 

(i)   2 shall be persons recommended by the Minister for Treasury and Resources,

(ii)  2 shall be persons recommended by the Minister for Education, Sport and Culture, and

(iii) 2 shall be persons that the Chief Minister thinks fit, and

 

6 member representatives, who shall have been selected in the manner that the Chief Minister shall agree with associations that appear to the Minister for Education, Sport & Culture to represent the interests of teachers.

 

Mr Thebault applied for the position as the result of an advertisement in the Jersey Evening Post and was selected following a recruitment process.

 

This appointment is made under (iii) above. The current term of office for the Management Board finishes 31st December 2012 and members can be re-elected.

Resource Implications: There are no resources implications.

Action required: Project and Research Officer to advise the Projects Director – Pensions, of the Chief Minister’s decision.

Signature:

 

 

Position:

 

Senator I.J. Gorst

Chief Minister

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

Jersey Teachers Superannuation Fund: Board of Management: Nomination

 

 

CHIEF MINISTER

 

Jersey teachers’ superannuation fund – board of

 

management nominations

 

  1.   Purpose of Report

The Chief Minister is asked to approve a nomination to the Board of Management of the Jersey Teachers’ Superannuation Fund.

 

  1.   Background

Article 3 of the Teachers’ Superannuation (Administration) (Jersey) Order 2007 requires the following – that membership of the Board of Management consists of twelve representatives in total, two to be recommended by the Chief Minister, two by the Minister for Treasury and Resources, and two by the Minister of Education, Sport and Culture whilst the remaining six are nominated by the relevant teacher’s representative bodies.

 

  1. Comments

The following nominee has been nominated following a recruitment and selection process on behalf of the Chief Minister.

 

Mr Daniel Thebault – a Jerseyman, after studying to a post graduate level at Imperial College of Science and Technology, Mr Thebault joined a major International bank and spent much of the next 15 years in management roles in different parts of Africa, Central America and Europe. He returned to Jersey to join Hambros Bank and over the next 15 years was part of its senior management team, gaining further extensive investment experience on the international front and as a director of the banks fund management business.

 

Since retiring in 2003, Mr Thebault has undertaken various local and overseas consultancy assignments, worked with the investment arm of the major Austrian Bank Raiffeisen, and more recently, a boutique corporate high yield bond manager from New York. He also periodically lectures on cruise ships”

         

  1. Recommendation

That the Chief Minister agrees the above nominee has the requisite experience, skills and background to act in the capacity of representatives on the Jersey Teachers’ Superannuation Fund Board of Management and approves the nomination accordingly.

 

Treasury and Resources Department

MB/TRY/PENS

24.09.12

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