Three members of the Charities Advisory Committee have had their appointments extended.
The Committee is responsible for guiding the Department’s investment policy for the Northern Ireland Central Investment Fund for Charities.
The term of appointment of Mr Lindsay Todd has been extended from 1 August 2017 to 30 September 2018. Mr Todd has been a member of the Charities Advisory Committee since 1 August 2014.
Mr David Murphy and Mr Jeremy Stewart have also had their terms of appointment extended from 1 September 2017 to 30 September 2018. They have been members of the Charities Advisory Committee since 1 September 2016.
Notes to editors:
1. The Northern Ireland Central Investment Fund for Charities was set up in March 1965 as a result of the Charities Act (NI) 1964. The Fund aims to give trustees the opportunity to invest all or part of their assets with the benefit of expert supervision. Recognised fund managers (currently Standard Life Wealth) are responsible for the day to day management of the actual portfolio, but the funds investment policy is guided by an Advisory Committee. The Fund operates much as a Unit Trust. Participating charities pool their resources and are given a proportionate number of shares in the Fund based on the most recent valuation
2. The extensions to the terms of appointment have been made in accordance with the Commissioner for Public Appointments for NI (CPA NI) Code of Practice
3. All appointments are made on merit and political activity plays no part in the selection process. However, CPA NI requires the political activity of appointees to be published
4. The Charities Advisory Committee comprises a non-executive Chair and three non-executive members. All positions are not remunerated but attract travel allowances
5. Biographical details of appointees:
Mr David Murphy
Mr Murphy is a Fellow of the Institute of Chartered Accountants with 25 years experience of public sector finances include strategic planning, service delivery, financial and investment management, preparation of accounts, compliance with Managing Public Money and risk management. He is the Chief Executive (Accounting Officer) of the Northern Ireland Local Government Officers' Superannuation Committee which manages Northern Ireland's largest investment fund and provides pension services to over 118,000 members. He holds no other public appointments and has not undertaken any political activity in the past five years
Mr Jeremy Stewart
Mr Stewart has worked for 29 years in UK regulated investment businesses, in a range of roles. He has served on the Executive Committee of a local bank, with leadership responsibility for investment advice, share dealing service, discretionary portfolio management and development and implementation of new investment management and advice policies and governance procedures. He has previously chaired the Trustee Investment Committee for the UK DC Pension Fund of a UK bank. Mr Stewart is a Fellow of the Institute of Bankers and also has an MBA from the University of Ulster. Investment qualifications include the CII Certificate in Financial Planning and a number of examinations for the Diploma in Regulated Financial Planning. Mr Stewart is a non-Executive Director of the Business Service Organisation, Department of Health for which he receives £5,402 per annum. He holds no other public appointments and has declared that during the last 5 years he has canvassed for the Alliance Party in the N.I Assembly elections
Mr Lindsay Todd
Mr Todd has lengthy investment experience and was, until his retirement, a partner in a leading international professional services firm. He currently serves on the NI Judicial Appointments Commission for which he receives £294 per day, is a Committee member of the NI Local Government Officers Superannuation Committee for which he receives £119 per day, is a trustee of a leading charity and is also a school governor. He is also a member of the Investment Committee at Queen’s University Belfast together with the Disciplinary Panel of the Chartered Accountants Regulatory Board in Ireland. He holds no other public appointments and has not undertaken any political activity in the past five years
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