Student body presidential candidates: Neil Joseph and Noemi Ventilla

first_imgWho are they: Neil Joseph, the presidential candidate, is a sophomore from Columbus, Ohio, living in Stanford Hall. He studies political science and economics with a minor in Middle Eastern studies. Currently, Joseph serves as treasurer of the sophomore class and sits on the financial management board, which oversees spending for all campus clubs and student organizations.Noemi Ventilla hails from New York City and resides in Pasquerilla East Hall. The sophomore majors in political science and peace studies and serves as the current sophomore class president.Michael Yu I The Observer First priority: Continuing conversations with students, administrators and faculty. “If we were elected, from Wednesday until April 1 we would continue to meet with students directly because we realize that’s the best way to get good ideas and see what students want and need from student government,” Joseph said. Top priority: Joesph/Ventilla said their biggest overall goal would be ensuring that students have a say in big University  decisions in the future. They hope to establish communciation lines that will last beyond a single year and include more student voices in conversations about topics from Campus Crossroads to the P.E. program. Best idea: As sophomores, Joseph and Ventilla said they would leverage the two years they have left on campus to leave a long-term impact. Ventilla said she believes past administrations would have benefitted from the chance to serve two terms or at least remain on campus after the first term to accomplish long-term goals. After the 2015-16 term, they said they would consider either running for re-election or providing consultation to the next administration. Worst idea: When asked about plans for big issues facing campus such as sexual assault or diversity and inclusion, Joseph/Ventilla repeatedly brought up the new P.E. program as an opportunity to address these concerns in a classroom setting. While it’s true that the new structure of P.E. provides an opporunity to broaden the scope of required sexual assault prevention education for students, that alone cannot suffice as a plan to deal with the broader question of how to prevent and respond to incidents on campus.Most feasible: Joseph/Ventilla’s suggestions for improving the quad markets that began this year are specific and relatively simple. They would like to give student vendors a chance to sell items alongside the South Bend representatives, and their suggestion to use the markets as an opportunity for networking and engagement with South Bend businesses seems like a good step toward improving relations between Notre Dame and the community beyond.Least feasible: The pair admitted they “have heard from the administration that it’s not feasible” to change the dining hall setup, and yet they emphasized it as a major part of their platform. Adding take-out boxes to carry out dining hall food would be detrimental to the communal meal-sharing experience that is a hallmark of life on campus. Furthermore, the suggestion that leftover meal swipes be transformed into flex points seems highly unlikely. Notable quote: “Although we both come from a programming background, we have both been on the administrative and policy side of things too. That really informed our decision to run, because as much as we love the programming side, the changes we wanted to see and do were only possible on the policy side.” — VentillaFun facts: Joseph has visited the world’s tallest building, the Burj Khalifa in Dubai. Ventilla was born in Hungary before she moved to New York City as a child. Bottom line: Joseph and Ventilla have worked closely together on two class councils, and they make a very charismatic and compelling team. However, their proposals seem largely shortsighted and fail to take into account the bigger cultural and social issues that  students have come to expect action on. They have a keen sense of the potential for change on campus in the coming year but do not seem to have fully developed their big picture plans.last_img read more

APG CEO confirms costs as focus of Dutch giants’ co-operation idea

first_imgThe joint investigation by the five largest Dutch pension funds into co-operation on pensions provision is focusing on costs reduction, said Gerard van Olphen, chief executive of APG, the provider and asset manager for pension funds ABP and BpfBouw.Speaking to IPE, he said that the five players – representing €833bn of assets and 8.7m workers and pensioners – wanted to achieve this goal through increased efficiency and scale as well as by setting standards that could be applied by the entire sector.The investigation – revealed in APG’s annual report for 2019 – would, for example, look into the options of setting standards for collecting pension contributions as well as paying benefits, said Van Olphen, who cited banks and insurers as examples.“The five schemes also want to establish the impact of co-operation on their current exemption from paying VAT,” he added. According to Van Olphen, co-operation could lead to a single organisation for administration being set up. Gerard van Olphen, chief executive of APG“However, if it turns out that joining forces will generate insufficient added value, co-operation doesn’t make sense,” he emphasised.APG’s CEO said that the five pension funds, which also include healthcare pension fund PFZW and the metal sector schemes PMT and PME, expected to assess proposals within a few months.PFZW has PGGM as its provider, while the metal schemes share MN for their pensions administration.New clients welcomeSeparately, Van Olphen further said that APG would like to welcome new pension fund clients, for administration and/or asset management in order to increase scale and reduce costs.“However, they must have sufficient scale, add value and not have complicated pension arrangements,” he said. “And although we can offer any mix of services, new clients can’t pick and choose certain parts of it.”Van Olphen made clear that APG would prioritise taking in pension funds in sectors related to its current clients. He said that almost 10 pension funds had already contacted APG. “Some are seeking a new provider, others want a costs reduction or a change of pension arrangements,” he said That said, APG’s CEO highlighted that, given the current COVID-19 situation, potential clients were very careful and likely to avoid commitments at the moment. Last year, APG sold its income insurance subsidiary Loyalis to insurer ASR in a drive to focus on its core task of pensions.It said it had simplified its pensions administration as a result of 40,000 military staff at ABP switching from final salary arrangements to an average salary plan.Overall returns of 17.3% APG said it returned 17.3% on investment for its eight pension fund clients last year, an underperformance of 151 basis points. It largely attributed this to disappointing results from smart beta and liquid investments. It added that investments had underperformed for the first time in 10 years, and that the benchmark had been exceeded by 56 bps in the past 5 years. APG further said that it had extended its co-operation with Chinese investment management firm E Fund Management by also starting to invest in Chinese credit. It had already taken stakes in A-shares.The annual report also revealed that, in order to increase the impact of engagement with companies on responsible investment, APG had set up an “inclusion board” – comprising its various investment teams – to streamline investment decisions.center_img Staff and variable pay increasesAPG has been recruiting more staff for its asset management operations, with around half of the targeted 100 individuals earmarked for its Hong Kong and New York offices. A spokesperson said that the provider was about halfway through the hiring.  Last year, the asset manager employed 835 workers, 191 of whom were located abroad. In its annual report, APG said that to boost its net results it wanted to increase (direct) investments in infrastructure, and extend its co-operation with international partners, including the Guangzhou-based asset manager E Fund Management.Ronald Wuijster, head of asset management, said that the overseas offices provided access to markets with attractive returns. More staff were required because of the planned extension of investments in real estate as well as infrastructure, “more labour intensive asset classes with better perspectives for long term returns”, he said.On the pension fund’s website Wuijster defended the rise of variable pay – from €31.1m to €40.4m – for its asset managers despite last year’s underperformance.He pointed out that the bonus criteria were aimed at performance over a five-year period, and that half of the variable pay was based on “non-financial” achievements, such as individual and team development. The CIO added that the increased number of staff in Hong Kong and New York, “where performance has been above average”, had contributed to the pay rise.last_img read more