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Railpen CEO Chris Hitchen to leave

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first_imgIn recent years, Hitchen oversaw a major overhaul of RPMI’s investment structure, establishing an in-house investment team as part of an “investment transformation programme” (ITP). The scheme has also undergone a forensic review of investment costs, resulting in significant savings.Hitchen said: “ITP was a fantastically worthwhile and inspiring programme, which was necessary for us to meet our mission of paying members’ pensions securely, affordably and sustainably in a low-return world. It has been an honour to serve the needs of one-third of a million railway workers and their employers.”Earlier this year Julian Cripps was appointed director of investment business at RPMI Railpen as part of the succession plan. The group’s three investment directors – Ciarán Barr, Paul Bishop, and Richard Williams – now report to Cripps, rather than Hitchen.Hitchen is an influential figure in the UK pensions sector. He chaired the National Association of Pension Funds, now the Pensions and Lifetime Savings Association, from 2007 to 2009, as part of a decade-long tenure with the trade body.During that time he helped establish the Pensions Quality Mark, a kitemark standard for UK defined contribution (DC) funds.In addition, Hitchen was a trustee of NEST, the government’s defined contribution master trust, from 2010 to 2015, and chaired its investment committee for three years.John Chilman, chair of the Railways Pension Trustee Company, said: “I and my fellow Trustee Directors would like to thank Chris for the exceptional service he has given to the railways pension schemes over some nineteen years.“We respect his desire for a fresh challenge and will be announcing our plans for the future leadership of the organisation shortly.” Chris Hitchen is to step down from his role as CEO of RPMI Railpen “within the next year”, the UK pension fund has announced.Hitchen has led the industry-wide scheme for UK railway companies for 13 years, having first joined the group nearly 20 years ago.“I have for some time been working with senior stakeholders on a succession plan for RPMI, and now is the right time to put it into effect,” Hitchen said. “I am confident that I am leaving the organisation, and members’ pensions, in very safe hands.”He joined the now-£25bn (€28.7bn) scheme in 1998 as an investment director. He became CEO in 2004.last_img read more

Pakistan success sees Windies World Cup hopes fade further

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first_imgLONDON, England (CMC) – Any hopes West Indies harboured of overhauling Pakistan and clinching the crucial eighth spot in the International Cricket Council (ICC) one-day rankings have all but disappeared as the Asian side have surged to sixth position following their capture of the ICC Champions Trophy here Sunday.In the latest rankings released yesterday by cricket’s world governing body, Pakistan gained four points to jump from eighth to sixth on 95 points, now ahead of seventh-placed Bangladesh on 94 and Sri Lanka, who have slipped to eighth on 93 points.Pakistan, who had lingered at eighth in the world rankings in recent times, convincingly beat powerhouse India in the final at the Oval by 180 runs to lift the title regarded as the mini World Cup.With the success, Pakistan have further enhanced their chances of automatic qualification for the 2019 World Cup in England while West Indies slipped further behind in their quest to also seal a direct spot at the tournament.Ironically, Pakistan had edged West Indies for the final spot in the Champions Trophy because of their eighth place ranking.West Indies remain in ninth spot on 77 points in the latest rankings following a disappointing 1-1 draw in the recent three-match series against ICC Associate side Afghanistan.They are now faced with the task of closing a 16-point gap on Sri Lanka by the September 30 cut-off date for automatic qualification for the World Cup. Hosts England and the remaining top seven sides in the rankings by that date will earn automatic qualification.The Windies face India in a five-match series starting Friday at Queen’s Park Oval in Trinidad and take on fourth-ranked England in another five-match series in September.If they lose these series and subsequently fail to qualify automatically, the Caribbean side will enter a 10-team qualifier scheduled for next year, to determine the final two World Cup berths.South Africa have retained top spot in the newest rankings on 119 points, two ratings points ahead of Australia with India lying one point back in third.Latest ICC One-Day International rankings:1. South Africa 1192. Australia 1173. India 116 (-1)4. England 113 (-1)5. New Zealand 1116. Pakistan 95 (+4)7. Bangladesh 94 (-1)8. Sri Lanka 939. West Indies 7710. Afghanistan 5411. Zimbabwe 4612. Ireland 41last_img read more

Alapag on Alab’s poor first half: ‘It needs to be a 40-minute effort’

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first_imgDon’t miss out on the latest news and information. Aside from World Imports Reggie Okosa and Ivan Johnson as well as veteran guard Josh Urbiztondo, contributions have been few for Alab in the first half.Hong Kong slowly pulled away and even took a 15-point lead, 63-48, early in the third quarter.FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSBack on the throne“Us having 15 turnovers and giving Hong Kong 23 turnover points in the first half put us in a pretty big hole,” lamented Alapag.“A lot of these guys with PBA experience are used to 48 minutes. In a 40-minute game, it’s really important that you work at a much more efficient rate.” View comments Jake says relationship with Shaina ‘goes beyond physical attraction’ OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Kiss-and-tell matinee idol’s conquests: True stories or tall tales? Jo Koy: My brain always wants to think funny LATEST STORIES Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scene Tanduay Alab Pilipinas head coach Jimmy Alapag. Photo by Randolph B. LeongsonAlab Pilipinas got off to a poor start and that ultimately caused its downfall in a close 92-89 defeat to Hong Kong Eastern Sports Club on Sunday in the 2018 Asean Basketball League.“I think it was really a tale of two halves. In the first half, we had 15 turnovers, but in the second half, we only had three. I think if we would have played with the sense of urgency like we did in the second half in the first half, I think the outcome could have been different,” said Alapag, who made his head coaching debut.ADVERTISEMENT Bobby Ray Parks Jr. did pick up the slack in the second half to lead Alab’s belated rally. That effort was a welcome sight for Alapag as the home crew came one Urbiztondo desperation three away from forcing overtime against the defending ABL champion.“I was very pleased with our effort in the second half,” he said. “But we need not just 20 minutes, it needs to be a 40-minute effort.”Rather than dwell on the defeat, Alapag noted the game should serve as a pick off point for Alab as it seeks to bounce back in its next game against Singapore on November 29 in Sta. Rosa, Laguna.“It was definitely something that we can build off of. Despite the loss, there were a lot of positives we can build on,” he said, not just for the players but also for the coaches themselves.“When you’ve played for so long, it’s a much different perspective. When you’re playing, you’re focused on making the shot or making the assist. But now when you’re coaching, you’re trying to put the pieces together to make it work with the five guys on the court,” shared the PBA legend. “Just like the players have to get back to work in practice, I’ll do my part watching video tonight and making sure that we’re better next game.”ADVERTISEMENT Jake says relationship with Shaina ‘goes beyond physical attraction’ Steam emission over Taal’s main crater ‘steady’ for past 24 hours It’s too early to present Duterte’s ‘legacy’ – Lacson Sports Related Videospowered by AdSparcRead Next Coco’s house rules on ‘Probinsyano’ set MOST READ Booed by PH crowd, Standhardinger delivers for Hong Konglast_img read more

Does early defeat spell beginning of the end for Mourinho?

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first_img0Shares0000Beginning of the end? Jose Mourinho’s Manchester United were beaten 3-2 at Brighton on Sunday © AFP / Glyn KIRKLONDON, United Kingdom, Aug 20 – Jose Mourinho warned of the troubles that could lie ahead for his Manchester United side, but the Portuguese must still accept much of the responsibility from a 3-2 defeat at Brighton that has the Red Devils’ season off to a bad start.The concern for United is now whether Mourinho is capable of stemming the tide to turn things around in a way he wasn’t in his third season at Real Madrid or in his second spell at Chelsea. On those occasions his fall even came from a position of strength he isn’t afforded now having won the league in the previous season.This time round after a trophyless campaign, Mourinho clashed with the club’s board over their failure to signficantly strengthen his squad, particularly at centre-back.Mourinho’s point was illustrated in a disastrous defensive display at the Amex in which United conceded three times in the first-half with centre-backs Victor Lindelof and Eric Bailly at fault.However, the club’s executive vice-chairman Ed Woodward could point to the fact that £60 million ($76 million) has been spent on Bailly and Lindelof in the past two seasons since Mourinho took charge as justification for not trusting his manager with more cash to splash.“The centre backs melted and you can’t do that in the Premier League,” said former United captain turned TV pundit Gary Neville on Sky Sports.“When Manchester United are so publicly in the transfer window looking for defenders, what belief does that give them?“They know they’re on borrowed time and I have to say Bailly and Lindelof were poor. They are the ones Jose has signed.“It has been poor recruitment. That back four aren’t good enough to win the title.”– Long-term view –Woodward hinted on the final day of the transfer window that the club had to take a more long-term view than Mourinho.Despite signing a new contract till 2020 in January, the growing feeling is Mourinho will do well just to see out the current campaign.Mancheser United captain Paul Pogba admitted his attitude wasn’t right for Sunday’s defeat at Brighton © AFP / Glyn KIRKWoodward’s long-term view also included holding on to Paul Pogba and Anthony Martial despite their rifts with Mourinho.Pogba was again entrusted with the captain’s armband at Brighton, but his admission he didn’t show the right attitude was hardly one of an inspirational leader.“They had more hunger than us. I put myself first, that my attitude wasn’t right,” said the French World Cup winner.Martial had been publicly criticised by Mourinho and fined for failing to return to the club’s pre-season tour in the United States after the birth of his second child.The Frenchman was recalled to the starting line-up in the absence of the injured Alexis Sanchez, but failed to impress before being hooked on the hour mark and barely exchanged a glance with his manager as he left the field.Mourinho began the weekend by telling local rivals Manchester City “you can’t buy class”, angry at the depiction of his tactics as overly defensive in a behind-the-scenes documentary on City’s title-winning campaign last season.The worry for United is whether Mourinho’s football is now not only not entertaining compared to the free-flowing football of City and traditional rivals Liverpool, but no longer effective at getting results with a disaffected squad.A big response is needed when Tottenham visit Old Trafford next week to avert a crisis spiralling before the opening month of the season is out.0Shares0000(Visited 1 times, 1 visits today)last_img read more