Friday, April 8, 2016

Pension Fund" "Loud Danger Signa" amid bell-ringing on Wall Street

On 11 February 2016, Ms. Theresa Panuccio, Acting Chair of the Pension Board's Assets and Liabilities Monitoring Committee, wrote to the Secretary-General stating that the Investment Management Division (headed by the Representative of the Secretary-General for Investments, RSG, Ms. Carolyn Boykin) is “dangerously understaffed”, with five empty “high level vacancies”, “dealing with investments, risk and other important functions. .. leaving the RSG to manage alone with the help of junior staff” and that .” . . . transactions . . . being carried out without the appropriate back-up signatures, in open disregard of proper clearance mechanisms. . clearly violate[ing] the Investment Policy . . ." are a "loud danger signal".

Today I received a photo captioned: "The Representative of the Secretary-General for Investments of the assets of the United Nations Joint Staff Pension Fund, Ms. Carolyn Boykin, joined State Street Global Advisors and CALSTRS in ringing the closing bell of the New York Stock Exchange on Thursday, March 10, 2016 to support the future of women in leadership."

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