 |
INTERNATIONAL LABOUR OFFICE
Governing Body |
GB.268/PFA/7/5
268th Session Geneva, March 1997 |
| Programme, Financial and Administrative Committee | PFA |
SEVENTH ITEM ON THE AGENDA
Other financial and general questions
Appointments to the Investments Committee of the
International Labour Organization
1. Appointments to the Investments Committee are made under article 3(ter) of the ILO Staff Pensions Fund Regulations, according to which the investment of the Staff Pensions Fund's assets is decided upon after consultation with an Investments Committee of three members appointed by the Governing Body on the proposal of the Programme, Financial and Administrative Committee. Consultation with the Investments Committee is also provided for in article VI of the Regulations of the International Institute for Labour Studies, regarding the investment of funds endowed to the Institute. Consultation with the Investments Committee is further provided for in article VI of the Statute of the International Training Centre of the ILO, Turin, regarding the investment of the funds of the Centre.
2. The present members of the Committee are Mr. Yves Oltramare, Baron Sirtema van Grovestins and Mr. Jean Pierre Cuoni. Mr. Yves Oltramare has been a member of the Investments Committee of the ILO since 1967; he was a partner in a well-known private bank, Lombard Odier and Co., Geneva, at the time of his retirement in December 1990. Baron van Grovestins, who was first appointed to the Investments Committee in 1978, retired in September 1988 as Chief General Manager of the Algemene Bank Nederland NV, Amsterdam. Mr. Jean Pierre Cuoni is a Director of Banque de Dépots, Zurich, and has been a member of the Investments Committee since November 1985. The three members participate in the work of the Committee on an honorary basis and are not remunerated.
3. The Director-General greatly appreciates the effective and harmonious work of the Committee in advising him on the management of the investment of the ILO's funds and recommends that the members be reappointed for a further period, expiring on 31 December 1999.
4. The Committee may wish to recommend that the Governing Body renew the appointments of Mr. Yves Oltramare, Baron Sirtema van Grovestins and Mr. Jean Pierre Cuoni as members of the Investments Committee of the International Labour Organization for a further period, expiring on 31 December 1999.
Geneva, 28 January 1997.
Point for decision: Paragraph 4.