UK – The £25bn (€37bn) Universities Superannuation Scheme (USS) has appointed Virginia Holmes as co-opted director and investment committee chair.

Holmes is also non-executive director and chair of the audit committee of JP Morgan Claverhouse Investment Trust.

Before she joined JP Morgan, Holmes was chief executive of AXA Investment Managers in the UK and managing director of Barclays Bank Trust Company.

She took over at the USS from Standard Life managing director Scott Bell at the end of his permitted term of office.

According to a USS spokesman, Holmes applied for the advertised position, went through the selection process and “came out on top”. There is a minimum office term of three years.

He added that Holmes would bring her “specific expertise” to the scheme, and does not representing any particular body on the committee such as employers and trade unions.

The Liverpool-headquartered USS is the UK’s second largest pension fund and acts for more than 360 universities and academic institutions. It has more than 200,000 members.


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