In June 2013, Barry Kenneth, who will become the new CIO and will supersvise the PPF’s investment portfolio, which is presently over 13bn. Kenneth joins the PPF from Morgan Stanley, where he is managing director and head of UK fixed income institutional and pensions coverage. PPF’s executive director of financial risk, Martin Clarke, said: “Our investment portfolio has become increasingly sophisticated and has received considerable industry recognition for its innovation and performance. We believe that Barry will bring to the PPF the expert knowledge and extensive experience needed to build on that success. “Barry will have a crucial part to play in developing PPF’s investment function, to help make sure we continue to pay compensation to our members for as long as they need it and achieve the PPF’s target of securing financial self-sufficiency by 2030.” Kenneth said: “I am looking forward to contributing to the organisation’s further success while playing an important part in providing real security to millions of pension scheme members. At present, Weir is the head of corporate insolvency at Barclays Corporate. Favier will be stepping down in July 2013. Nearly, 1.4bn in recoveries has been alloted by PPF, since it commenced in 2005. Clarke said: “This is a complex and important part of our business which is aimed at minimising the impact on levy payers of schemes entering the PPF. “Favier, who has been with us since the beginning, has played a crucial role in the success of the organisation and we wish him well for the future. We believe that Weir is the ideal replacement, bringing the right level of expertise, knowledge and experience to the role. We look forward to him joining us.” Favier said: “My time at the PPF has been busy, interesting and challenging, to say the least. It was a difficult decision to stand down from my role here but I am sure that Weir will continue the good work.
Real World Learning: Roanoke student travels to United Kingdom through prestigious scholarship program
Dowling was part of the Fulbright Summer Institute, which is a summer program that provides U.S. undergraduate college students with an academic and cultural immersion abroad for three to six-week periods. During the month of June, Dowling studied with nine other American students at the University of Bristol in the United Kingdom. The summer institute focused on the Triangular Trade, with teaching by scholars from Africa, North America and the United Kingdom. The students researched various topics related to this trade route and presented their findings at the end of the program. Dowling’s research focused on the Triangular slave trade, in which ships transported slaves to America from Africa to work on plantations, where cotton, sugar, tobacco and other goods were produced. Lectures often ventured beyond the typical classroom setting. Students took class trips to explore the city of Bristol and its history. On the checklist of tours, students visited a merchant venture plantation where they could overlook the harbor that the merchant slave ships docked en route to America. By the end of his trip, Dowling said he “knew the city of Bristol better than the actual Bristol students probably did.” Although the educational tours were interesting, Dowling and his fellow students enjoyed exploring Bristol and other cities, including Bathe and London. “The roast done in the pubs every Sunday was great,” Dowling said. “But the chips were awful. I needed American French fries.” He now is back at Roanoke, but he has high hopes of traveling abroad again. Dowling, who has not yet decided on his academic major, hopes to discover his academic passion by experiencing the world like he did this summer and pursuing a career that allows him to do just that. “Studying abroad was the best experience of my entire life,” Dowling said.