management

The duties and powers of management are described in a document (‘directiestatuut’) that took effect on 1 January 2007. This states that the managing director is responsible for ensuring that the compliance of Fund administration with strategic policy is monitored by at least  two natural person on a day-to-day basis. This meets the requirements of the four-eyes principle.

In practice that means tactical policy is determined by the managing director and members of the management team. Tactical policy must always be in line with the strategic policy laid down by the governing board of the Fund. The professional standards and reliability of management team members are monitored by the regulator, Dutch central bank DNB (De Nederlandsche Bank).

Since 1 january 2009 the day-to-day management of PH&C is the responsibility of managing director Paul Braams.