board of trustees

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board of trustees

The group of responsible individuals who oversee the operation of a hospital or medical centre, which usually includes several members of the community, one or more chiefs of service, the chief executive officer, administrators and other individuals responsible for the hospital’s daily operations.

board of trustees

Politics The posse of thugs who oversee an institution's administration. See Board of directors.
References in periodicals archive ?
In any case, many trustee boards are chaired by the company's finance director, who wants to keep an eye on the scheme's investments and can do so in a money purchase scheme without risking the conflicts of interest that can arise when pensions are linked to final salaries and the company shoulders the entire investment risk.
Aon said member-nominated trustees brought a valuable perspective to trustee boards, but usually did not have a financial background and so found it difficult to gain a thorough understanding of all the investment aspects of the pension scheme within the time that they had available.
This will lead to many trustee boards following the more established investment strategies, with which they can claim familiarity, but which will not necessarily provide the optimal level of investment returns.
Julian Fox, senior consultant at Aon in Birmingham, commented: "Conflicts of interest are a big talking point with local directors and I have already heard of a number of cases in the Midlands where directors have removed themselves from trustee boards to avoid future conflicts
Many trustee boards of large UK pension schemes still face corporate governance difficulties, according to a new study from accountants PricewaterhouseCoopers.
Furthermore, 85 per cent of trustee boards did not have individual governance objectives and only 46 per cent assessed the performance of advisers and delegates.
Terry Simmons, pensions partner at PricewaterhouseCoopers in the Midlands, said: 'The results of our survey suggest that trustee boards are keen to enhance governance, but may have lulled themselves into a false sense of security by making some moves to comply with Myners.
However, the survey found that 45 per cent of trustee boards have not reviewed their knowledge and skills.