Investment board

Information on the current directors of USS Investment Management Limited.

Virginia Holmes


Virginia has served as the chair of USS Investment Management, USS Limited’s investment management subsidiary since September 2013 and is a member of USS Limited’s investment committee. From 2005 to 2013 she served a non-executive director of USS Limited.

She currently acts as a non-executive director for Alberta Investment Management Corporation, Standard Life Investments Limited and Post Office Ltd, for which she also serves as the chair of the pensions sub-committee.

Virginia was formerly Chief Executive Officer of AXA Investment Managers UK Holdings Ltd and also its Global Head of Strategic Development. She has held several senior positions at Barclays Bank Group in the United Kingdom and overseas and served for 10 years as a non-executive director for JP Morgan Claverhouse Investment Trust plc. Virginia holds a BA (Hons.) from Durham University.

Bill Galvin

Group Chief Executive

Bill was appointed Group Chief Executive Officer in August 2013. Before joining USS, Bill was CEO at the Pensions Regulator (tPR) for three years, and prior to that was executive director for strategy at tPR. Bill has also worked at Department for Work and Pensions (DWP) where he was responsible for the policy framework governing private pension protection through the period of establishment of tPR and the Pension Protection Fund.

Simon Pilcher

Chief Executive (USS Investment Management Limited)

Simon was appointed Chief Executive of the wholly-owned investment management subsidiary of USS Ltd (USS Investment Management Ltd) in October 2019. He started his career in asset management in 1987 at Morgan Grenfell before moving to Prudential in 1998, a year before it acquired M&G Investments. At M&G Prudential, he led the Fixed Income and Alternatives businesses for two decades before being asked to become Chairman of Real Estate with a combined team of over 500 employees and around £160 bn in assets. He was also a member of the Executive Leadership Team. During his tenure at M&G Prudential, Simon championed innovation and pioneered new products in Europe, for example: Leveraged Finance, Infrastructure Private Equity, Commercial Mortgage Lending and, more recently, Specialty Finance and Impact Investing. He has a degree from Cambridge University.

Howard Brindle

Chief Operating Officer

Howard was appointed Chief Operating Officer for USS Investment Management in March 2012. Howard was previously head of JPMorgan’s European Transfer Agency Product and Chief Administration Officer for Lehman Brothers Asset Management Europe. Howard has BA Physics degree from Oxford University.

Dr Kevin Carter

Director (Independent)

Kevin Carter is chairman of Murray International Trust PLC and a nonexecutive director of Lowland Investment Company PLC. He is a trustee director of the BBC Pension Trust Limited and chairman of its investment committee and a Director of the Centrica Combined Common Investment Fund. He is also Chairman of Hermes GPW LLP, a private markets asset manager.

He was Chief Executive of Old Mutual Asset Managers (UK) Limited from 1987 to 2000 and Chief Executive of Old Mutual Asset Managers (US) LLC from 2000 to 2001. He then became a senior investment consultant and ultimately European Head of Investment Practice at Watson Wyatt. Subsequently he joined JP Morgan in London as a Managing Director and Head of the EMEA Pension Advisory Group.

Tony Owens

Director (Independent)

Tony Owens was previously the Director of Operations, Strategy and Finance at Scottish Widows Investment Partnership Limited (SWIP). He joined SWIP from their parent company, Scottish Widows, where he was the Director of Strategy, Planning & Monitoring from July 2004. Previous to this, he consulted at Blas Corporate Finance and as Adviser at Rutherglen Capital in Sydney. Tony has held senior positions at Martin Currie Investment Managers, in the BBC, Bertelsmann Group in Munich and New York, and LEK Consulting.

Chris Rowlands

Director (Independent)
Appointed by UUK

Chris Rowlands joined the USS Investment Management board in March 2015. He began his career at Barclays Bank, was a Corporate Finance partner at Arthur Andersen and spent almost 20 years wit the 3i Group, where he was business leader for Asia and for Europe. Since giving up his executive role in 2009, he led the review of the UK SME access to equity (the Rowlands Review) for HM Treasury and was a member of the Breedon Review of UK SME debt financing. He has served as Deputy Chairman of the Principality Building Society, Chairman of the Investment Committee at Finance Wales and a non-executive with Hermes GPE.

Mike Powell

Appointed by UUK

Mike joined USS in 2006 to form the Alternative Assets programme. Mike has overall responsibility for the Private Markets Group and is Chairman of the Private Markets Investment Committee which approves investments within Private Markets.

Mike graduated with a First Class Honours degree in Economics from Warwick University and is an Associate of the UK Society of Investment Professionals (UKSIP).

Last updated: about 9 months ago