Advisers – Page 107
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Ireland sees EU directive as “major opportunity”
IRELAND – The Irish Association of Pension Funds has signalled that the directive on occupational pension funds is a “major opportunity” for Ireland.
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Mercer hires MLIM’s Williams for investment biz
UK – Mercer Investment Consulting says it has hired Cara Williams from Merrill Lynch Investment Managers in New York.
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Watson’s Swedish benefits head Wass leaves
SWEDEN – Elizabeth Wass, head of the benefits team at Watson Wyatt’s Stockholm office, has left the firm.
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Henderson loses out in North Yorkshire revamp
UK – The £880m (€1.31bn) North Yorkshire Pension Fund has dismissed Henderson Global Investors from a balanced mandate worth 22% of the fund.
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Europe the driver for State Street, says CEO
UK – State Street Corp. is seeing its most dramatic growth in Europe, says chairman and chief executive Ron Logue.
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Mercer loses out to Buck at L’Oréal
UK – Mercer Investment Consulting has lost a consulting brief with the £120m (€178.9m) UK defined benefit pension scheme of cosmetics company L’Oréal.
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Italian lawyers’ scheme backs green initiative
ITALY – The Italian legal pension scheme, Cassa Nazionale di Previdenza Forense, is among institutional backers of new €10m environmental initiative.
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IPE-QUEST: Dutch scheme tenders portable alpha
NETHERLANDS – A Dutch investment consultant has tendered a multi-asset class portable alpha mandate worth at least €15m via IPE-Quest.
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UK regulator names three executive directors
UK – The UK’s new Pensions Regulator has named three executive directors for strategy, business delivery and business support.
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France's FRR names private equity consultant
FRANCE - The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund has named a consultant to help it choose private equity managers.
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Dexia and RBC to combine custody arms
EUROPE – Dexia and Royal Bank of Canada are to combine their institutional investor services businesses in a joint venture that will have US$1.8trn (€1.47trn) in assets under custody.
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Lothian scheme awards £380m equities mandates
UK - The £2bn (€2.98bn) Lothian Pension scheme has appointed three new fund managers to run a total of £380m in global and Europe (ex-UK) equities.
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Dutch players still critical of FTK
NETHERLANDS – Further criticism about the new Financial Assessment Framework for pension funds emerged last week at an industry gathering.
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Swiss pensions official quits to join consultant
SWITZERLAND - Jürg Brechbühl, deputy director of the Swiss Federal Social Insurance Agency (BSV), is to leave his post in August to start a career in pension consulting.
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More members want to be trustees – law firm
UK – Pension scheme members are showing more interest in becoming trustees – despite regulation putting more responsibility on them, says a pensions lawyer at Hammonds.
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Greece sells telecom stake to pay for pensions
GREECE - The Greek government has agreed to sell 4% of its majority stake in the Hellenic Telecommunication Organization (OTE) to contribute to the voluntary early retirement plan for nearly one third of the firm’s workforce.
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Watson Wyatt names international consulting head
GLOBAL - Watson Wyatt Worldwide has appointed Watson Wyatt LLP partner Simon Gilliat to the new role of head of its international consulting group, which will focus on employee reward and benefits consulting to multinationals.
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Volkswagen Pension Trust in revamp (Update)
GERMANY - Volkswagen Pension Trust, the pension fund for the German car giant, has completed a sweeping revamp of the way its €1.5bn in pension assets are invested (Updates with clarification, fresh edit).
