Advisers – Page 108
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Germany’s Rürup wants civil service pension cuts
GERMANY - Professor Bert Rürup, the government adviser on pensions, has provoked the anger of German civil servants by urging the government to cut their pension benefits by one-sixth.
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ISS targets Europe with Deminor purchase
EUROPE – US-based corporate governance and proxy voting firm Institutional Shareholder Services is to launch a European operation following the purchase of rival Deminor’s governance arm.
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Commodities need governance - consultant
UK - Lack of time and resources are among the factors behind the lack of development in commodities in the UK, according to a Watson Wyatt consultant, Alasdair Macdonald.
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Luxembourg insurance expert James Ball dies
LUXEMBOURG - It is with great regret that IPE announces the very sudden death of James Ball, head of insurance and employee benefit consultants JBI Deloitte in Luxembourg.
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Watson Wyatt names German investment head
GERMANY - Watson Wyatt’s Munich office has hired a senior manager from investment consulting firm FERI to head its German investment consulting team. (Updates with Watson comment.)
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French reserve fund in SRI move
FRANCE – The French reserve fund, the Fonds de Réserve pour les Retraites, has made progress in its move towards socially responsible investing.
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Russell advises on conflicts amid SEC probe
US - Russell Investment Group says it has started providing its US consulting clients with a document which addresses its potential conflicts of interest.
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Belgian pension reformer Becquaert moves on
BELGIUM – Henk Becquaert, principal private secretary to Belgian pensions minister Bruno Tobback, has left the post.
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SEC report finds US consultant conflicts
US – The US Securities and Exchange Commission has found that pension consultants in the US have to do more to identify conflicts of interest.
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Watson Wyatt says Credit Lyonnais case dismissed
UK – Pension consulting firm Watson Wyatt says the negligent advise case brought against it by Credit Lyonnais has been dismissed.
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NAPF: Turner says pension system unfit
UK - Adair Turner says that almost all the new information gathered since his Pension Commission’s first report last October has confirmed that the existing system “is not fit for purpose”.
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IPE-QUEST: MidEast investor tenders $200m
MIDDLE EAST – A UK-based consultant has tendered $200m (€157.4m) for Nordic hedge fund ma
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Commerzbank to pull plug on Pensor (Update)
GERMANY - Germany’s Commerzbank is in the midst of selling a majority stake in Pensor Pensionsfonds, an equity-oriented pension vehicle created by the Riester reforms of 2001, due to dissatisfaction with the fund’s performance so far, IPE has learned. (Updates with extra comment)
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Germany’s MLP taps Alpha for €800m
GERMANY - Investment consultant Alpha Portfolio Advisors says it has been awarded €800m by independent financial advisory firm MLP.
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ABN Amro Mellon poaches DB's Korsanke
EUROPE - ABN Amro Mellon Global Securities Services has poached Robert Korsanke from Deutsche Bank as the new senior sales manager for its Frankfurt office.
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PMI's Cobley becomes chairman of consulting firm
UK - Roger Cobley, the president of the Pensions Management Institute, has been appointed chairman of institutional consulting firm Stamford Associates.
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Pension funds face climate-change risks, says report
UK- The pensions industry needs to recognise the long-term impact of climate change and adapt their asset and liability management strategies accordingly or they face an uncertain future, according to a report by UK merchant banking group Climate Change Capital.
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L&G ready for capped index investments fund
UK – Legal &General is ready to operate a capped index investment fund for institutional investors requiring broader diversification as large cap UK companies increase in size and weighting.
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MLIM taps Gartmore’s Price as CIO EMEA Pacific
UK – Merrill Lynch Investment Managers (MLIM) has hired Gartmore’s Quintin Price as chief investment officer (CIO) for the Europe, Middle East, Africa and Pacific region (EMEA Pacific).
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Zalm clarifies role of certifying actuaries
NETHERLANDS - Certification by an external actuary does not need to be mandatory for insurers, said Dutch finance minister Gerrit Zalm.
