Advisers – Page 119
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Multinationals to consolidate pension advice - survey
GLOBAL – Multinational companies are likely to consolidate their pension advisors and service providers as they seek to exploit economies of scale, a new survey has claimed.
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IMF adds voice to chorus wanting Europe to increase retirement age
EUROPE - The International Monetary Fund has added its voice to the growing number of calls for Europe to urgently raise its retirement age.
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Ireland’s Hibernian names new life & pensions MD
IRELAND – Hibernian has named group finance director Tony O’Riordan as managing director of its Life & Pensions arm.
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New Italian institutional fund launched
ITALY - Italian asset manager Arca SGR has launched a mutual fund to meet the needs of institutional investors called Anfiteatro – MultiInvestmentFund.
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UK accountants want ‘root & branch’ IAS19 reform
UK – The new international pension accounting standard IAS19 needs “root and branch” reform, says Eric Anstee, chief executive of the Institute of Chartered Accountants in England and Wales.
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Germany: Activest to cut 10% of fund managers
GERMANY - Activest, Germany’s fifth-largest provider of institutional funds, has confirmed plans to let go around 10% of the 80 fund managers it employs for both mutual and institutional funds.
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Three top executives leave Dutch doctors scheme
NETHERLANDS – The 10.5 billion-euro SBA Artsenpensioenfonds (Pension Fund for General Practitioners and Medical Specialists) in the Netherlands has lost three senior executives over the course of three months, it has emerged.
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Hazell Carr’s Donaldson joins Higham Group
UK – Pensions outsourcing firm Higham Group has hired Kenneth Donaldson from Hazell Carr Pensions Consulting to be director of business development, pensions.
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Sweden sees surge in pension spending
SWEDEN – The Swedish Ministry of Finance says pension expenditure will rise to more than 10% of gross domestic product in the next 30 years.
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Italian railway scheme selects first managers
ITALY - Eurofer, the 104 million-euro pension fund for railway workers, has selected its first asset managers.
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IPE-QUEST: Swiss client tenders fixed interest
SWITZERLAND - Investment consultant Kieger has tendered 100 million francs (65.8 million euros) in fixed interest on behalf of a corporate treasury client via IPE-Quest.
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F&C says poised to decide on outsourcing
EUROPE – The merged F&C-ISIS is poised to issue an announcement tomorrow about the outsourcing deals the combined group has with J P Morgan and Mellon.
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Average UK pension pay is £79,000 – report
UK – Professionals in the UK pensions industry earn an average 79,000 pounds (112,800 euros) a year, according to a report by Greenwich Associates.
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Czech pension fund clients rise to 2.86m
CZECH REPUBLIC - The number of privately insured Czechs rose to 2.86 million as of September 2004 from 2.74 million in December 2003, the Finance Ministry has said.
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Aon ousts Watson Wyatt at TV news firm
UK - Aon Consulting says it has ousted Watson Wyatt Worldwide as investment consultant for the Independent Television News Ltd (ITN) Pension Scheme.
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Pensions Trust hands iBoxx brief to Standard Life
UK - Standard Life Investments says it has been awarded a 75 million-pound (107.4 million-euro) corporate bond brief by the Pensions Trust, benchmarked against the iBoxx index.
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Mercer sees one more mega custody merger
EUROPE – The securities services industry has “significant” scope to concentrate further – with another ‘mega-merger’ possible, a report by Mercer Securities has said.
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Lane Clark names Fernandes’ replacement
UK - Actuarial consulting firm Lane Clark & Peacock has named PricewaterhouseCoopers' David Everett as head of pensions research.
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Pictet senior partner Charles Pictet to leave
SWITZERLAND - Pictet & Cie’s senior partner, Charles Pictet, is leaving the company after 36 years to join the seven-member Swiss Federal Banking Commission (SFBC), the authority that controls the country’s financial sector.
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ABP buys stake in UK real estate firm
UK - ABP, the 150 billion-euro Dutch civil service pension fund, has acquired a minority stake in the UK-based student accommodation company Unite Group.
