Advisers – Page 70
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News
Dismay at €1bn UK pension protection levy
UK – The Pension Protection Fund’s announcement that it plans to levy an estimated £675m (€1bn) on pension funds in 2007/8 – more than double the previous levy – has been met with dismay by commentators.
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Hewitt opens Cyprus office
CYPRUS - Hewitt Associates says it has opened a new office in Nicosia, headed by consultant Philippos Mannaris.
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Dutch MPs approve FTK parameters
NETHERLANDS – The Dutch parliament has approved the parameters of the new financial assessment framework for pension funds, or FTK, as proposed by Social Affairs minister Aart Jan de Geus.
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Dutch Maxeda scheme eyes transfer to industry fund
NETHERLANDS – The corporate pension fund of retailer Maxeda will transfer to the €4.6bn industry wide pension fund for the retail industry (BPFD), the firm has confirmed today.
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IBM names UK pensions trustee board member
UK – Computer giant IBM has appointed its European corporate treasurer Jean-Louis de Gandt to replace David Hershberg on the trustee board at the £4.9bn (€7.2bn) IBM UK Pensions Trust Ltd.
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European institutions ‘uneasy’ about bond trading
EUROPE – European institutions are becoming uneasy about developments in the fixed-income market – fearing hedge funds are taking too much of dealers’ attention, according to Greenwich Associates.
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Swiss banking watchdog rejects pensions role
SWITZERLAND – Eugen Haltiner, president of Switzerland’s banking watchdog (EBK), has rejected the notion that regulation of Swiss pension funds (Pensionskassen) would be improved if it were immediately handed over by the EBK.
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MN Services names commercial director
NETHERLANDS – AXA’s Pieter Kiveron is returning to Dutch pension servicing company MN Services as commercial director, it was announced today.
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Hewitt Associates’ information chief leaves
GLOBAL – Hewitt Associates’ chief information officer Perry Cliburn has left the company to join information services and human resources outsourcing firm Ceridian Corp.
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Denmark tops European pensions rankings - Aon
EUROPE – Denmark tops Aon Consulting’s new ‘European Pensions Barometer’ – with accession countries Estonia and Latvia also making the top four.
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Consulting firm Blacket goes into liquidation
UK – Blacket Research, the firm set up to evaluate trustee decisions and investment consultants’ advice to pension funds, has gone into liquidation after heavy losses.
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New chief executive at Shell Pensions Bureau
NETHERLANDS - Margreet de Nie-Sarink has been named as managing director of Shell Pensions Bureau Netherlands, the organisation has announced.
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UBS, Aberdeen under review in Waltham revamp
UK – The £430m (€641m) London Borough of Waltham Forest pension fund is completely overhauling its investment strategy in a move from multi-asset to specialist managers.
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Ex-Unilever pensions head Lewin to help DWP
UK – The Department for Work and Pensions has appointed former Unilever UK head of pensions Chris Lewin to help it cut red tape.
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Unilever taps Kottmann for hedge fund advice
UK – Unilever has appointed Kottmann Advisory as external consultant to advise its pension fund on hedge fund-of-fund investments, in a move to launch a pooled investment fund in January.
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MN Services named as Cargill fiduciary manager
NETHERLANDS – The €261m corporate pension fund of Dutch export firm Cargill has appointed MN Services as its fiduciary manager, the company announced today.
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Dutch printing scheme contracts out equities
NETHERLANDS - The pension fund for the printing industry says it will contract out most of its equity portfolio to specialized external managers.
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Watson Wyatt dismisses PWC
GLOBAL – Consulting firm Watson Wyatt has replaced PricewaterhouseCoopers with Deloitte & Touche as its principal accountants, according to filing with the Securities and Exchange Commission.
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UK Mineworkers' fund names trustee director
UK – The £10.5bn (€15.6bn) Mineworkers’ Pension Scheme has appointed Vivien Cockerill, pensions partner of law firm Wragge & Co., as a trustee director.
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Greater Manchester reappoints Hymans
UK – The £8.5bn (€12.65bn) Greater Manchester Pension Fund has re-appointed consultancy firm Hymans Robertson as actuary and consultant, it was announced today.
