Advisers – Page 90
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Features
Consultants thrive in new climate
A country where pensions institutions hardly used consultants at all is now coming around to the idea. Consultants in France see their local pensions market developing steadily, helped by the new investment tools created by legislators three years ago. And they say that pension funds are increasingly likely to turn ...
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News
Mercer hires German construction fund’s Doetsch
GERMANY - Mercer Human Resource Consulting has named Peter Doetsch of the German construction industry pension fund as head of its retirement business in the country.
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DekaBank sets up €222m pension CTA
GERMANY – DekaBank, the asset management arm of Germany’s state-owned savings banks (Sparkassen), has set up a contractual trust arrangement (CTA) for €222m in pension liabilities.
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PGGM names investments operating chief
NETHERLANDS – PGGM, the €70bn Dutch healthcare and social work pension fund, has named Marc van den Berg as chief operating officer of investments as of May 1.
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GMO nabs ex-Towers’ Noordman for Dutch role
NETHERLANDS – Former Towers Perrin investment consultant Bart Noordman has joined global investment management firm GMO as business development director for the Netherlands.
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Somerset council scheme axes Hewitt
UK – Hewitt Associates has been axed as actuary and investment consultant to the £960m (€1.4bn) Somerset County Council pension fund.
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Citibank loses €13bn F&C pooled assets brief
NETHERLANDS – Citibank has lost out on a €13bn pooled assets mandate with F&C Netherlands – the mandate was awarded to ABN Amro Mellon following a market survey by the asset manager.
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DC schemes get low scores from Watson Wyatt
GLOBAL – Watson Wyatt has awarded the current investment sophistication of defined contribution schemes very low grades.
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Germany’s MAN awards pension custody brief
GERMANY – MAN has hired BNP Paribas as the global custodian for its contractual trust arrangement (CTA) – an external fund the engineering group set up last summer to finance pension liabilities.
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Lupus alpha “talent hotel” almost full
GERMANY – German boutique asset manager Lupus alpha’s “talent hotel” for new managers could soon be full, says Ulf Becker, partner in the firm’s alternative solutions department.
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German firms plan 'pan-European pensions'
GERMANY – Nearly half the big companies active in Germany plan to create some type of pan-European pension scheme by 2010 following the emergence of the EU pension fund directive, according to a new study by Rauser Towers Perrin.
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Towers' Compté joins new Belgian consultant
BELGIUM - Towers Perrin London-based consultant Frédéric Compté has joined some of his former Aon colleagues at new consulting firm Esofac Belgium.
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Deutsche Post names group pensions director
GERMANY – Benedikt Köster, former international pension accounting chief in Germany for Aon Jauch & Huebener Consulting, has been appointed director of group pensions at Deutsche Post.
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De Eendragt scheme becomes life insurer
NETHERLANDS – Dutch corporate pension fund Stichting Pensioenfonds De Eendragt has changed to a life insurance company called De Eendragt Pensioen NV with more than €950m in total assets under management.
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Germany’s BVK to allocate €1bn to hedge funds
GERMANY – Bayerische Versorgungskammer (BVK), Germany’s largest pension fund with €38bn in assets, plans to raise allocations to hedge funds to €1bn by the end of 2006 - from €150m currently.
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UK to legislate on DB transfer values
UK – The government is to legislate on the calculation of transfer values for defined benefit occupational pension schemes – taking oversight away from the Actuarial Profession.
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10% of large UK schemes now in hedge funds
UK – Some 10% of large UK pension funds now invest in hedge funds, according to a survey by Mercer Investment Consulting.
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Citigroup wins deal for UK overseas pensions
UK – Citigroup has been awarded a £500,000 (€720,000) contract by the Department for Work and Pensions to pay the pensions of almost one million overseas UK pensioners.
