Asset Managers – Page 236
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Greek bank sets up Turkish pension firm
GREECE - The National Bank of Greece (NBG) is establishing a pension insurance company in Turkey through its majority ownership at Turkey’s Finansbank.
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Kempen expands fiduciary team
NETHERLANDS – Dutch merchant bank Kempen & Co has hired ING Investment Management’s Marco van Rijn in a move to expand its fiduciary business.
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Robeco plans to offer manager selection
NETHERLANDS - Robeco, the asset management arm of Rabobank, plans to offer manager selection for institutional investors this year.
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Wednesday people roundup
Insight, Barings, BlackRock, Mercer, Henderson, CSAM, PensionsRisk, Northern Trust, Dexia AM, Fabien Pictet, Sacker & Partners, Mellon.
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AXA IM nabs Fidelity’s Hall for UK role
UK – Martin Hall, co-head of fixed income at Fidelity International, has been appointed as the new head of AXA Investment Managers (AXA IM) in the UK.
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DeAM names global institutional product head
GLOBAL – Deutsche Asset Management has named Sal. Oppenheim’s Frank Klein as its new global head of institutional product management and development.
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Irish reserve fund’s real estate chief departs
IRELAND – Ian Gleeson, head of property at Ireland’s €18.8bn National Pensions Reserve Fund, is to join Morley Fund Management.
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Philips sets up Luxembourg pan-European scheme
LUXEMBOURG – Electronics giant Philips has set up a Luxembourg-based pan-European pension fund in accordance with the IORP directive on occupational pension funds.
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AZL facing court action from Dutch miners
NETHERLANDS – Dutch mineworkers are preparing legal action against pensions provider AZL in a dispute over payouts.
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Managers criticised in German study
GERMANY – Property fund manager Oppenheim Immobilien KAG (OIK), bond specialist Pimco and Axa Investment Managers have elicited the most criticism in a new survey of German institutional investors.
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Ex-ABP chief outlines Axial strategy
NETHERLANDS/UK – Jan Straatman, the former capital markets head at Dutch pension giant ABP, has outlined his investment strategy for new London-based asset manager Axial.
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Credit Suisse loses CEO
EUROPE – Leonhard Fischer, Credit Suisse’s chief executive for Europe, Middle East and Africa is leaving the position just weeks after filling it at the beginning of March.
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Aberdeen wins £7.7bn in five months
UK - Aberdeen Asset Management plc has won new business worth £7.7.bn (€11.3bn) in the five months to the end of the February.
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Watson Wyatt urges managers to co-invest
UK – Co-investment should be one of the strategies adopted by investment managers to align their interests with those of their clients and employees, Watson Wyatt says.
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£9.4bn Strathclyde to reconsider hedge funds and commodities
UK – Strathclyde, the £9.4bn (€13.84bn) local authority fund administered by Glasgow City Council, will consider investing in hedge funds and commodities when the next investment review comes up in 2009.
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IPE-QUEST: Dutch funds seek Canada and Asia managers
NETHERLANDS - A Dutch corporate pension fund is using IPE-QUEST to look for a large cap Canadian equities manager for a $125m (€94m) mandate (QN735).
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West Midlands seeks direct property manager
UK – The West Midlands pension fund is looking for a manager for its £560m (€824.6m) direct UK property portfolio.
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NTMA seeks external transition expertise
IRELAND – The National Treasury Management Agency (NTMA) is setting up a transition manager panel in a move to minimise costs.
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Manager selection no 'beauty parade', warns Watson Wyatt
EUROPE – Pension funds destroy value when selecting and deselecting managers solely based on performance, according to Edouard Stucki, senior investment consultant at Watson Wyatt.
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Weaker UK schemes are ‘more aggressive’ investors
UK – Defined benefit schemes backed by weak sponsoring employers adopt more aggressive investment strategies than the funds with stronger sponsors, according to consultants Lane Clark & Peacock (LCP) Prudence Index study.
