Asset Managers – Page 241
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Cordares eyes international property pooling
REAL ESTATE - Pensions provider Cordares says it’s considering setting up direct real estate pooled funds with pension funds abroad as a way to diversify risks.
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Morley names European marketing manager
UK – Morley Fund Management has named American Express’s Nicolas Portet as European marketing manager.
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Real estate ripe says Schroders' Brown
REAL ESTATE – The real estate market is “ripe” for a more global investment approach, says Schroders’ investment chief Alan Brown.
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UBS asset arm appoints Nordic sales director
SWEDEN – Henrik Af Donner has been appointed director of Nordic sales in the UBS Global Asset Management offices in Stockholm.
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Allianz gets new pension research head
GERMANY – German financial services giant Allianz has named a new head of pension research.
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Liljeström to head merged €6bn Tapiola fund units
FINLAND - Tom Liljeström has been named as managing director to oversee the merger of Tapiola’s asset management and fund arms.
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German regulator probes asset manager trading
GERMANY – Financial services watchdog BaFin has confirmed it has found evidence of insider trading in Porsche shares by a Frankfurt-based asset manager.
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JP Morgan wins $30bn in UK custody mandates
UK – JP Morgan Worldwide Securities Services says it has bagged more than $30bn (€23.4bn, £15.8bn) of new UK pension fund custody assets in the last six months.
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Publica vindicated over Swissfirst affair
SWITZERLAND – Publica, the CHF30bn (€19bn) pension fund for Swiss federal employees, says an external auditor’s report has cleared its employees of any wrongdoing in the Swissfirst affair.
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Pension funds behind interest-rate swaps surge
EUROPE – The Bank for International Settlements says interest-rate swaps activity surged in the first half of 2006 – with analysts putting it down to pension fund interest.
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Nestlé pension management firm names CEO
UK – Peter Tait, formerly investment manager of Nestlé UK Pension Trust, has been named as the head of the confectionery company’s new pension asset management company.
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Citigroup transition management goes global
GLOBAL – Citigroup has expanded its transition management into the North America, making the service now global.
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Environment Agency awards €649m FX mandate
UK – The Environment Agency says it has awarded a total of £440m (€649m) in currency mandates to Informed Portfolio Management.
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CSAM gets new European COO
EUROPE – Credit Suisse has named Dresdner Kleinwort’s Joachim Mies as chief operating officer for Asset Management in Europe, the Middle East and Asia.
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UK to set up pensions ‘delivery authority’
UK – The UK government has confirmed it plans to set up a ‘delivery authority’ for pensions.
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Pension funds “cold” on trading platform plan
EUROPE – Plans by a group of investment banks to set up a new pan-European equity trading platform have met with a lukewarm reception from pension funds.
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Mellon targets multi-national pooling
GLOBAL – Mellon Financial Corp. is targeting multi-national pooling as one of the drivers for its asset servicing business, according to the division’s head Jim Palermo.
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Schroders’ YTD institutional outflow hits €9.5bn
UK – Schroders has lost £6.4bn (€9.5bn) in institutional assets so far this year.
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SBZ seeks fiduciary manager for €2.3bn
NETHERLANDS - The € 2.3bn pension fund for care insurers SBZ says it is in the process of selecting a new external asset manager.
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Paternoster names first client
UK – New bulk annuity buy-out firm Paternoster today announced an initial five pensions outsourcing deals – the first of their sort – with a “substantial” prospect for future deals.
