Asset Managers – Page 253
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Italian postal fund tenders €100m
ITALY - Fondoposte, the complementary pension fund for Italian postal workers, is looking for managers to manage €100m of assets.
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Northern Trust names European outsourcing chief
EUROPE – David Copley, former Mellon UK investment operations outsourcing and fund accounting chief, has joined Northern Trust as head of investment operations outsourcing for Europe.
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Dutch insurance premiums dwarf pension premiums
NETHERLANDS - Premiums paid to Dutch insurance companies were three times as high as premiums paid to Dutch pension funds at the beginning of 2006 (Corrects figures in 2nd paragraph).
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Italian hedge fund industry lacks special skills – AIMA
ITALY – The absence of specialist on-shore knowledge in Italy’s hedge fund industry has dampened down the market for competition, according to a report by global hedge fund trade association AIMA and international law firm Simmons and Simmons.
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DeAM names equity and bond chiefs
GERMANY – Deutsche Asset Management has appointed Klaus Kaldemorgen and Heinz Fesser to the new positions of global head of equities and fixed income, respectively.
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Old Mutual Asset Managers appoints CIO
UK – Old Mutual Asset Managers (OMAM) has appointed Eoin Murray, its current head of quantitative strategies, as chief investment officer.
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EU schemes to reclaim dividend tax
EUROPE/NETHERLANDS - Pension funds based in other EU member states will also be allowed to reclaim dividend tax, the Dutch Treasury has announced.
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German government approves new civil service scheme
GERMANY – The government has approved a draft law paving the way for the creation of a pension fund for federal civil servants hired after January 1, 2007.
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EFAMA urges EC to remove regulatory barriers
EUROPE – EFAMA, the European Fund and Asset Management Association, has called on the European Commission to remove legal and regulatory barriers of the UCITS Directive.
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Skandia’s Macleod to head €36bn division
UK – Jamie Macleod, chief executive of Skandia Investment Management (SIML), is to head Skandia UK’s new asset management division – a consolidation of its investment, fund group and life arms.
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CAAM names marketing boss
FRANCE - Credit Agricole Asset Management (CAAM) has promoted current head of client servicing Philippe Zaouati to head of marketing.
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AP3 may disinvest in Yahoo!
GLOBAL – The roughly SEK175.8bn (€19.2bn) Third Swedish National Pension Fund (AP3) has not ruled out withdrawing its equity investment in Yahoo! following reports implicating the global online network in human rights violations.
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KPMG talking to five on asset pooling
IRELAND - Accounting firm KPMG says it is talking to five potential clients, including pension funds, about asset pooling.
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DekaBank names Killius institutional sales chief
GERMANY – DekaBank, the asset manager of Germany’s state-owned savings banks (Sparkassen), has recruited Thomas Killius from HypoVereinsbank as its new head of institutional sales.
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Insight sacks six in restructure
UK - Insight Investment has fired six UK analysts – three from equities and three from the UK research team – in a restructuring effort aimed at turning around its underperformance in UK equities.
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UK investors manage over €4.3tn
UK – Investment managers in the UK now manage over £3trillion(E4.3trn) in assets, according to the Investment Management Association(IMA).
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Perry goes to ITS, Lancaster to MPC and Elliott to Aon
UK – The former pensions head at the House of Commons, Carol Perry has been appointed as one of six directors at Independent Trustee Services.
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Dutch governors and board member registers merge
NETHERLANDS - The National Register of Governors and Supervisors (NR) and the Register for Board Members of Pension Funds (RBP) will merge this year, both organisations have announced.
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EU fund industry ‘outdated’
EUROPE – The EU fund industry is not correctly equipped to respond to the challenges of strong competition for investor savings and a rapidly evolving demand for investment products, according to a report to the European Commission.
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Credit Agricole makes three senior AM appointments
EUROPE - Credit Agricole Asset Management has appointed three senior executives, including an equity investment chief and strategy head, in a bid to strengthen its Paris-London-Milan links.
