Asset Managers – Page 253
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News
Germany’s MLP axes sales chief
GERMANY – Financial services firm MLP has parted company with its chief sales executive following weak sales of its occupational and private pensions during the second quarter.
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Fortis institutional sales director exits
NETHERLANDS - Robert Lobo, director of institutional sales at Fortis Netherlands, has left the company, Fortis has confirmed.
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ESPS terminates €1.48bn F&C real estate brief
UK – The €27bn Electricity Supply Pension Scheme has terminated its £1bn (€1.48bn) real estate mandate with F&C, the asset manager says.
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ABP, PGGM get double boost from Philips
NETHERLANDS – Dutch pension fund giants have ABP and PGGM have had a double boost from technology firm Royal Philips Electronics recently.
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Germany’s BVV gets WestLB deal
GERMANY – BVV, a €17.7bn pension fund for the German financial services industry, says it will provide a corporate pension to employees at Landesbank WestLB – the fourth Landesbank it has acquired as a client.
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AXA IM, BGI and SGAM post strong asset inflows
EUROPE – The asset management divisions of AXA, Barclays and Societe Generale all posted multi-billion rises in assets under management.
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Hermes’ Biles joins water company board
UK - Hermes Pension Management director John Biles is to join the board of Sutton and East Surrey Water Plc, the UK utility bought last year by Deutsche Bank’s infrastructure investment business.
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ING disbands global retirement department
NETHERLANDS – ING Group, the Dutch banking and insurance group, has abolished its Global Retirement Services department.
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Germany’s BVI seeking consultant transparency
GERMANY – Claiming inadequate transparency among investment consultants, German fund industry association BVI has prepared a questionnaire seeking detailed information about their business, IPE has learned.
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Icelandic pension funds buy into financial group
ICELAND – Nine Icelandic pension funds have bought more than six percent of financial services group Exista from Kaupthing Bank.
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LGIM names global fixed income head
GLOBAL - Legal & General Investment Management has named Gartmore's Roger Bartley as its new global head of fixed income.
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Deutsche asset mgmt division assets down €33bn
GLOBAL – Invested assets at Deutsche Bank’s asset management division have slipped by €33bn amid an unspecified amount of net institutional asset outflows.
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ABN Amro AM profits fall amid €1.8bn outflow
GLOBAL – ABN Amro has disclosed €1.8bn in net outflows and a fall in profits at its asset management business unit in the second quarter of 2006.
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Germany's Westfalen-Lippe fund backs Hermes
GERMANY - The €6.85bn Westfalen-Lippe doctors' pension fund has put €25m into the Hermes European Focus Fund.
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Mercer takes over at €2.4bn Allied Domecq scheme
EUROPE – Mercer Human Resource Consulting has taken over the running of the €2.4bn pension fund of drinks firm Allied Domecq.
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State Street CEO eyes hedge fund acquisitions
GLOBAL – State Street chief executive Ron Logue has indicated that the bank sees opportunities to make acquisitions in the areas of asset management, institutional books of business and - possibly - hedge funds.
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Williams exits Railpen Investments after a year
UK – Griff Williams, senior investment manager at Railpen Investments, has left after just over a year to join Pioneer Investments.
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L&G eyes longevity risk products for big schemes
UK – Legal & General says it sees “significant” growth opportunities in new products offering longevity products to larger pension schemes.
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New report calls for European pensions regulator
EUROPE – A new report has called for a European pension regulator among a host of recommendations for the global pensions industry.
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Myners joins Land Securities as chairman
UK – Paul Myners, the former Gartmore chief who wrote an influential report on institutional investment for the government, is to join real estate firm Land Securities as chairman.
