Asset Managers – Page 270
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News
New ABN Amro AM CEO takes helm
GLOBAL – Sarah Russell has formally taken over from Huibert Boumeester as chief executive of ABN Amro’s asset management division, the bank said.
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Environment Agency tenders €658m (updated)
UK – The roughly £1.3bn Environment Agency Pension Fund has put two mandates out to tender amounting to £450m (€658m). (Updated with new information)
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Fidelity posts German institutional outflows
GERMANY – Fidelity Investments’ ambitions for the German institutional market have been dealt a blow after its fund business in this segment had slight outflows in 2005.
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Mellon names Wachovia’s Kelly as CEO
GLOBAL – Mellon Financial Corp. has named Wachovia’s chief financial officer Bob Kelly as its new chairman, president and chief executive to replace incumbent Martin McGuinn.
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Shell Pension’s Morgan joins F&C
UK – F&C Asset Management has appointed former Shell Pension Management Services manager Gareth Morgan to the position of fund manager in its emerging equities team.
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Korea seeks to arrest ex-Hermes fund manager
KOREA – An arrest warrant has been issued by the South Korean prosecuting authorities for former Hermes Investment Management fund manager Robert Clements, who has left the country.
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MetallRente records double-digit sales growth
GERMANY – MetallRente, the pension fund for employees in Germany’s metalworking and engineering industries, has recorded another year of double-digit growth in sales of its corporate pension.
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Sweden’s AP7 re-tenders €4.7bn
SWEDEN - Sjunde AP-fonden, the Seventh Swedish Pension Fund or AP7, has launched a re-tendering process for three equity mandates amounting to SEK43.9bn (€4.7bn).
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Janus, LGIM, AXA report asset inflows
GLOBAL – Asset management firms Janus, Legal & General Investment Management and AXA Investment Managers have reported billions of euros in asset inflows.
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KPMG names investment management head
UK – KPMG partner Tom Brown has been appointed as the firm’s UK head of investment management and funds.
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Germany’s BVV fund names Aden to board
GERMANY – BVV, a €17.7bn pension fund for the German financial services industry, has appointed Helmut Aden to replace Christoph von Langsdorff on its two-member board.
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F&C’s CFO Paterson Brown to leave
UK – Ian Paterson Brown is to step down as chief financial officer F&C Asset Management by “mutual agreement”.
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Commerzbank names asset management COO
EUROPE – Commerzbank has named Andreas Krebs as chief operating officer for its newly created international asset management division.
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ING, UBS, others form US retirement association
US – ING, UBS and Aviva are among a group of 22 companies that have formed the new Retirement Income Industry Association, or RIIA, to focus on the challenges as the ‘baby boomer’ generation begins to retire.
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Cerulli international chief Phillips moves on
GLOBAL – Benjamin Phillips, international managing director of research and consulting firm Cerulli Associates, has left to join Putnam Lovell NBF Securities’ financial institutions group.
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NAPF governance advisor Lindey to leave
UK - Geoff Lindey, strategic advisor on corporate governance at the National Association of Pension Funds, is to leave.
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PGGM names Overmeer to investment board
NETHERLANDS – Dutch health care sector pension fund PGGM has named Jan Overmeer to its three-strong investment board committee.
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ATP axes F&C from emerging markets brief
DENMARK – F&C Asset Management has been axed from managing a DKK1.3bn (€174m) emerging market equity mandate by Danish pension fund giant ATP.
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HSBC wins €30.6bn L&G mandate
UK – HSBC Securities Services has been awarded a £21bn (€30.6bn) custody mandate by Legal & General to manage its Eurobond portfolio.
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Suomi offloads Pohjola shares
FINLAND - Suomi Mutual Life and Ilmarinen Mutual Pension Insurance have completed the sale of their stake in the Pohjola Group to OKO Bank.
