Asset Managers – Page 272
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News
BHW Invest sold to Postbank
GERMANY - BHW Invest, a German institutional fund administrator, has confirmed that it is now partially owned by retail banking giant Postbank.
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UBS institutional invested assets surge 24%
GLOBAL – UBS’ third-quarter results reported an annual 24% surge in institutional invested assets under global asset management to CHF425bn (€290.9bn).
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F&C ends outsourcing project with Mellon
UK – London-based F&C Asset Management has discontinued its project to outsource the former ISIS Asset Management operational functions to Mellon Financial Services. This followed a failure to agree “satisfactory contractual terms”, a statement said.
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Hermes chooses Ortec ALM system
NETHERLANDS -- Hermes Investment Management has chosen consultancy and software developer Ortec as supplier of its asset liability management system, the Dutch company has announced.
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SEB winning new institutional mandates
SWEDEN – Swedish financial services provider SEB has secured several new institutional mandates and achieved “greater market clout” in Germany, its interim report released today revealed.
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Aberdeen AM distributor eyes Libya
EUROPE – A joint venture partner of Aberdeen Asset Management is in dealings with the Gaddafi regime in Libya, it has emerged.
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PIMCO says it wins Irish mandates
IRELAND – Fixed income manager PIMCO Europe says it has been awarded two mandates – one worth €60m – from the Unilever Superannuation Fund and the Allianz Group Pension Scheme.
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Janus names new CEO amid inflows
GLOBAL - Janus Capital has named investment head Gary Black to take over from chief executive Steve Scheid amid a recovery in asset inflows.
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SAM appoints new global marketing head
SWITZERLAND – Swiss sustainable asset management company SAM has appointed Eric Gelfgren as global head of marketing and sales.
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GSAM consultant chief named as MD
EUROPE – Goldman Sachs Asset Management’s European consultant relations head Paul Richards has been promoted to managing director level at the firm.
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Universal sees slow demand for multi-management
GERMANY - Demand for multi-manager funds in Germany remains sluggish, partly because institutions want to influence the way their assets are invested, says Universal-Investment.
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UK pension buy-out growth inevitable – regulator
UK – More competition in the UK pension buy-out market is inevitable, says the Pensions Regulator.
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Mn Services eyes European, UK expansion
EUROPE – Dutch pension group Mn Services is considering expanding out of its home market – possibly into the UK and elsewhere in Europe.
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Schering puts extra €450m into external fund
GERMANY – Pharmaceuticals company Schering has removed another €450m in pension liabilities from its balance sheet so that they can be financed by its contractural trust arrangement (CTA).
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T. Rowe's vice chairman Riepe to retire
GLOBAL - Jim Riepe is to retire as vice chairman of asset management firm T. Rowe Price - with his responsibilities shifting to Edward Bernard.
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Singer & Friedlander CEO Shearer exits
UK – Tony Shearer is to leave as chief executive of Singer & Friedlander following the acquisition of the firm by Iceland’s Kaupthing.
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State Street nabs Philips’ back office head
NETHERLANDS – State Street has hired Philips’ Pension Fund’s former back office head Jan van der Meijden as vice president, head of middle office services.
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MLIM hires Aegon UK credit head
UK – Merrill Lynch Investment Managers has appointed former Aegon Asset Management UK credit head, Daniel McKernan, as sterling credit fund manager.
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Funds to embrace independent research – McCreevy
EUROPE – European Commissioner Charlie McCreevy is confident that UK and European pension funds will embrace independent research.
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Dexia AM opens Stockholm branch
SWEDEN – Dexia Asset Management is opening a branch in Stockholm headed by Fredrik Wilkens from Key Asset Management.
