Asset Managers – Page 273
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Pictet names Northern Europe sales chief
EUROPE – Gerrit Van Gorp, former senior director and head of credit derivatives at Dow Jones Indexes, has been appointed by Pictet Asset Management to be its new head of business development for Northern Europe.
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CalPERS still searching for permanent CIO
US – CalPERS is still looking for a permanent replacement for Mark Anson, the chief investment officer who is leaving to join Hermes as chief executive.
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IMA says pension pooling at stalemate
UK – The Investment Management Association says pension pooling is stuck in “something of a stalemate”.
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Achmea taps F&C for shareholder engagement
NETHERLANDS - Eureko's Achmea has signed up for F&C's Asset Management's shareholder engagement programme for €1.5bn in assets under management.
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Laurus axes ABN Amro Mellon in revamp
NETHERLANDS – Dutch food retailer Laurus has awarded a €400m custody and transition management mandate to Northern Trust, resulting in a loss for incumbent ABN Amro Mellon.
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Institutions pull €1.8bn from Schroders
UK – Schroders plc says it lost a net £1.2bn (€1.78bn) in institutional assets under management in the three months to the end of September – although asset management profit and revenue were both up.
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Bond switch could cut UK profits – consultant
UK – A wholesale shift by pension funds away from equities to bonds prompted by liability-driven investing could cut UK corporate profits by billions of pounds, according to consulting firm Pension Advisor Review.
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Former Watson partner Hill joins Investit
UK - Former Watson Wyatt partner Brian Hill has joined fund management consultancy Investit as a specialist.
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Allianz “won’t stand still” in asset management
GERMANY – Allianz says it “won’t stand still” in asset management and is targeting a 10% increase in profit in the area.
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Nestlé seeks pensions risk manager
UK – Nestlé is looking for a risk manager with experience in hedge funds to offer services, including the management of assets and liabilities, to its pension funds.
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ING’s Central Europe pension assets surge
EUROPE – Dutch banking group ING’s pension fund assets in Central Europe have risen by more than 32% to almost €7bn.
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Schroders appoints new deputy CFO
UK – Schroder Investment Management has appointed Dresdner Kleinwort Wasserstein finance head Stephen Brooks as group financial controller and deputy CFO.
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BGI looking for equity CIO as Annable exits
GLOBAL – Matthew Annable, European chief investment officer for active equities at Barclays Global Investors, is to leave next year in a “lifestyle change” – but his successor has not yet been chosen.
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€24bn UN pension fund ‘reviewing strategy’
GLOBAL – The $29bn (€24.7bn) United Nations pension fund may be reviewing its investment strategy to bring it more in line with the body’s humanitarian-based mission and objectives.
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Fortis Investments names Poland sales head
POLAND – Fortis Investments has named Grzegorz Swietlik as its new head of sales for Poland.
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Aegon’s Lommen joins Dutch supervisor DNB
NETHERLANDS - Former Aegon pensions co-ordinator Jacqueline Lommen has joined De Nederlandsche Bank, the central bank which supervises pensions.
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Buckingham cuts Capital mandate in revamp
UK – The £874m (€1.3bn) Buckinghamshire Pension Fund has cut Capital International’s equities mandate by just over 20% due to poor performance results, and appointed five new fund managers.
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Activism at work as VNU reviews IMS deal
NETHERLANDS – Shareholder activism by pension funds appears to be a factor in VNU’s decision today to review its planned $6.3bn (€5.2bn) merger with IMS health.
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EFRP welcomes two new Italian members
EUROPE – Italy’s industry-wide occupational pension fund association, Assofondipensione, and the Italian asset management association, Assogestioni, will join the European Federation for Retirement Provision (EFRP) as full members on 1 January 2006.
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New Study assesses cross-border value
EUROPE - European and US asset managers view the establishment of local marketing offices in other countries as an expensive but effective option for cross-border selling, according to a new study.
