Asset Managers – Page 277
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Dexia say clients back RBC custody tie
EUROPE – Dexia says its clients have responded well to its planned custody tie-up with Royal Bank of Canada.
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Northern Trust Global Advisors names CIO
GLOBAL - Northern Trust Global Advisors, the manager-of-managers arm of the Chicago-based bank, has named Andrew Smith as chief investment officer.
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Threadneedle names UK institutional head
UK – Threadneedle Investments has named Madeline Forrester as its new head of UK institutional business, effective immediately.
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Insight nabs MLIM’s Aitken as institutional head
UK – Insight Investment Management has named Sarah Aitken, head of defined contribution at rival Merrill Lynch Investment Managers, as its new head of institutional business.
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Moody’s extends asset manager ratings services
GLOBAL – Ratings agency Moody’s Investors Service has upgraded its asset management ratings services to include more of a quantitative element.
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KAS releases buoyant half-year figures
NETHERLANDS – KAS Bank has reported a €3.9mn increase in commission in the group’s half-year figures released today - an 11.5% increase on the same figures in 2004.
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Mellon takes control of Russell/Mellon venture
GLOBAL - Mellon Financial Corp has taken full control of the Russell/Mellon performance measurement joint venture.
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Hewitt sees consolidation in pensions admin
NETHERLANDS – Hewitt Associates, which has now taken over the administration of the Philips Pension Fund, says it sees consolidation in the pensions administration area.
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Credit Agricole gets €21bn of asset inflows
FRANCE – Credit Agricole says its asset management arm gained almost €21bn in inflows in the first half of the year.
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Capita buys pensions admin firm FPS
UK – Pensions administrator Capita Hartshead has acquired the FPS Group of Companies following “enormous change” in the UK pensions market.
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Robeco sees “disappointing” asset inflow
NETHERLANDS – Robeco, the asset management arm of Rabobank, had a disappointing inflow of new assets in the first half of the year – hit by US outflows.
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350 jobs to go as Julius Baer buys banks
SWITZERLAND – Around 350 jobs, including possibly that of asset management chief Roman von Ah, look set to go with Julius Baer’s decision to buy four wealth management firms from UBS.
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German institutions ‘to seek lower hedge fees’
GERMANY – German institutional investors will increasingly pressure fund of hedge fund providers to cut management and performance fees, reckons consulting firm Faros.
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ING Real Estate chief quits over Polish complex
POLAND – Paul Trip, chief executive of development at ING Real Estate, has quit over problems at a shopping complex in Warsaw.
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MLIM completes €12bn Philips pension deal
NETHERLANDS - Merrill Lynch Investment Managers says it has now completed its previously announced deal to buy the in-house pension management arms of electronics giant Philips.
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Germany: BaFin fund regulator Bartels to retire
GERMANY - Financial services regulator BaFin has confirmed that Volckmar Bartels, its chief supervisor for institutional, retail and hedge funds in Germany, will retire at the end of this month.
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COMMENT: Petroleum Fund up for grabs?
COMMENTARY – The head of the Norwegian central bank, Svein Gjedrem, appears to have dropped a hint about the future of the Petroleum Fund.
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Dutch doctors’ fund becomes limited company
NETHERLANDS – The €11bn doctors scheme SBA Artsenpensioenfondsen has announced its decision to become a private limited company - Doctors Pension Funds Services BV.
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Petercam hit as multinationals revamp mandates
BELGIUM – The globalisation of pension funds by multinational companies cost Petercam Asset Management two to three mandates over the past year.
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AXA Rosenberg bags €98.3m Shropshire brief
UK - AXA Rosenberg says it has won a European ex-UK equities mandate worth €67m (€98.3m) from the Shropshire County Pension Fund.
