Asset Managers – Page 278
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News
Molenkamp the latest victim of MN shake-up
NETHERLANDS – MN Services’ account management head, Jan Bertus Molenkamp, is to leave – the latest in a series of departures that sources suggest are related to a restructuring at the pension firm.
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Achmea, Interpolis get OK for merger
NETHERLANDS – The Dutch competition authority has approved the previously announced merger between pension management firms Interpolis and Achmea.
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AP2, Alecta execs join Handelsbanken committee
SWEDEN – Representatives from Swedish pension bodies AP2 and Alecta have been appointed to a board election committee at banking group Handelsbanken.
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Watson Wyatt denies staff exodus
UK - Watson Wyatt has denied that staff are leaving en masse following its acquisition by its US affiliate Watson Wyatt & Co.
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Mellon eyes stake in WestAM – FT
GERMANY – Mellon Financial Corp. is considering taking up to a 50% stake in WestAM, a German institutional fund provider that specialises in fixed income, according to the Financial Times.
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Norway’s Kvaerner embroiled in UK pension row
UK – Norwegian industrial holding group Kvaerner ASA has become embroiled in a row over its relationship to the Kvaerner Pension Fund (KPF), the UK pension plan of the former Trafalgar House.
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Netherlands’ Bouwend awards admin to NN
NETHERLANDS - Construction sector organisation Bouwend Nederland has awarded a pension administration contract to ING Group’s Nationale Nederlanden.
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Achmea looking to boost profits ahead of merger
NETHERLANDS – Pension common management firm Achmea is undergoing a “commercial vitality project” ahead of its merger with Interpolis.
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GSAM says it wins €785m from local authorities
UK - Goldman Sachs Asset Management says it has won a total of £533m (€785m) from three UK local authorities.
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Threadneedle names Nordic distribution head
NORDIC – Threadneedle Investments has named Thomas Berglund as head of Nordic distribution, responsible for the developing the firm’s business in Sweden, Norway, Denmark and Finland.
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Greek pension strikers clash with police
GREECE – Greek bank workers have clashed with police during a strike about pensions, according to a union official.
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JP Morgan AM names Switzerland head
SWITZERLAND - JP Morgan Asset Management has appointed BZ Bank’s chief executive, Roland Vogel, as country head for Switzerland.
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Pioneer taps Morley's Yiannakou for institutions
UK - Pioneer Investments has hired Morley Fund Management's Chris Yiannakou as consultant relations manager as it seeks to boost its institutional business.
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Skanska scheme taps Standard Life for bonds
UK – The £210m (€308m) pension fund of construction company Skanska UK has invested £80m to fund a pooled specialist UK bond portfolio with Standard Life Investments.
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Skandia hands €500m equities brief to NTGI
SWEDEN – Skandia Liv has handed a €500m passive international equities mandate to Northern Trust Global Investments.
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Reuters awards custody to Bank of NY in revamp
UK - The £650m (€953m) Reuters Pension Fund, the main UK scheme of the news and data group, has awarded a custody mandate to the Bank of New York after a revamp.
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Dutch experts at odds over average premiums
NETHERLANDS - Abandoning the average pension premiums will threaten rather than improve the Dutch pensions system, says the director of the Association of Industry-wide Pension Funds, or VB.
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Schroders has €2.9bn institutional outflow
UK – Schroders has continued to lose institutional assets, with a £2bn (€2.9bn) net outflow in the first half of 2005.
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News
Florida awards $113bn master custody to Mellon
US – Florida’s State Board of Administration has awarded a $113bn (€91.7bn) master custody mandate to Mellon Global Securities Services.
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Delta Lloyd hit by €240m mandate loss
NETHERLANDS – Delta Lloyd says its flow of new investments “fell back” in the first half – partly due to the withdrawal of a €240m mandate.
