Asset Managers – Page 280
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Julius Baer may sell custody arm - Merrill
SWITZERLAND – Julius Baer may sell its custody business, according to a Merrill Lynch research report following the changes announced last week at the Swiss bank.
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Morgan Stanley asset management chief exits
GLOBAL – Morgan Stanley says Mitchell Merin is to retire as president and chief operating officer of its investment management arm.
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ECB’s Trichet backs asset management regulation
EUROPE – Jean-Claude Trichet, the president of the European Central Bank, says the ECB backs the idea of “regulatory intervention” in asset management.
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Dutch FTK makes pensions clear, minister says
NETHERLANDS – Dutch pensions minister Aart Jan de Geus has defended the delayed financial assessment framework, or FTK, saying it helps to remove the industry’s “secret code”.
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Buhrmann switches administration to Blue Sky
NETHERLANDS – The €775m corporate pension fund of Amsterdam-based office products supplier Burhmann is to switch its pension administration and management support to the Blue Sky Group.
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Uhlmann joins INDEXCHANGE board
GERMANY – European exchange traded funds leader, INDEXCHANGE Investment, has appointed dbi’s Thomas Uhlmann to its management board in a strategic strengthening of its international sales body.
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GES launches new client interface
EUROPE -- Stockholm-based SRI analysis house GES Investment Services is to launching a web-based extension to its active engagement service that will enable its institutional investor clients to become more involved in the engagement process.
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F&C CEO exits amid outflows, outsourcing delay
UK – F&C Asset Management says its chief executive Howard Carter is to retire and be replaced by former institutional chief Alain Grisay.
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Caulfield takes over as Mercer president
GLOBAL – Michael Caulfield has been appointed president of Mercer Human Resource Consulting, taking over from Brian Storms who has become chief executive of sister firm Marsh Inc.
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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.
