Asset Managers – Page 282
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Watson consultant van Zoelen joins PIMCO
EUROPE – Bond specialist PIMCO, part of Allianz, says it has hired Watson Wyatt investment consultant Henk-Jan van Zoelen.
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MLIM’s Doll sees ‘halo effect’ of Philips deal
NETHERLANDS – Bob Doll, president and chief investment officer of Merrill Lynch Investment Managers, has spoken of the “halo effect” its deal to manage €12bn of Philips pension assets could have for the firm.
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Towers Perrin buys German consulting firm Rauser
GERMANY - International consulting firm Towers Perrin has agreed to buy German occupational pensions advisor Rauser AG for an undisclosed sum.
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Watson's Thornton in share sale (Update)
GLOBAL – Paul Thornton, European senior partner at consulting firm Watson Wyatt, has sold $2.63m (€2.2m) worth of shares in the company (Updates with clarification).
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SRI up 128% at French institutions
FRANCE – French institutional investors’ allocation to socially responsible investments (SRI), has grown 128% in the last 12 months according to a study by Novethic, a subsidiary by Caisse des dépôts et consignations (CDC).
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Northern Trust set to open Amsterdam office
NETHERLANDS – Northern Trust says it is aiming to open an office in Amsterdam within the first quarter of 2006.
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US custodians unveil second-quarter figures
US – Three large US securities services specialists, Northern Trust, Mellon Financial and the Bank of New York, have released second quarter assets under custody figures.
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Supervisory convergence key for CEIOPS – Trichet
EUROPE – The success of the EU committee of pensions supervisors, CEIOPS, will be judged on how it achieves “supervisory convergence” says European Central Bank president Jean-Claude Trichet.
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Denmark’s PKA grows to more than €13bn
DENMARK – Pensionskassernes Administration, the third largest pension provider in Denmark, says its first-half return of 12.1% has taken its market value to more than DKK100bn (€13.3bn).
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State Street earnings flat as expenses rise
US – State Street Corp. has reported flat second-quarter earnings as expenses have risen by 8% to more than $1bn (€835m).
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European fund body EFAMA looking for new head
EUROPE – The European Fund and Asset Management Association is looking to hire a new director general to take over from Steffen Matthias when he retires.
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EU says fund proposals to aid pension crisis
EUROPE – The European Commission says new investment fund proposals released today will help tackle the continent’s pensions crisis.
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Irish reserve fund commits €3bn to private equity
IRELAND – The €13.5bn Irish National Pensions Reserve Fund says it plans to commit around €3bn to private equity in the next five years or so.
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JP Morgan unveils performance measurement system
GLOBAL – JP Morgan has launched a new performance measurement system for clients such as pension funds, asset managers and insurers.
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Achmea under scrutiny at Dutch metals fund PME
NETHERLANDS – Common pension management firm PVF Achmea is under scrutiny at €16bn Dutch metals industry pension scheme PME, Bedrijfstakpensioenfonds Metalektro, which is looking at costs and service standards.
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Germany implements pension fund directive
GERMANY - Germany has implemented the EU directive on occupational pension funds more than two months before the September 23 deadline following a parliamentary vote on Friday.
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Dutch rail scheme joins broker research group
NETHERLANDS – SPF Beheer, which manages €10bn for the Dutch railways pension fund, has joined the Enhanced Analytics Initiative – which seeks to improve brokerage research.
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Lehman names European asset management head
EUROPE – Investment banking group Lehman Brothers has hired former Credit Agricole executive Thierry Sciard as head of investment management for Europe, a new role.
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Dutch textiles and clothing schemes to merge
NETHERLANDS - The industry-wide pension funds for the textile and ready-made clothing sectors plan to merger, the schemes said in a statement.
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Analysts welcome Deutsche Asset Management exit
UK - Deutsche Bank watchers have welcomed this morning’s announcement that virtually all of Deutsche Asset Management in the UK will be sold to rival Aberdeen, noting that the move gives Deutsche an elegant exit from the business.
