Asset Managers – Page 282
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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.
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Bank of NY and BHF in German custody venture
GERMANY – The Bank of New York and German private bank BHF-Bank have established a joint venture in Germany to provide securities custody and settlement services for asset managers and institutional investors.
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Fidelity names Benelux institutional head
BENELUX – Fidelity has appointed Vanguard’s Theo van der Meer as head of institutional business in Benelux.
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FUND FORUM: Germany piles into derivatives
MONACO - German investors have moved huge volumes of assets into the derivatives and certificates area, says Martin Theisinger, managing director for Germany and Austria at Schroders Investment Management.
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Capacity an issue for ‘unconstrained’ mandates
EUROPE – Hewitt Associates, an advocate of so-called ‘unconstrained’ mandates, has acknowledged difficulties n finding managers to run assets that are not benchmarked to an index.
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FUND FORUM: Horlick on Deutsche Asset Management
MONACO – Nicola Horlick, the high profile former Deutsche Asset Management UK fund manager, has spoken about her recent reported attempted to buy the firm.
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Petercam enters Dutch institutional market
NETHERLANDS – Belgium’s Petercam Bank has hired two staff from the Ahold pension scheme to help it enter the Dutch institutional asset management market.
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WestAM names Westen as asset allocation chief
GERMANY - Institutional fund provider WestAM KAG has hired Gunther Westen from HSBC Trinkhaus Capital Management for the new role of director of asset allocation and fund management.
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Schroders pulls JP Morgan outsourcing deal
UK – Schroders is to receive £20m (€29.5m) from JP Morgan following the failure of its five-year UK custody and fund accounting outsourcing project with the US bank.
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SWIP reviewing State Street outsourcing deal
UK – Scottish Widows Investment Partnership says it is reviewing its five-year outsourcing contract with State Street.
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Dutch schemes in $175m US real estate deal
NETHERLANDS – Pensions management company MN Services says it has entered into a real estate joint venture with US company Fairfield Residential on behalf of two Dutch pension funds.
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DeAM Germany chief Behrens quits to join Deka
GERMANY – Oliver Behrens, head of Deutsche Asset Management in Germany, is to join the management board of fund provider DekaBank.
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Fortis to buy US manager Dryden for up to €118m
US – Fortis said it has agreed to buy US asset manager Dryden Wealth Management from Prudential Financial for up to €118m, giving it an extra €9bn in assets.
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Portability proposal “could be adopted” this year
EUROPE – The European Commission says a proposed directive on pension portability could be adopted this year as part of plans to make 2006 the year of ‘European worker mobility’.
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Pioneer, BNP Paribas sign separate US fund deals
US - UniCredito's Pioneer and BNP Paribas Asset Management have both announced separate agreements to buy US fund firms today.
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WestLB enters multi-management market
UK - WestAM, the asset management arm of German bank WestLB, has brought in a former director at MM Asset Management in the UK to lead its foray into the multi-management fund business.
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Petroleum Fund in ownership rights move
NORWAY - Norges Bank Investment Management, which runs the NOK1.09trn (€134bn) Petroleum Fund, has set up a new ownership rights group to further its work on corporate governance.
