Asset Managers – Page 283
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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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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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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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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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Putnam institutional chief Boneparth retires
GLOBAL – John Boneparth, head of global institutional management at Putnam Investments, is to retire in September.
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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.
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DeAM replaced at UK charities foundation
UK – The UK Charities Aid Foundation has replaced Deutsche Asset Management, manager of its two biggest collective investment schemes worth a total of £500m (€751m), with UBS Global Asset Management and Insight Investment.
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Fortis offers €1.6bn for NIB Capital, paper says
NETHERLANDS – Banking and insurance group Fortis has offered €1.6bn for NIB Capital, the bank owned by the two largest Dutch pension funds, according to Dutch daily Het Financieele Dagblad.
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Dutch building schemes in €21bn merger
NETHERLANDS – The Dutch building industry pension fund managers ASW and Cordares have agreed to merge to create an entity with €21bn in assets.
