Asset Managers – Page 284
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State Street ‘could double Ireland workforce’
IRELAND – State Street Corp. could eventually employ up to 2,000 people in Ireland, the Boston-based bank’s chief executive Ron Logue has been quoted as saying.
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Hewitt boosted by international revenues
GLOBAL – Hewitt Associates has reported stronger profit and revenue at its consulting division in the third quarter, driven by growth outside its North American base.
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Essex scheme set to change asset allocation
UK – The more than £2bn (€2.9bn) Essex County Council Pension Fund says it is poised to change its asset allocation as soon as possible.
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Barclays Global Investors gains €47bn of assets
GLOBAL – Barclays Global Investors gained £33bn (€47bn) of net new assets in the first half of 2005, parent Barclays Plc said in its earnings statement.
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Pearson pension scheme manager retires
UK – Pam Jenkins, secretary and manager of the £1bn (€1.5bn) defined benefit group pension of publishing group Pearson, has retired.
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Schroders’ Zerner joins Lazard AM as marketer
UK - Lazard Asset Management has appointed Schroder Investment Management’s Mary Zerner as head of central marketing services.
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Britannic AM makes international hire
GLOBAL - Britannic Asset Management has appointed Michael Borkan, senior vice-president at Sinopia Asset Management, to develop its institutional and retail distribution outside the UK.
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Shake-up at Nestlé’s Irish fund arm Robusta
IRELAND – Three pension executives of Swiss food group Nestlé have joined the board at Irish Stock Exchange-listed Robusta Asset Management Ltd.
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SNS Asset Management rejigs sustainable approach
NETHERLANDS – SNS Asset Management, the institutional arm of the SNS Reaal Group, says it plans to change the way it researches sustainable investing.
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PGGM first to introduce improved statement
NETHERLANDS – Dutch healthcare scheme PGGM says it is the first in the country to introduce a new and more transparent statement of pension rights for its clients.
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Dutch painters scheme puts €225m with Altera
NETHERLANDS – Altera Vastgoed says it has been awarded €225m of real estate assets by the Dutch painting industry fund BPF Schilders.
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SGAM gets €11.6bn in inflows in second quarter
FRANCE – Société Générale Asset Management gained €11.6bn in net inflows in the second quarter, which works out at a 12% annualised growth rate.
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Credit Suisse says CSAM had Q2 asset outflow
SWITZERLAND – Swiss banking group Credit Suisse says its Credit Suisse Asset Management arm lost a net CHF200m (€128.4m) in assets under management in the second quarter.
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Commerzbank asset management earnings tumble
GERMANY – First-half earnings at Commerzbank’s asset management division fell by almost half amid a steep rise in operating costs due to stock options for top executives.
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ABP continues UK real estate moves
UK/NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s largest pension fund, has continued to buy into UK real estate firms, according to company filings.
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Mercer multi-management gets “excellent” response
US – Mercer Human Resource Consulting has had an “excellent” response from US clients for its new multi-management offering, says parent firm Marsh & McLennan Cos.
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MN Services’ legal head Pelle moves on
NETHERLANDS – MN Services’ head of legal and fiscal affairs, Willem-Jan Pelle, is moving on after 11 years with the pension management company.
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Standard Life under scrutiny at South Yorkshire
UK – The £2.8bn (€4bn) South Yorkshire Pension Fund is seeking an advisor for a £220m commercial property portfolio – putting incumbent Standard Life Investments under scrutiny.
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ABN Amro sees asset outflow amid review
NETHERLANDS – Dutch banking group ABN Amro says there may be an outflow of assets under management as it reviews the profitability of some mandates and products.
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Staffordshire scheme revamps managers
UK – The £1.7bn (€2.5bn) Staffordshire County Council Pension Fund has revealed a sweeping revamp of its investment manager roster.
