Asset Managers – Page 284
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News
Citigroup exits asset management business
GLOBAL – Citigroup has confirmed it is exiting the asset management business in a $3.7bn (€3.1bn) deal with Legg Mason.
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Henderson names Germany sales head
GERMANY - Henderson Global Investors has named Uwe Diehl to head of sales for Germany and Austria.
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Irish, Dutch schemes in German real estate move
GERMANY – Irish and Dutch pension funds are among the backers who’ve put $140m (€116.2m) into a German residential real estate venture called DeWAG.
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Asset managers want hedge fund tax debate
UK – The UK’s asset management trade body has called for a debate about the tax position of hedge funds.
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Cerulli sees multi-manager demand in Germany
GERMANY - Investor demand for multi-manager funds in Germany increased more than three-fold in 2004, taking total volume for the funds to €414m, a new study by Cerulli Associates shows.
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Gartmore promotes Meyer to Europe CEO
EUROPE – Gartmore Investment Management has appointed Jeff Meyer, its US-based global chief financial officer, to the new role of chief executive officer for Europe.
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€1.3bn UK plumbing scheme fires Mercer
UK – Consulting firm Mercer has lost the investment consulting and scheme actuary roles at the £900m (€1.3bn) scheme for the plumbing industry.
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Morgan Stanley asset management profit slips 16%
GLOBAL – Second-quarter pre-tax income at Morgan Stanley Investment Management fell 16% to $175m (€144m) from $209m a year before.
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Germany's WestAM CEO sees asset boost
GERMANY - Institutional fund provider WestAM expects to raise its assets under management to €40bn at the end of 2007 from just under €27bn currently, its chief executive says.
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Barclays Global Investors names operating chief
GLOBAL – Barclays Global Investors has named Boston Consulting’s Rohit Bhagat as its new chief operating officer.
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Akzo Nobel may outsource €4bn pension assets
NETHERLANDS – Dutch healthcare, coatings and chemicals group Akzo Nobel is understood to be looking to outsource its pension responsibilities in a Philips-style deal.
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Fund body EFAMA names new president
EUROPE – Investment fund association EFAMA has appointed a new president and vice president.
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DeAM loses Lincolnshire brief to Martin Currie
UK – Deutsche Asset Management has lost an active UK equity brief to Martin Currie Investment Management after the £840m (€1.2bn) Lincolnshire County Council pension fund changed its performance target.
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Alecta real estate manager joins Schroders
SWEDEN - The manager of Swedish pension fund Alecta’s European real estate portfolio is leaving to join Schroder Property Investment Management.
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Fund distributor Allfunds opens UK office
UK – Allfunds, an investment fund distributor co-owned by Spain’s Grupo Santander and Italy’s Sanpaolo-IMI, has opened an office in London under former Abbey executive Holly Mackay.
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France’s FRR calls managers to SRI meeting
FRANCE – The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, is planning to meet asset managers about socially responsible investing later this month.
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MN Services changes management structure
NETHERLANDS – Dutch pension manager MN Services has named Wouter Pelser as co-head of asset management in a bid to enhance efficiency.
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US Prudential names international sales head
GLOBAL – Denis Chatterton has been named head of global sales and marketing for Prudential Financial’s International Investments business.
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Handbook flags directive’s impact on hedge funds
IRELAND – The European savings directive on the funds industry will have an impact on Hedge funds and hedge fund of funds, according to a handbook from Dublin- and London-based funds consultancy Carne Global Financial Services.
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Mercer hires MLIM’s Williams for investment biz
UK – Mercer Investment Consulting says it has hired Cara Williams from Merrill Lynch Investment Managers in New York.
