Asset Managers – Page 293
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New consolidation moves in Iceland
ICELAND -- Two mergers of Icelandic pension funds have been proposed while the possibility of a third is being discussed.
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Banque Nagelmackers’ Sabine Riga joins ING
BELGIUM – Sabine Riga, formerly portfolio manager for institutional clients with Banque Nagelmackers, has joined ING Investment Management as head of marketing and sales institutional clients, Belgium.
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Putnam’s investment head Oristaglio retires
US - Steve Oristaglio is to retire as head of investments at Putnam Investments and be replaced by his deputy Kevin Cronin.
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Assets surge NIB’s asset management arm
NETHERLANDS – NIB Capital, the bank owned by the two largest Dutch pension funds ABP and PGGM, said assets under management at its investment management unit rose 70% in 2004.
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Werner joins SAM Group
SWITZERLAND --SAM Group, a Swiss asset manager specialising in sustainable investing, has appointed Christian Werner as its new head of research.
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Ex-Isis institutional chief joins boutique
UK - Howard Daldorph, the former director of institutional funds for ISIS, has joined a boutique called Reabourne Technology Investment Management as marketing director, a new role.
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Germany’s BVI sees more institutional outsourcing
GERMANY - Providers of German institutional funds, or Spezialfonds, are increasingly outsourcing the management of their assets, according to new statistics from the BVI, Germany’s fund industry association.
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ING IM Europe to avoid UK, for now - Kemna
SWITZERLAND - ING Investment Management Europe is not prepared to enter the UK market at the moment because its regulations are too complicated, says chief executive Angelien Kemna.
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Barclays Global Investors’ AUM up €161.5bn
UK – Barclays Global Investors’ assets under management at the end of last year rose 19% - or £111bn (€161.5bn) – to £709bn, from £598bn at the end of 2003.
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Watson Wyatt restructures Stockholm office
SWEDEN – Watson Wyatt says it is restructuring its Stockholm-based benefits consulting team – with some staff being based in the UK in future.
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Dutch central bank confirms FTK on schedule
NETHERLANDS – The Dutch central bank has reaffirmed that the FTK, the new financial assessment framework for pension schemes, will come in as planned on January 1 2006.
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JP Morgan to hire new UK institutional staff
UK - JP Morgan Fleming Asset Management says it is looking to hire new staff in the UK this year amid a 13% growth in assets under management.
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UBS says institutional business almost doubles
SWITZERLAND –UBS said its Global Asset Management arm reported a pre-tax profit increase of 64% in 2004 and that institutional business almost doubled.
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Ireland’s CFOPS outlines shift to specialists
IRELAND – The administrator of the €540m Construction Federation Operatives Pension Scheme has outlined the scheme’s move from balanced managers to specialists.
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Ireland sees no scope for pensions complacency
IRELAND – The head of the Irish central bank has said that the country must not get complacent about how it deals with the pensions crisis.
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Deutsche denies it plans to sell DeAM in UK
GERMANY - Deutsche Bank has poured cold water on speculation in London that it is on the verge of selling all or part of Deutsche Asset Management in the UK, stressing that its first priority is “to fix the business”.
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ABN Amro AM lost almost 10% of staff in 2004
NETHERLANDS – ABN Amro Asset Management’s staff numbers fell almost 10% in 2004 amid a levelling off of assets under management.
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Sanofi-Aventis’ pension chief Zamagna leaves
GLOBAL - Petra Zamagna, head of benefits finance and asset management for pension and saving plans at pharmaceuticals group Sanofi-Aventis, has stepped down as she prepares to leave the company.
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French SRI market doubles in two years - survey
FRANCE - Assets of ethical funds in the French market have more than doubled in the past two years, according to socially responsible investing consultant Novethic.
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Credit Suisse property fund tops volume target
SWITZERLAND – Credit Suisse said its new International Real Estate Fund has exceeded its original issue volume target of CHF500m (€322m) by 17%.
