Asset Managers – Page 294
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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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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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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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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%.
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Deutsche chief says DeAM UK “under review”
EUROPE - Josef Ackermann, chief executive of Deutsche Bank, has signalled that Deutsche Asset Management in the UK is “under review” and could be sold if the bank fails to restructure the embattled business by the end of the current quarter.
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BNP Paribas aims to raise AUM by €50bn
FRANCE – BNP Paribas is targeting a €50bn increase in assets under management by 2007 – coming on top of an 8.3% rise in AUM last year.
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Janus boosts German sales team
GERMANY - Janus Capital Group has appointed Thomas Döring to the new position of sales director for the German-speaking countries, effective from 1 February.
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Anglo Irish launches Isle of Man schemes
ISLE OF MAN – Anglo Irish Bank’s Isle of Man pension arm says it has launched “tax neutral” plans for international executives and multinational firms.
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Aasnæs replaces Åkerstedt as Storebrand MD
NORWAY – Storebrand Investments, the asset management arm of Norway’s Storebrand, has named Hans Aasnæs to replace managing director Allan Åkerstedt, who resigned last month.
