Asset Managers – Page 295
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Germany rules out mandatory pension saving
GERMANY - The government has ruled out the possibility of private saving for retirement in Germany becoming mandatory, saying its pension reforms of 2001 and 2004 should be sufficient.
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Commerzbank names new asset management head
GERMANY - Commerzbank, Germany’s fourth-largest bank, has appointed Achim Kassow as its new head of asset management operations, effective from April 1.
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Iceland: unskilled workers’ scheme CIO resigns
ICELAND - Bjarni Brynólfsson, managing director and chief investment officer of Icelandic unskilled workers’ pension fund Framsyn, has resigned to take up the post as chief investment officer of investment company Meidur.
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State Street names Harbert’s successor at SSGA
GLOBAL – State Street Corp. has named William Hunt, who currently manages its largest client relationships, to replace Tim Harbert as chief executive of State Street Global Advisors.
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Fortis CEO eyes acquisitions and partnerships
EUROPE – Jean-Paul Votron, the new chief executive of Fortis, says the company plans “selective acquisitions and partnerships” in Europe in a bid to boost growth.
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Germany’s Metzler sees boom in master funds
GERMANY - A boom in so-called “master funds” should enable Germany’s Metzler Asset Management to grow its institutional assets under management in 2005 about as fast as they did in 2004, one of its executives says.
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UK: AEGON nabs ABN Amro AM CIO Fleming
UK - AEGON Asset Management has named ABN Amro’s Andrew Fleming as chief investment officer for its 50-strong investment team following a shake-up of top management.
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MP quizzes Swiss postal scheme
SWITZERLAND- A Swiss MP who last month questioned finance minister Hans-Rudolf Merz on the Pensionskasse Post postal scheme has said he is prepared continue the debate.
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Mercer president Coster exits amid revamp
GLOBAL – Mercer’s president Peter Coster is retiring from the firm months after being removed from the board of parent company Marsh & McLennan Companies.
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Watson Wyatt Ireland hires ex-E&Y economist
IRELAND – Watson Wyatt says it has hired a former chief economist at Ernst & Young, Paul Droop, to be a senior investment consultant in its Dublin office.
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Campina scheme appoints fiduciary manager
NETHERLANDS - The pension fund of Dutch cooperative dairy giant Campina has appointed Goldman Sachs Asset Management as fiduciary manager of a €350m mandate.
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WestAM names new CEO amid institutional push
GERMANY - German institutional fund provider WestAM KAG has appointed a new chief executive and expanded its management board in a bid to invigorate its institutional business in Germany.
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PGGM names Bos as Munsters’ successor
NETHERLANDS – PGGM, Hollland’s second-largest pension fund, has appointed Else Bos as chief investment officer and executive director – taking over from Roderick Munsters, who is joining ABP.
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France’s €5bn Cancava in scheme revamp
FRANCE – The €5bn pension fund Caisse Nationale d’Assurances Vieillesse des Artisans, Cancava, has appointed 10 equity managers amid a revamp which saw eight of its former managers dismissed over poor performance.
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Shift to specialists slows down – Russell/Mellon
UK – The shift from balanced to specialist investment management, which has taken place among pension funds in the last 10 years, is slowing down Russell/Mellon says.
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Asset managers call for pension tax consistency
EUROPE – There has been a new call for consistency in European pension taxation, this time in a report prepared by asset management industry figures.
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Canadian scheme backs Luxembourg’s Honsel
LUXEMBOURG – Ontario-based public pension scheme OMERS has made a US$40.6m (E35m) investment in Luxembourg-based car industry supplier Honsel International Technologies.
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Lothian scheme reappoints Hymans Robertson
UK – The £2bn (€2.85bn) Lothian Pension Scheme has reappointed Hymans Robertson to provide actuarial and investment consulting services.
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Baillie Gifford gets Welsh £340m equity mandate
UK -- The £1bn (€1.44bn) Rhondda Cynon Taf Pension Fund has awarded a £340m UK and global equity mandate to Baillie Gifford & Co. The mandate was formerly managed by Deutsche Asset Management (DeAM).
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ING IM taps Bank of NY for middle office
NETHERLANDS - ING Investment Management has signed a letter of intent for the Bank of New York covering to provide middle office trade and processing outsourcing.
