Asset Managers – Page 306
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PKA awards E81m Japanese brief to SSGA
DENMARK - The 9.7 billion-euro Danish administration company for occupational pension funds Pensionskassernes Administration has awarded State Street Global Advisors a 100 million-dollar (81.7 million-euro) active Japanese equity mandate.
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Austria considers civil service pension fund
AUSTRIA - The Austrian pension market could be boosted by up to 100,000 new pension scheme members with the cabinet poised to consider a draft to set up a pension fund for civil servants.
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Reuters’ ex-asset management chief quits
UK – Jane Platt, former president of asset management at information group Reuters, says she will leave the company at the end of October.
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Global finance chiefs reviewing hedge funds
GLOBAL – The central bankers, regulators and international bodies that comprise the Financial Stability Forum say they are scrutinizing the impact of hedge fund inflows on markets and institutions’ risk.
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List of this week’s UK pension fund disclosures
UK – The following are UK pension funds’ holdings in companies that have been disclosed this week under the Financial Services Authority’s stock market listing rules.
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Swiss social fund names CL exec as controller
SWITZERLAND- The Swiss Social Security Compensation Pension Fund AHV has hired Bettina Viedma of Credit Lyonnais Securities as its new investment controller.
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Swiss AHV investment head Kuttler joins Citigroup
SWITZERLAND - Philippe Kuttler, a top official of the Swiss Social Security Pension Fund AHV, has joined Citigroup Asset Management to lead business development in the Swiss market.
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Santander fires asset management CEO Picon
SPAIN - Grupo Santander has fired the head of its asset management business. Ismael Picon had been chief executive of Santander Asset Management for two years and he had worked for the bank since 1993.
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Ex-SPF CIO Groeneveld joins medical fund
NETHERLANDS - Ton Groeneveld, the former chief investment officer at Dutch railways scheme SPF Beheer has joined the 10.5 billion-euro medical scheme SBA on an interim basis as head of asset management.
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KAS Bank says first half profit rises 7%
NETHERLANDS – KAS Bank says its first-half net profit rose seven percent to 8.8 million euros from 8.2 million euros a year ago, with the company forescasting a “healthy profit recovery”.
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Asset management back-office deals set to grow
EUROPE – The market for outsourcing back office functions in the European asset management industry will reach 758 million dollars (622.5 million euros) by 2006, says Datamonitor.
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ABP equities chief Straatman gains fixed income
NETHERLANDS – ABP Investments, the asset management arm of Europe’s largest pension fund, has rotated the responsibilities of its board of directors – with equities chief Jan Straatman also gaining responsibility for fixed income.
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Aon enters Swedish pension consulting market
SWEDEN – Aon Consulting says it has entered the Swedish pension consulting market – aiming to become market leader by 2007.
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Credit Agricole AM in E12bn asset boost
FRANCE – Assets under management at Credit Agricole‘s asset management business rose by 12 billion euros in the fist half – boosted by institutional and corporate inflows.
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Schroders Benelux MD van Daalen leaves
BENELUX – Pieter van Daalen, managing director of Schroders Investment Management Benelux, has left the company.
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UK’s RBS hires consultants for European pensions
UK – The Royal Bank of Scotland has hired consultants from Mercer Investment Consulting and Milliman UK to boost its UK and European Insurance and Pensions Group.
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UK’s FSA names Huertas to oversee asset managers
UK – The UK’s main financial regulator, the Financial Services Authority, has named Citigroup transaction services executive Thomas Huertas to oversee wholesale and institutional markets such as asset management.
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DeAM’s Copley joins Mellon's European fund arm
EUROPE – Mellon Corp.’s European investment administration arm has hired David Copley from Deutsche Asset Management.
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Schroders loses out to Muzinch at Hoover
UK - The pension scheme of domestic appliance maker Hoover has awarded its first international cross-over corporate bond mandate worth 18 million pounds (26.5 million euros) to Muzinich – resulting in a loss for Schroders.
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Rabobank asset management profit falls 6%
NETHERLANDS – Rabobank says its asset management activities’ pre-tax operating profit fell six percent to 80 million euros in the first half of 2004.
