Asset Managers – Page 306
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Jobs safe as State Street exits German KAG biz
GERMANY - State Street Global Advisors is to exit the German KAG investment trust business, citing regulatory changes, to focus on asset management.
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EU’s McCreevy eyes asset management legislation
EUROPE – Charlie McCreevy, the European Commission’s incoming internal markets chief, says “targeted legislative action” in asset management and other areas may be appropriate.
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Kodak pension scheme gets property boost
UK – The one-billion-pound (1.46 billion-euro) Kodak Ltd. Pension Plan has seen the real-estate assets in its joint venture with property firm Halladale almost double in a year, according to company documents.
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Citigroup loses AP1 custody to ABN Amro Mellon
SWEDEN - Första AP-Fonden, the First Swedish National Pension Fund or AP1, has awarded a 148 billion-crown (16 billion-euro) global custody brief to ABN Amro Mellon, resulting in a loss for Citigroup, which had held the mandate for 10 years.
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Deutsche names European real estate research head
EUROPE – Deutsche Bank’s real estate arm has named Peter Hobbs as head of European real estate research.
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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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Robeco seeking CIO as Vriezen quits
NETHERLANDS – Marnix Vriezen, chief investment officer of Robeco for just over a year, has left the company amid a management shakeout by new chief executive George Möller.
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Aegon denies Fortis pension outsourcing claim
NETHERLANDS – Aegon Nederland has denied a claim by Fortis Investments that it has opted for the latter’s products as part of a pensions outsourcing move.
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ADAM opens institutional office in Zurich
SWITZERLAND - Allianz Dresdner Asset Management says it has opened an office in Zurich focused on institutional clients – saying a “dynamic change” is happening in the market.
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Hewitt and Watson hire from Aon and ISIS
UK – Hewitt Bacon & Woodrow and Watson Wyatt LLP have both made senior appointments in the UK, hiring from Aon Consulting and ISIS Asset Management respectively.
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INTERVIEW: UniCredito CEO on Italian pensions
ITALY - Alessandro Profumo, the chief executive of Italian bank UniCredito Italiano Group, has outlined to IPE in an interview the way forward for Italian occupational pensions.
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Hermes, DeAM officials join UK accounting board
UK – Tony Good, the former head of investment research at Norwich Union Investment Management who is now with Hermes, has joined the UK’s accounting standard Board – along with Peter Westlake of Deutsche Asset Management.
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NAPF sees “no evidence” of short-termism
UK – The head of the National Association of Pension Funds says there is “no evidence” that asset managers are fired for poor short-term performance.
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Molenaar to head Robeco Asset Management
NETHERLANDS – Robeco has named Niek Molenaar as head of Robeco Asset Management as part of a revamp that has left marketing head Hans van der Koogh ousted from the firm’s top level.
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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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News
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.
