Asset Managers – Page 307
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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.
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Legg Mason plans European expansion
FRANCE - Legg Mason Investments says it has opened a Paris representative office - to be followed by similar moves in Germany and elsewhere in Europe.
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France: BNP, Dexia vie for top SRI slot - report
FRANCE - BNP Paribas and Dexia are vying for first place in the French socially responsible investing market, consulting firm Novethic said.
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Northern boosts European transition management
EUROPE - Northern Trust Global Investments says it has former Instinet executive Simon Hutchinson as strategist for transition management in Europe.
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ING named as manager fired by SFN (Update)
(Updates with name of manager) NETHERLANDS - Stichting Flexibel Uittreden Nutsbedrijven, the 348 million-euro fund for the Dutch utility sector, has withdrawn a 175 million-euro balanced mandate from ING Investment Managment and handed it to Barclays Global Investors.
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CalPERS buys into German real estate
GERMANY – CalPERS, the largest US pension fund at 166.3 billion dollars (136.8 billion euros), has bought a commercial property in Frankfurt for 14 million dollars.
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Rona replaces Marin as Invesco Spain chief
SPAIN – Invesco Asset Management Spain has named Miguel Rona as its new general director, replacing Juan Marin who is joining Fortis Investments.
