Asset Managers – Page 310
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FEFSI rejects legal action on pension directive
EUROPE – European investment fund association FEFSI says it doesn’t intend to take legal action over the European pension directive – despite earlier saying the directive is discriminatory.
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Mellon to buy currency management firm Pareto
GLOBAL – Mellon Financial Corp. is to buy the 70% of currency management firm Pareto Partners that it does not already own for an undisclosed sum.
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Mercer’s strength offsets weak Putnam - MMC
GLOBAL – Marsh & McLennan says strength in its Mercer consulting arm and Marsh insurance unit offset weakness at asset management division Putnam in the second quarter.
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Brambles awards consulting brief to Aon
UK – The Australian-headquartered Brambles group, which provides support services globally, has chosen Aon Consulting to provide pensions and actuarial consulting services to its UK subsidiaries.
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Singer & Friedlander’s Kunzer joins CSAM
UK – Richard Kunzer has left Singer & Friedlander Investment Management in the UK and re-joined Credit Suisse Asset Management.
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Pension directive impedes single market – FEFSI
EUROPE – The European investment fund association FEFSI says the European pension directive represents a “serious impediment” to the single market for financial services.
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Czech minister seeks mandatory retirement saving
CZECH REPUBLIC - The draft pension reform plan will have to contain some form of mandatory retirement savings, according to Tomas Prouza, who was recently appointed Czech deputy finance minister with responsibility for pension reform.
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ABN Amro Dutch institutional exec joins F&C
NETHERLANDS - Rob Kamphuis, account manager for institutional clients at ABN Amro in the Netherlands, has left to join F&C Netherlands.
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BAT taps SWIP for bonds
UK - The British American Tobacco UK Pension Fund has selected Scottish Widows Investment Partnership to manage a 165 million-pound (248.8 million-euro) mixed bond mandate.
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Germans still wary of pensions, says fund body
GERMANY - Awareness of pension funds in Germany is not “pronounced” among average investors, a report from the German investment fund industry association, BVI, reveals.
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UBS’ European ETF sales head Egger to leave
SWITZERLAND - Beat Egger, an executive director at UBS Global Asset Management and European sales head for exchange traded funds, is to leave the company in October.
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State Street names UK pension servicing head
UK - State Street Corp. has named Peter Baker to head of its London-based pension and collective investment servicing business.
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CSAM hires Pictet’s Hayes for pooled pensions
UK - Credit Suisse Asset Management has named Jonathan Hayes as director and head of pooled pensions business development.
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J P Morgan, Bank of NY report Q2 asset figures
US – J P Morgan Chase and the Bank of New York have both reported second-quarter assets under management and assets under custody figures.
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J P Morgan to buy hedge fund admin firm Tranaut
GLOBAL – J P Morgan says it has agreed to buy privately owned hedge fund administration services firm Tranaut Fund Administration.
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BP Investments' Pidcock joins Newton
UK - Newton Investment Management says it has hired Jason Pidcock, a fund manager from BP Investment Management, the firm which manages the pension assets of oil firm BP.
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UK insurer applies for Irish CCF – agency
GLOBAL - A UK insurance company, as well as a multinational company, are in the process of applying to the Irish Financial Services Regulatory Authority to launch a tax-transparent Common Contractual Fund, Ireland’s Investment and Development Agency says.
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Investec equities managers leave in pay row
UK - Investec Asset Management says five equities managers have left after their request for an equity stake in the business was refused.
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New TIAA-CREF institutional arm to eye Europe
EUROPE – The new institutional asset management arm of US education retirement system TIAA-CREF will have a presence in Europe before too long, says one of its top executives.
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Morgan Stanley IM makes UK appointments
UK - Morgan Stanley Investment Management has made two appointments to its UK institutional team.
