Asset Managers – Page 315
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J P Morgan names transition management head
EUROPE – J P Morgan says it has hired John Minderides from ITG to be head of its transition management business in Europe, the Middle East and Africa.
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UK’s Paul Myners named interim chair at M&S
UK – Paul Myners, the former chairman of Gartmore who wrote a report on institutional investment for the government, has been named interim chairman of Marks & Spencer as it fends off a takeover bid.
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Luxembourg and Ireland have “edge” on pensions pooling - consultant
EUROPE - Luxemburg and Ireland have “an edge” with double taxation treaties, the legislation for pensions investment pooling vehicles, according to a leading pension consultant.
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AP1 issues clarification about hedge fund plans
SWEDEN – AP1 says recent press statements about it moving into hedge funds are “misleading” and that it will not start reviewing hedge funds until 2005 for possible investment.
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AP3 names stock exchange president as CEO
SWEDEN – The 142 billion-crown (15.6 billion-euro) Tredje AP-fonden has named Kerstin Hessius, president of the Stockholm stock exchange, to replace Tomas Nicolin as chief executive.
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Mellon Global names head of consultant relations
UK - Mellon Global Investments has named William Battersby as head of consultant relations, reporting to Pauline Stuart, head of institutional business in Europe.
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Dexia says European SRI market reaching maturity
EUROPE - Dexia Asset Management says the continental European market for socially responsible investments is reaching maturity - and is catching up with the UK.
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UK unions call for voting transparency
UK – The umbrella body for unions in the UK, the Trades Union Congress, has called for greater voting transparency.
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UK’s Durham appoints actuary, seeks advisers
UK - The 850 million-pound (1.23 billion-euros) Durham County Council Pension Fund has appointed Hewitt Bacon & Woodrow as scheme actuary and says it is looking for advisers.
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UBS boosts UK corporate pension fund sales
UK – UBS Global Asset Management has hired Howard Nowell from KPMG as director of institution corporate marketing in the UK.
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CSAM names Burgess as Europe equities head
EUROPE - Credit Suisse Asset Management has named Insight Investments' Mark Burgess as global co-head of equities, focusing on Europe and Asia.
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FundPartners consultant joins State Street arm
EUROPE - State Street's Princeton Financial Systems says it has hired a consultant from Netherlands-based pensions consulting firm FundPartners.
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ADAM Nordic sales head joins Martin Currie
EUROPE – Martin Currie says it has hired Allianz Dresdner Asset Management’s head of Nordic sales, Simon Barrett.
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Fortis Investments’ operating profit falls 9%
EUROPE – Fortis Investments’ net operating profit fell nine percent in the first quarter – although assets under management rose four percent.
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Firms back European pension directive – Hewitt
EUROPE – Multinational companies in Europe “would welcome” the opportunity to have a single fund to finance their European Union-based pension obligations, according to a new survey by Hewitt Associates.
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ABN Amro Mellon's Depotbank arm gains assets
NETHERLANDS - ABN Amro Mellon’s Depotbank arm in Germany has won two billion euros in business since its launch in January, the head of German operations said.
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Munsters has cheap E1m mortgage with PGGM
NETHERLANDS – Roderick Munsters, chief investment officer of 53 billion-euro Dutch healthcare fund PGGM, has a discounted mortgage loan of almost one million euros with the fund.
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Norway’s Petroleum Fund grows to E111bn
NORWAY – The Petroleum Fund has grown to 915.3 billion crowns (111.2 billion euros), following a return of 2.9% in the first quarter.
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Dispute over size of French SRI market
FRANCE – A dispute has emerged over the size of the French SRI market, with estimates that the market is worth up to 4.5 billion euros criticised as “Alice in Wonderland”.
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Lancashire awards custody amid wider revamp
UK - The 2.4 billion-pound (3.56 billion-euro) Lancashire County Council Pension Fund says it will appoint ABN Amro Mellon as its custodian.
