Asset Managers – Page 316
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Railpen names Johnson as finance director
UK - The 14 billion-pound (20.8 billion-euro) Railways Pension Trustee Co. has appointed Frank Johnson as finance director following the retirement of Malcolm Gray.
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Swedish pension market in midst of restructure
SWEDEN - The crisis in the Swedish mutual life insurance market is leading to a shake-up in the pensions industry, Alex Inkapool writes.
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Jobs to go as ISIS buys F&C Management
EUROPE – An unspecified number of jobs are set to go with the acquisition by Friends Provident’s ISIS Asset Management of F&C Management from Eureko, which values the deal at more than a billion euros.
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Germany: Sihler’s DeAM bond team joins UBS
GERMANY – Joerg Sihler, head of fixed income at Deutsche Asset Management in Frankfurt, and his team have moved to UBS Global Asset Management.
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UK coal scheme aligns with BTPS on governance
UK – The 10 billion-pound (14.9 billion-euro) British Coal Staff Superannuation Scheme has aligned with the BT Pension Scheme on governance issues, with an outsourcing deal with Hermes.
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France’s FRR awards transition management brief
FRANCE – The French reserve fund, the Fonds de réserve pour les retraites, has awarded a transition management mandate to Goldman Sachs International for three years.
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CLAM name disappears in merger
EUROPE – The Crédit Lyonnais Asset Management names is set to disappear with the regulatory approval of the merger between Crédit Agricole Asset Management and CLAM.
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Petroleum Fund resumes foreign currency buying
NORWAY – Higher oil prices have led Norges Bank to resume the purchase of foreign currency for the 915.3 billion-crown (111.2 billion-euros) Petroleum Fund from next month.
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ABN Amro Mellon names European sales head
UK - ABN Amro Mellon has appointed Peter Adams to head its European sales division which targets the pensions, asset management, charities and local authority markets.
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PGGM gives Aegon its largest-ever win with €1bn
NETHERLANDS – The €55bn PGGM pension fund has given Aegon The Netherlands a €1bn mandate for European government bonds, its largest-ever win and a sign of a change within the investment management style of large pension funds.
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Fortis swoops on Barings' small caps team
UK- Fortis Investments has hired a team of four European Small Caps investment managers from ING’s subsidiary Baring Asset Management, as it seeks expertise in the class that it says will “thrive”.
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SEB to buy Denmark's Codan for about €400m
DENMARK – Swedish financial services provider SEB has announced the planned acquisition of Denmark’s fourth largest life and pensions company, Codan, for an estimated €400m.
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Gyllenhammer calls for portable pensions in Europe
EUROPE - Pehr Gyllenhammer, the chairman of the European Financial Services Round Table (EFR) of leading product providers and Aviva, has said pensions is one of the three the“ key areas” on which the European Commission should concentrate to bring about a single market.
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BGI recruits Stan Beckers for active equities
UK - Barclays Global Investors (BGI) has appointed Stan Beckers to the new position of senior investment strategist within its £30bn (€44.8 bn) European active equity business.
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Fortis appoints John Brown for insitutional sales
GLOBAL - Fortis Investments, the €81bn asset management arm of Belgium financial services company Fortis Group, has appointed John Brown director of institutional sales for the US market.
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Italy's Previndai fund to restructure and offer mandates
ITALY- The €2bn pension fund of industrial managers, Fondo Pensione Previndai, is to create two portfolios run by five external equity and bond fund managers as an alternative to its insurance contracts.
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CalPERS earns $98.4m (€81.2m) from stock lending
US – CalPERS has earned $98.4m (€81.2m) from lending out about two-thirds of its securities in one year and is moving further into enhanced index strategies and away from index funds and active managers.
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RBoS puts St David's trust into admin receivership
UK – Royal Bank of Scotland has put the St David’s Investment Trust into administrative receivership after minority shareholders objected to the restructuring proposal.
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Fortis markets its Ucits III status
BELGIUM – Fortis Investments has obtained Ucits III status for its Luxembourg Sicav to allow it to market a wider range of products across Europe, but as the UK funds trade association identified further issues to create a single market.
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Insight makes third structured products hire
UK- Insight Investment Management, the asset management arm of HBOS, has hired Takis Antastassopoulous from consultancy Quant Technology as senior portfolio manager on structured products and index funds.
