Asset Managers – Page 318
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DeAM names new pensions head as Mössle leaves
GERMANY – Deutsche Asset Management has named Nikolaus Schmidt-Narischkin as the new head of corporate pensions following Klaus Mössle's departure for Fidelity Investments.
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Monarch taps Northern Trust for E90m
UK - Northern Trust is to manage a 60 million-pound (89.9 million-euro) manager-of-managers equities brief for the Monarch Airlines Ltd. Retirement Benefits Plan in the UK.
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ABN Amro asset management AUM rises
GLOBAL – Client assets under management at ABN Amro’s asset management businesses have risen 12.2% in a year – boosted by the UK, Netherlands and Nordic regions.
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LGIM wins E8.1bn in new institutional business
UK – Legal & General Investment Management won 5.4 billion pounds (8.1 billion euros) of new institutional business in the first quarter of 2004, a 93% increase on the same quarter a year ago.
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State Street trading arm names operating head
GLOBAL – State Street Global Markets, the investment research and trading arm of State Street Corp., has hired former Credit Suisse First Boston executive Robert Sisti as global head of operations.
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Swedish life insurer SPP plans mutual vote
SWEDEN – Swedish life insurer SPP’s policy-holders will vote in the next few months over whether it should demutualise, parent Svenska Handelsbanken said.
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French SRI reaches E4.5bn - Novethic
FRANCE - The size of socially responsible investments in France reached 4.5 billion euros at the end of March from 4.4 billion euros at the end of December, reveals a report by Novethic, a subsidiary of CDC-IXIS.
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Robeco seeks “forceful” institutional growth
NETHERLANDS – Robeco, reporting a 48% rise in net profit, says it is looking to “forcefully grow” its European institutional business.
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ING adopts “more active” voting policy
GLOBAL – ING Group, whose asset management businesses run about 162 billion euros of equity assets, says it will adopt a “more active” role as an institutional investor.
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Sappi scheme taps LGIM for inflation-linked
NETHERLANDS - The Dutch pension fund of South Africa-based paper maker Sappi has awarded a 16.25 million-euro inflation-linked bond mandate to Legal & General Investment Management.
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Mercer retirement services revenues rise 1%
GLOBAL - Mercer's retirement services revenue rose one percent on an underlying basis to 350 million dollars in the first quarter, says parent company Marsh & McLennan Cos.
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Northern Trust assets under administration up 44%
GLOBAL – Total assets under administration at Northern Trust Corp. rose by 44% to 2.3 trillion dollars in the first quarter, the company said.
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F&C eyes expansion in France
FRANCE - F&C has hired Bruno Moneron from J P Morgan Fleming to lead its expansion in France.
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Bateman awards E30m to MM
UK - The pension scheme of hearing and optical products firm Bateman has awarded Threadneedle’s MM Asset Management a 20 million-pound (29.9 million-euros) multi-manager mandate.
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UK pension funds raise cash holdings – Lipper
UK – Pension funds in the UK raised their exposure to cash investments in March, according to fund research firm Lipper.
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Citigroup Europe investment management earns $9m
EUROPE – Citigroup’s investment management activities in Europe had a net income of nine million dollars (7.5 million euros) in the first quarter, from a three million-dollar loss a year before.
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HSBC Actuaries wins National Counties brief
UK - HSBC Actuaries and Consultants Ltd., says it has been appointed as investment consultants to the National Counties Building Society Pension and Life Assurance Scheme - initially to review investment strategy.
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BoNY wins Insight mutual fund custody
EUROPE - Insight Investment has awarded the Bank of New York a fund accounting, depositary and custody brief for its eight billion-pound (12 billion-euro) UK and European mutual fund business.
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HooverCandy taps Aon for extra actuarial work
UK – Appliance manufacturer HooverCandy Group has appointed Aon Consulting to provide actuarial services to a further three of its pension schemes.
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AP3 investment chief Ekvall joins Carnegie
SWEDEN – Sweden’s third national buffer fund, the 142.5 billion-crown (15.5 billion-euro) AP3, says chief investment officer and deputy chief executive Niklas Ekvall is to leave and join investment bank Carnegie.
