Asset Managers – Page 319
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News
Europe's CESR to look at asset management
EUROPE - The Committee of European Securities Regulators has appointed the chairman of Italy's Consob to head a group looking at investment management.
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SSGA names Leahy chief operating officer
GLOBAL - State Street Global Advisors, State Street Corp.’s investment management arm, has named Peter Leahy as chief operating officer, a new role.
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French reserve fund awards first E10bn
FRANCE – The 16 billion-euro French Pensions Reserve Fund has awarded its first 10 billion euros in mandates, covering four “lots” - large-cap euro equities, small and mid-cap euro equities, large-cap US equities and bonds.
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UBS’s GAM names Mueller as institutional head
SWITZERLAND – UBS’s active asset management arm GAM has hired Reinhard Mueller from Deutsche Asset Management to be managing director of its Zurich office and head of European institutional business.
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SEI names new chief investment officer
US – SEI Investments has named Karl Dasher as chief investment officer. He takes over from Ed Loughlin, who remains president of SEI Asset Management.
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Watson Wyatt names Aon’s Witt as Munich manager
GERMANY - Watson Wyatt has appointed Jens Witt of Aon’s German consulting subsidiary to the new position of managing consultant for its Munich office as it expands in Germany.
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Royal London outsources E6.75bn to J P Morgan
UK - Royal London Asset Management is to outsource 4.5 billion pounds (6.75 billion euros) in unit trust fund accounting to J P Morgan Investor Services.
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IBM likely to use new Irish common fund
IRELAND - Computer giant IBM is likely to become one of the first multinational companies to use the common contractual fund (CCF), Ireland’s new tax transparent pooling vehicle, to pool its pension funds’ global equity assets.
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New EU countries need “prudent person” – ADAM
EUROPE – New European Union countries in central and eastern Europe need to lift investment restrictions and implement the “prudent person principle”, Allianz Dresdner Asset Management says.
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Standard Life Investments avoids job cull
UK – Standard Life says it will cut 1,000 jobs – although none will go at its asset management unit Standard Life Investments.
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Austria’s BVP awards convertible bonds to MSIM
AUSTRIA – Austrian multi-employer pension fund BVP Pensionskassen has awarded a 30 million-euro convertible bond mandate to Morgan Stanley Investment Management, a type of investment new to the fund.
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St. James’s awards custody to State Street
UK – St. James's Place, the wealth management firm with eight billion pounds (6.5 billion euros) under management, has awarded State Street Corp. a custody and fund accounting mandate.
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Aviva scheme appoints Nomura for Japanese equity brief
UK – The Norwich Union Aviva Staff Pension Scheme has appointed Nomura Asset Management to manage a Japanese equities brief worth in the region of 100 million pounds (150 million euros).
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Monte Paschi and Hines in Italian property fund tie-up
ITALY- Monte Paschi Asset management SGR, the asset management branch of the bank Monte dei Paschi di Siena has formed an alliance with international real estate manager Hines to create a ‘value-added’ fund for institutional investors called MH Real Estate Crescita.
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Goldman's asset mgmt revenues rise 67%
GLOBAL – Goldman Sachs’ asset management division has posted a 67% rise in revenues in the first quarter.
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Mercer sees rejig of asset management industry
GLOBAL – Consulting firm Mercer Oliver Wyman says the asset management industry should ditch the traditional institutional, retail and high net worth categories and reorganise according to the “professionalism” of investors.
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AP3 invests E38m in new forestry group
SWEDEN – Tredje AP-fonden has bought a 4.9% stake in new Swedish forestry group Bergvik Skog for around 350 million crowns (38 million euros).
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State Street’s new Milan office to target funds
ITALY - State Street has opened an office in Milan with an eye to servicing Italy’s 500 billion euro investment funds industry, as part of its Deutsche Bank securities services deal.
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Citigroup, Mellon sign for new GSAM cash system
EUROPE – Goldman Sachs Asset Management has launched a Europe-wide cash management system, saying that Citigroup, Mellon Global and Invesco have already signed up.
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NAPF: Conference told swaps are the future for pension funds
UK – Delegates at the National Association of Pension Funds (NAPF) conference have been told that most pension schemes will use swaps in the future..
