Asset Managers – Page 319
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News
UBS names new European institutional chief
EUROPE – UBS Global Asset Management has named Michael Strobaek as head of its European institutional business in Europe outside Switzerland to take over from Christof Kutscher, who is moving to Hong Kong.
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Struyk to head Fortis measurement arm
NETHERLANDS - Fortis has named Sander Struyk as director of its performance measurement unit SAMS, taking over from Eric Daubresse.
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State Street: GSS “transformational” in Europe
EUROPE – State Street Corp. says its 1.5 billion-dollar acquisition of Deutsche Bank’s Global Securities Services business last year has been “truly transformational” for its business in Europe.
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Philips sees E1.2bn saving from pension agreement
NETHERLANDS – Dutch electronics giant Philips predicts a 1.2 billion-euro cut in benefit obligations – as well as ongoing savings – as a result of a shift to average-salary pensions agreed earlier this year.
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Northern Trust wins E13.1bn Halifax custody
UK – Northern Trust says it has won been awarded custody of Halifax Financial Services’ 8.6 billion-pound (13.1 billion-euro) fund range.
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Putnam trustees “pleased” with $110m settlement
US – The head of Putnam’s funds trustee board says he is “pleased” with Putnam Investments’ 110 million-dollar market timing settlement with the SEC and the state of Massachusetts.
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BNP Paribas buys Zurich hedge business
FRANCE – BNP Paribas Asset Management says it has agreed to buy the Javelin fund of hedge funds business from Zurich Financial Services’ ZCM Investor Capital arm.
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State Street Ireland hires Goldman’s Nangle
IRELAND – State Street has hired Goldman Sachs Asset Management’s Gavin Nangle to be head of business development in Ireland.
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UK’s Clwyd adds hedge fund exposure in revamp
UK – The 550 million-pound (834 million-euro) Clywd Pension Fund says it has broadened its hedge fund exposure in a “major review” of its investment managers.
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Denmark’s ATP names Nielsen as real estate MD
DENMARK – Michael Nielsen has been named as the new Managing Director of ATP Ejendomme, the real estate arm of Denmark’s largest pension scheme, the 38 billion-euro ATP Danish labour market pension plan.
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Putnam says top lawyer Woolverton to retire
US – Putnam Investments says its top lawyer William Woolverton is to retire amid the market timing scandal and be replaced by State Street Research & Management Co.’s Frank McNamara.
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MSCI to buy risk software firm Barra for E675m
GLOBAL - Morgan Stanley is to buy risk management analytics firm Barra for 816.4 million dollars (675.3 million euros) in cash and integrate it with its majority-owned MSCI index business.
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Watson Wyatt hires Citigroup’s Armstrong
UK – Watson Wyatt LLP has hired Citigroup Asset Management’s European marketing director Jane Armstrong as head of marketing for its investment practice, a new role.
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Fund body FEFSI to let asset managers join
EUROPE - The European investment fund body FEFSI has changed its constitution to admit asset management companies as members, and not just national fund associations.
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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.
