Asset Managers – Page 321
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Schroders loses RSPCA balanced brief
UK - The Royal Society for the Prevention of Cruelty to Animals has appointed Threadneedle Asset Management to run its 68 million-pound (100 million-euro) balanced pension scheme, resulting in a loss for Schroder Investment Management.
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Fortis Investments names new CEO in Belgium
BELGIUM - Fortis Investments has named Peter De Proft as chief executive in Belgium.
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Northern Trust hires Gartmore’s Harper
UK – Northern Trust Global Investments has hired Gartmore’s Kate Harper as a director of institutional sales.
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Janus names Goldman’s Black as CIO, president
GLOBAL – Janus Capital Group, facing an estimated 4.5 billion dollars of withdrawals by institutions, has hired Gary Black from Goldman Sachs Asset Management to be its new chief investment officer and president.
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CSAM says Lucerne head Jurt leaves
SWITZERLAND – The head of the Lucerne office of Credit Suisse Asset Management, Herbert Jurt, has left the company and been replaced by Hans Stirnimann.
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KBC sells Polish pension fund to PTE Polsat
POLAND - Kredyt Bank, the Polish unit of Belgian financial holding company KBC, has decided to sell its pension business to competitor PTE Polsat for an undisclosed price.
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KAS Bank positive despite profit fall
NETHERLANDS - Securities services group KAS Bank says its overall 2003 net profit fell to 13.2 million euros from 53.8 million euros in 2002 - though it says things are on an upward trend.
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Fortis Investments’ profit and AUM rise 7%
BELGIUM/NETHERLANDS – Fortis Investments has posted a seven percent increase in both net operating profit and assets under management in 2003.
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Royal Bank shifts to specialists in revamp
UK - The Royal Bank of Scotland has hired seven new specialist asset managers in a revamp of its 12 billion-pound (18 billon-euro) pension fund that was previously exclusively managed by Gartmore and Newton.
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KAS Bank reduces staff by five in 2003
NETHERLANDS – Dutch custody services group KAS Bank reduced its staff levels by five in 2003.
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French reserve fund to focus SRI effort in Europe
FRANCE – The 16 billion-euro French reserve fund says it will concentrate its socially responsible investing approach on large-cap European equities at first.
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SEB says new pension standard to hit profit
SWEDEN – SEB estimates new pension accounting standards will hit 2004 profit by around 250 million crowns (27.2 million euros).
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Hungary records 30% annual pensions growth
Budapest-based Consultancy firm FI-AD Financial Advisory Ltd has published its report on institutional savings in Hungary for the fourth quarter of 2003.
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French reserve fund critical of some applications
FRANCE – The 16 billion-euro French pension reserve fund has made some critical comments about the standard of some asset managers’ applications for mandates.
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Airbus selects Invesco for employee pre-pension accounts
GERMANY- Aircraft manufacturer Airbus Deutschland has appointed Invesco Asset Management to administer and manage Lebensarbeitszeit-Konten or working-life accounts for its 18,000 employees.
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Unigestion appoints new French chairman
France - European alternative asset manager Unigestion has appointed Gérard Pfauwadel, a former managing director of insurer AGF, as chairman of its French subsidiary, Unigestion Asset Management (France).
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SEI picks up three UK mandates
UK – Manager of manager investment firm SEI Investments says it has been awarded mandates totalling 26 million pounds in the last month...
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Winterthur boosted by pension rate cut
SWITZERLAND – Winterthur’s Swiss life unit swung to profit in 2003 – aided in part by a controversial reduction in the minimum interest rate on second-pillar pension schemes to 3.25% from four percent.
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European investment funds rise 12% - FEFSI
EUROPE – The combined assets of the European investment fund market rise by 12% in 2003, said industry body FEFSI.
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Blue Sky names Bisschop as director
NETHERLANDS – Blue Sky Group, the manager of airline KLM’s pension assets, has named Orpa Bisschop as director.
