Asset Managers – Page 330
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News
Skandia nabs Marsh's Andersson as CEO
SWEDEN – Swedish savings company Skandia has named Hans-Erik Andersson, Marsh & McLennan Companies’ Nordic chief, as its new chief executive, taking over from Leif Victorin.
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ISIS AM in outsourcing deal with J P Morgan
UK – ISIS Asset Management is to outsource a number of its investment administration activities to J P Morgan.
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Allianz posts 9-month asset management loss
GERMANY – Allianz has reported a loss, after various items, in its asset management business in the first nine months of 2003, although it was less than expected.
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Mercer builds currency overlay universe
GLOBAL – Mercer Investment Consulting is building a currency overlay performance universe.
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French reserve fund may hire transition manager
FRANCE – The 16 billion-euro Fond de Reserve pour les Retraites is considering appointing a transition manager, says law firm Allen & Overy.
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Gartmore names top currency manager
UK/NORDIC – Gartmore Investment Management has appointed Cameron Crise as senior investment manager in its currency team.
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State Street names pension accounting head
UK – State Street has appointed Jerry Neudegg as head of its pensions accounting team in London, a new role.
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Dexia sets up Belgian sustainable fund
BELGIUM – Dexia Asset Management has set up a new sustainable equity fund, the Paricor E10, for Belgian institutional investors.
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UBS says it gains E4bn in institutional assets
GLOBAL – UBS added 6.3 billion Swiss francs (four billion euros) in institutional assets under management in the third quarter of this year.
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AXA Group’s assets rise in first nine months
FRANCE – AXA Group’s assets under management have increased over the last nine months, but revenues for its asset management subsidiaries are still down.
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Cardiff fund taps SSGA for active equities
UK – The 502 million-pound (731 million-euro) Cardiff & Vale of Glamorgan pension fund has appointed State Street Global Advisors to manage an active equity mandate.
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SWIP boosts UK equity fund team
UK – Scottish Widows Investment Partnership has expanded its UK equity fund management team with the addition of two senior members.
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Swissca says chief executive von Ah leaves
SWITZERLAND – Swissca Portfolio Management’s chief executive Roman von Ah has left with immediate effect, the company said in a statement.
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Corrected: SocGen investment mgmt recovery
FRANCE – (Corrects to clarify that TCW has not closed, paragraph 6) Societe Generale has reported continued recovery for its investment management business for the third quarter, with net inflows of 1.9 billion euros.
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Gartmore hires Merrill’s Beazley for alternatives
UK – Gartmore Investment Management has appointed Charles Beazley as head of institutional and alternative investments.
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BNP Paribas sees asset management rebound
FRANCE – BNP Paribas has reported third quarter net operating income rose 34.4% and amid a continued rebound for its asset management and services businesses.
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CSAM sees E3.5bn institutional outflow
GLOBAL – Credit Suisse Asset Management saw an outflow of four billion dollars (3.5 billion euros), mostly from institutional clients, in the third quarter of this year.
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Sweden’s Alecta names equities chief
SWEDEN – Occupational pension fund manager Alecta has hired Nordea’s Peter van Berlekom as its new head of equities.
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West Sussex taps State Street for custody
UK – The 749 million-pound (1.1 billion-euro) West Sussex Pension Fund has appointed State Street as custodian and re-appointed Cushman & Wakefield Healey & Baker as property manager.
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Northern Trust names transition mgmt director
EUROPE – Northern Trust Global Investments (NTGI) in London has bolstered its position in transition management with the appointment of Kevin Hardy as European head.
