Asset Managers – Page 330
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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.
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Nordea sees surge in Finnish assets
NORDIC – Nordea’s assets under management increased 5% in the third quarter, predominantly driven by growing business in the Finnish market.
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Gartmore buys Govett in 21m euro deal
UK – Gartmore Investment Management is to acquire Govett Investments Limited and its one billion pounds (1,464 billion euros) of assets under management.
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Putnam Investments’ chief executive Lasser to leave
GLOBAL – Marsh & McLennan Companies has replaced Lawrence Lasser as chief executive of its Putnam Investments arm amid a regulatory investigation into the firm’s trading practices.
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Bank of Ireland boosts UK institutional team
UK – Bank of Ireland Asset Management UK has expanded its client services team with the appointment of Alice O’ Dowd.
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Top pension funds quiz firms on emissions
GLOBAL – Eighty-seven of the world’s leading institutional investors and pension funds have written to 500 companies asking for the disclosure of information regarding their greenhouse emissions.
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Morley hires Aberdeen’s Garrett-Cox as CIO
UK – Morley Fund Management has named Katherine Garrett-Cox to succeed chief investment officer Gerry Holtham.
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KAS Bank names successor to chairman
NETHERLANDS – Dutch custody services group KAS Bank has named Peter Goebel to succeed chairman F.S. von Balluseck.
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Hibernian passes some asset management to London
IRELAND - Hibernian Investment Managers, (HIM) one of the five largest asset managers in Ireland, has split its fund management business between Ireland and the UK.
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ABN Amro's asset management Q3 revenues up
NETHERLANDS – ABN Amro Asset Management has announced its third quarter results with a 4.2% increase in revenues.
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Julius Baer’s London CEO Christian Yates departs
UK - Christian Yates, the chief executive of the London operations of Swiss asset manager Julius Baer has left the company.
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CSAM names Nordic sales vice president
EUROPE - Credit Suisse Asset Management has named a new vice president of Nordic sales.
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Deutsche Bank sees growth at asset arm
GERMANY – Deutsche Bank says its private client and asset management arm, which includes Deutsche Asset Management, is seeing profitable growth.
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Directive to benefit multinationals and largest asset managers - report
EUROPE – The EU pensions directive will greatly benefit multinationals, and open up opportunities to asset managers, says business information company, Datamonitor.
