Asset Managers – Page 331
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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.
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Swiss pension funds see asset rise in third quarter
SWITZERLAND - Swiss pension funds, with 400 billion Swiss francs (258 billion euro) under management, reported a SFr 4bn rise in assets during the third quarter of 2003.
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Pensionskasse Post opts for FTSEurofirst index
SWITZERLAND - Pensionskasse Post, the pension fund of the Swiss Postal service has signed up to use the FTSEurofirst 100 index as a tracked for a pan-Eoropean equity mandate.
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State Street’s Logue says winning client trust essential for service providers
GLOBAL – As the trend towards outsourcing continues, service providers will not win business based on products, but rather on reputation and trust, says Ron Logue, president and chief operating officer at State Street.
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EAMA and FEFSI seek modified capital adequacy rules
BELGIUM – The European investment management industry is still pressing the European Commission to modify further its approach for operational risk for investment firms.
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Highland fund opts for three new specialist managers
UK – The Highland Council pension fund in Scotland has appointed Alliance Bernstein, Fidelity Investments and Schroder Investment Managers as Insight Investment loses its 300 million pound (435 million euro) mandate.
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ABP forms real estate venture in US with Prentiss
NETHERLANDS/US – Dutch civil servants pension fund, ABP, has agreed to form a joint venture with US real estate investment trust, Prentiss Properties Trust.
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Renaisssance plays down impact of arrest of Yukos chief
RUSSIA - The arrest of the head of Yukos, Russia’s largest oil company, will not slow the country’s move to a market economy, say Moscow investment analysts.
