Asset Managers – Page 337
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Goldman Sachs AM revenues rise 20%
GLOBAL – Goldman Sachs’ asset management division saw its revenues rise by 20% in the third quarter to 481 million dollars (417.6 million euros), from 400 million dollars a year ago.
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Carnegie and Russell in multi-manager tie
SWEDEN – Nordic investment bank Carnegie has signed an agreement with Russell to provide manager of manager funds to its private banking clients.
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Scottish Widows’ CEO Kane to leave
UK – Scottish Widows’ chief executive Mike Ross is to be replaced next week by Archie Kane.
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Tyne & Wear tenders for investment consultant
UK – The two billion-pound (2.9 billion euro) Tyne and Wear pension fund has put out to tender a mandate for an investment consultant.
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Nationwide fund drops Schroders as main manager
UK – Schroder Investment Management has been dropped as the main fund manager for the 850 million-pound (1.22 billion-euro) pension fund of Nationwide Building Society as a result of poor performance.
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Ex-Mercer’s Dinham joins Investment Solutions
UK – Investment Solutions, which entered the UK multi-management market last week, has hired former Mercer investment consultant Richard Dinham.
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Dresdner wins PGGM, Merseyside US large-caps
UK/NETHERLANDS – Dresdner RCM has been appointed to run US large-cap equity mandates for both PGGM and the UK’s Merseyside pension fund.
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BGI's Europe CEO Tomlinson stands down
EUROPE - Lindsay Tomlinson has relinquished day-to-day management responsibility at Barclays Global Investors' European business to Andrew Skirton.
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EAMA secretary general Michael Haag dies
EUROPE – The secretary general of the European Asset Management Association, Michael Haag, has died after a long illness.
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France’s Oddo AM restructures management
FRANCE – Oddo Asset Management in Paris has restructured, resulting in the appointment of three new heads of department.
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Bank Corluy's Castelyn joins UBS
BELGIUM – Stefaan Castelyn, former head of asset management for Bank Corluy, has moved to UBS Wealth Management in Belgium.
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Dutch pension funds raise foreign equity holdings
NETHERLANDS – Dutch pension funds have increased their holdings in foreign equities by 22 billion euros over the first half of 2003.
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RLAM names new equities and fixed income heads
UK – Royal London Asset Management has restructured its senior positions with the promotion of Jane Coffey to head of equities and Jonathan Platt as head of fixed income.
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France: UBS GAM hires DeAM’s Bruno Servant
FRANCE – UBS Global Asset Management France has appointed Bruno Servant as deputy chief executive.
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LGIM hires fund manager Holmes from CSAM
UK – Legal and General Investment Management has further bolstered its equity team as it makes a push into active equities.
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Union Bancaire Privée outsources E5.5bn to EFA
SWITZERLAND – Swiss private bank Union Bancaire Privée has decided to outsource its fund administration to Luxembourg-based European Fund Administration.
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Inflows to German investment funds halve
GERMANY – Investments into German investment funds dropped by half in August to 1.6 billion euros, according to the latest data from the BVI, Bundesverband Investment und Asset Management.
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Hermes boosts private equity team
UK – Hermes’ private equity arm has hired an investment director from CVC Capital Partners.
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Aberdeen Asset Management sells AVI
UK – Aberdeen Asset Management has decided to sell its Asset Value Investors subsidiary to its management.
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Gartmore in hedge fund tie with Aspect Capital
UK – Gartmore is expanding its hedge fund business by forming an alliance with Aspect Capital, a global hedge fund company.
