Asset Managers – Page 339
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SWIP swoops for Edinburgh’s Waugh
UK – Robert Waugh, head of UK equities at Edinburgh Fund Managers, is leaving to join Scottish Widows Investment Partnership.
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MLIM hires Singer & Friedlander’s Poole
UK – David Poole, former director of marketing at Singer Friedlander Investment Management, has joined Merrill Lynch Investment Managers.
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Barclays Global Investors’ profit up 52%
UK - Barclays Global Investors, the largest manager of European pension fund assets, saw its first-half operating profit rise 52% and assets under management rise 18%.
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Insight in swoop for Axa Rosenberg’s Millar
UK – Axa Rosenberg Investment Management’s UK and Ireland institutional marketing director, Stephen Millar, has surprised his employers by moving to Insight Investment.
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State Street’s research chief Persaud leaves
UK – Avinash Persaud, high-profile head of global research at State Street Corp., has left the company to run a currency investment fund.
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ABN Amro’s asset mgmt profit falls 15%
NETHERLANDS – Net profit at ABN Amro’s asset management division fell 15.2% in the first half, hit by weak conditions in the global market.
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Pickering advises against personal pensions
EUROPE – The chairman of the European Federation for Retirement Provision, Alan Pickering, says he would not advise a young person in the UK to put money into a personal pension.
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WM chief gets expanded role at State Street
UK – State Street has appointed the head of its performance-measuring arm WM Co., Peter Adams, as the London head of its UK pensions servicing team.
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Unilever turns tables on institutional investors
UK/NETHERLANDS – Institutional investors who fail to vote at annual meetings could face a grilling by companies if Unilever’s example sets a precedent.
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MLIM loses UK equity manager Thompson
UK – Merrill Lynch Investment Managers has lost three of its UK equity specialist team including UK equity manager, Steve Thompson.
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Schroders’ institutional sales head joins PIMCO
UK – PIMCO has hired Paul Craven, the former head of UK institutional sales at Schroders.
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European commercial property “slowing down”
EUROPE – Commercial property investment in Europe is slowing down and will be about 10% less than in 2002, according to Jones Lang LaSalle.
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Germany’s BVI launches investment training
GERMANY – Four German investment companies have teamed up with the BVI, Bundesverband Investment und Asset Management, to offer a three-year on-the-job training programme as investment specialists – the first programme of its kind in Germany.
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Aberdeen cancels sale of property arm
UK – Aberdeen Asset Management has announced it will not sell Aberdeen Property Investors to British Land Co. and that it will retaining the business.
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French reserve fund tenders mandates
FRANCE – The Fonds de Reserve pour les Retraites has now put out to tender the mandates for the entire 16 billion-euro retirement reserve fund.
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Hackney seeks actuary and property manager
UK – The London borough of Hackney is looking for an actuarial consultant and a property fund manager for its 340 million-pound (486 million euro) pension fund.
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Higham Black Mountain names senior actuary
UK – Higham Black Mountain is expanding its pension administration and consultancy services with the addition of Paul Jayson.
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Institute blasts failure of German Riester reform
GERMANY – “The Riester reform has failed” and “Germans must save more” – this is the message from the German Institute for Retirement Provision.
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Deutsche to strengthen global asset management
GERMANY – Deutsche Bank says it wants to strengthen its global asset management business, though it is ruling out acquisitions for now.
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Jupiter under scrutiny in Somerset revamp
UK – Somerset County Council’s 600 million pound (855 million euro) pension fund has put out two tenders for a UK bond mandate and a UK property manager of managers mandate following an overhaul of its investment strategy.
