Asset Managers – Page 344
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News
SWIP names head of Italian business
ITALY – Scottish Widows Investment Partnership has appointed Francesco Albano as its new head of Italian business development.
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HSBC says ageing is shaping financial services
UK – HSBC says population ageing is starting to shape the demand for financial services.
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RLAM’s equities chief Lawlor moves to Nomura
UK – The head of international equities at Royal London Asset Management, Philip Lawlor, is leaving to join Nomura International.
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SEI Investments names southern Europe chief
UK – SEI Investments is boosting its presence within southern Europe, with the appointment of Marco Zanuso as director of business development for the region.
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SG to combine asset management, private banking
FRANCE – Societe Generale has announced that it intends to bring its asset management and private banking operations closer together.
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Petroleum Fund rebalances benchmark portfolio
NORWAY – The 86.5 billion-euro Petroleum Fund has rebalanced its benchmark portfolio in a two-stage process that took place in February and March.
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Lucent’s Dutch fund ousts Schootse Poort, ABN Amro
NETHERLANDS – The incumbent managers at Lucent Technologies’ 450 million euro Dutch pension fund, Schootse Poort and ABN Amro, have been replaced in a shift to specialist managers.
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Liechtenstein’s LGT buys Swiss Life’s STG
SWITZERLAND / LIECHTENSTEIN – Financial services company, LGT GROUP, is acquiring fiduciary company STG Treuhandgesellschaft and its subsidiaries from the Swiss Life Group in order to expand, and to strengthen its activities in Switzerland.
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Law Debenture’s finance chief Skeggs leaves
UK – The chief financial officer of trustee services firm Law Debenture, Peter Skeggs, has left abruptly.
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Two German pension consulting firms merge
GERMANY – Consulting firms Heubeck and FJA are merging to exploit opportunities in the German pensions market.
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NAPF in corporate governance joint venture
UK - UK investors will soon have better access to corporate governance analysis and electronic voting as a result of a joint venture between the National Association of Pension Funds and the US-based governance organisation, Institutional Shareholder Services.
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DeAM and Schroders ousted at Oxford council
UK – The 500 million pound (703 million euro) pension scheme of Oxfordshire County Council has replaced Deutsche Asset Management and Schroders with UBS, Baillie Gifford, Alliance Bernstein and Legal & General as part of a move to find better performance.
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ABP, PGGM oppose Telecom Italia-Olivetti merger
EUROPE – Some of Europe’s largest pension funds have backed a call opposing Telecom Italia’s planned merger with Olivetti.
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France: AXA IM hires Dexia’s Pitois
FRANCE – AXA Investment Managers France has appointed Jean Pitois of Dexia Asset Management to head up institutional business development. He will be based in Paris.
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Gartmore Investment Managers cuts 30 jobs
UK – Gartmore Investment Managers has announced that it will be further reducing its headcount with 30 compulsory redundancies.
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MLIM says it’s winning mandates again
UK – Merrill Lynch Investment Managers says it won around half of all the pitches for mandates it made in the first quarter.
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Call for single European asset management market
EUROPE – A single European market in asset management could increase the overall size of a pension by nine percent for the average investor, says the UK’s Investment Management Association.
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Citigroup AM hires Doyle from Allianz Dresdner
UK – Citigroup Asset management has appointed Frank Doyle of Allianz Dresdner Asset Management to head up institutional sale in the UK and Ireland.
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Norway’s KLP ready for new pension proposals
NORWAY – Mutually-owned insurer KLP says it is well placed to benefit from proposed changes in the Norwegian pensions market, but says it will mean hard work and a change in its approach.
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Allianz sees mixed picture on pensions business
GERMANY – Insurance giant Allianz says its corporate pensions business is “very positive” – though its Riester private pension business is showing only moderate growth
