Asset Managers – Page 352
-
News
UBS to set up holding company
EUROPE – Swiss bank UBS is to create a holding company to incorporate its five independent private banks and GAM, its specialist portfolio and asset manager - together they run 70 billion Swiss francs (47.6 billion euros) in assets on behalf of their clients.
-
News
GSAM names European equity heads
EUROPE – Goldman Sachs Asset Management has named Hywel George and Stuart McPherson as its new co-chief investment officers for its European equity business.
-
News
European CIOs see assets rising in 2003
EUROPE – Eighty percent of European chief investment officers surveyed by US risk measurement firm Barra are positive that assets under management will increase over 2003.
-
News
Henderson names UK institutional marketing head
UK – Henderson Global Investors has appointed two former J P Morgan Fleming Asset Management employees to its UK institutional marketing team.
-
News
Aon to integrate investment manager research
US – US-based insurance and consultancy firm Aon has set up a global unit to integrate its investment manager research and hired an Internet entrepreneur to run it.
-
News
Calpers seeks hedge fund boost
US – Investment staff at Calpers, the world’s second largest pension fund, are to recommend that the fund raise its one billion dollar (930 million euro) allocation to hedge funds when the fund’s investment committee meets in June.
-
News
City of Zurich pension fund reveals costs
SWITZERLAND – Versicherungskasse Zurich, the 10.1 billion Swiss franc (6.8 billion euro) Zurich civil service pension fund, has revealed its administration and asset management costs for 2003.
-
News
Credit Lyonnais’ asset management profits slip
FRANCE – French bank Credit Lyonnais’ asset management business saw its 2002 net profits fall 5.6% to 203 million euros.
-
News
PPI warns of serious crisis in UK pensions
UK – The UK state pension system has come under fire from the Pensions Policy Institute research organisation, which warns that “a serious crisis is looming”.
-
News
Odey launches pan-European UCITS
EUROPE – Odey Asset Management has launched a pan-European Dublin-registered UCITS targeting international and offshore investors.
-
News
Firms petition European Commission on SRI
EUROPE – Fifty European organisations, businesses and professionals have submitted a formal petition to the European Commission to include provisions related to social responsibility in its new directives on prospectus obligations.
-
News
State Street to cut 1,000 jobs
US – State Street Corp. is to cut around 1,000 jobs as it consolidates its 1.5 billion dollar acquisition of Deutsche Bank’s global securities services division.
-
News
ABN Amro takes e804m pensions charge
NETHERLANDS – Dutch bank ABN Amro has taken a net charge of 804 million euros under US accounting rules relating to its pension obligations.
-
News
Sweden’s AP3 records 12.6% negative return
SWEDEN – Citing the continued downturn in equity markets, Tredje AP-fonden, the third national Swedish pension fund or AP3, has recorded what it has termed a “painful” negative return of 12.6% for 2002.
-
News
Axa IM names head of institutional sales
FRANCE – Axa Investment Managers has appointed Nathalie Boullefort-Fulconis as global head of institutional sales and member of the executive committee.
-
News
TPG surprised at S&P pension rating
NETHERLANDS – TPG, the Dutch logistics firm, has said it is surprised to be one of the companies put on credit watch by ratings firm Standard & Poor’s because of unfounded pension liabilities.
-
News
Dutch SNT names TKP as administrator
NETHERLANDS – The newly established corporate pension fund for Dutch customer relationship management firm SNT has appointed TKP Pensioen as its administrator.
-
News
UBS ties up with VIFA for Pensionsfonds drive
GERMANY - The German arm of Swiss-based UBS Global Asset Management is teaming up with VIFA Pensionsfonds to provide pension plans to German companies.
-
News
OECD to look at pensions supervision
EUROPE - The Organisation for Economic Cooperation and Development's Private Pensions Working Party is to look at member states’ pension supervision within the next few months, says its new chairman Ambrogio Rinaldi.
-
News
GE Life outsources UK property to Credit Suisse
UK/US - GE Life, part of US-based GE Financial, has decided to outsource the management of its 540 million pound (814 million euro) property portfolio to Credit Suisse Property Investment Management (CSPIM), the UK property arm of Credit Suisse Asset Management.
