Asset Managers – Page 355
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Fortis Investment Management in Luxembourg move
LUXEMBOURG – Fortis Investment Management has set up shop in Luxembourg, having taken over the fund of funds asset management activities of Bank Generale du Luxembourg.
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Seymour Pierce in asset management talks
UK – Financial services firm Seymour Pierce says it is in “advanced talks” to sell its asset management division, Pavilion Asset Management.
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Insight wins e44.5m Church bond mandate
UK – Insight Investment has been appointed to run a 30 million pound (44.5 million euro) bond mandate for the Church of England pension fund.
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GMO wins three emerging markets mandates
EUROPE – US-based asset manager GMO says it has won three emerging markets mandates in Europe worth 104 million pounds (153 million euros).
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Mercer launches specialist manager platform in Ireland
IRELAND – Mercer Investment Consulting has launched a new product allowing smaller Irish pension funds access to international investment managers.
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Morley fixed income chief leaves for rival
UK – The head of fixed income at Morley Fund Management, Peter Rains, has left and is being replaced by Ceris Williams.
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Sarasin buys French fund manager
SWITZERLAND/FRANCE – Swiss private bank Bank Sarasin is expanding its fund activities in France with the acquisition of Paris-based asset management company Expertise Asset Management.
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T Rowe Price to open Amsterdam office
NETHERLANDS - US asset management firm T Rowe Price is set to open a new institutional sales office in Amsterdam in the coming months as a springboard to marketing its products to Dutch institutional clients.
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Watson Wyatt hires Friends Ivory equities head
UK – Pensions consultancy form Watson Wyatt has hired the head of global equities from Friends Ivory & Sime to be a senior consultant in the UK.
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Gartmore hires top execs for hedge fund
UK – Asset manager Gartmore has hired senior executives from Goldman Sachs and UBS to help run a new hedge fund.
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Northern Trust names risk management head
US – Northern Trust has made a series of management changes, including the creation of a new corporate risk management post.
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State Street hires ING wealth management chief
US – State Street Corp. has hired the chief operating officer of Dutch bank ING’s US wealth management business.
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Multi-management to hit consultants, managers
UK - The increasing appeal of multi-managers will have an effect on both the UK consulting industry and the investment management industry, according to investment firms Frank Russell and Morgan Stanley.
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Standard Life targets European bond dominance
UK – Standard Life Investments has hired Graeme Orr from Citigroup as fixed interest investment director as part of its aim of becoming a dominant player in European and global bonds.
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French bank merger approved
FRANCE – Regulators have approved Credit Agricole's 16-billion euro offer for rival Credit Lyonnais.
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New name in German investment consulting
GERMANY – There’s to be a new name in the German investment consulting market – FondsConsult Institutional
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Investment management profit rises 9% at Fortis
BELGIUM – The investment management arm of Belgian financial services giant Fortis saw its net operating profit rise 9% in 2002 – though staff numbers have fallen 7%.
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Gartmore investment chief resigns
UK – Asset manager Gartmore’s chief investment officer Peter Chambers has left following a review of “leadership resources” as it shifts its focus to hedge funds.
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DnB confirms e2.16bn merger talks
NORWAY – Norway’s largest bank, Den norske Bank, has confirmed that it is in talks to merge with savings bank Gjensidige NOR – a move that would create the largest financial services provider in Norway.
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Julius Baer cuts jobs as assets fall 16%
SWITZERLAND – Swiss private bank Julius Baer says its assets under management declined by 16% in 2002 and that it plans to cut 10% of its workforce.
