Asset Managers – Page 363
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Invesco names new institutional marketing director
UK- INVESCO has appointed Patricia O’Loughlin as institutional marketing director, taking over from Jeff Attfield who retired in September after 19 years with the company.
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TIAA-CREF and CalPERS to challenge executive pay
US- Two of the world's largest pension funds, TIAA-CREF and CalPERS, are planning to target companies that offer over-generous pay schemes, and to request changes from their boards.
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Northern Trust Ireland names fund services head
IRELAND- Northern Trust Ireland, the funds services division for Northern Trust, has appointed Peter Jordan as managing director. Jordan will assume the position on 28th October, and will additionally retain his current title of senior vice president at Northern Trust.
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Hermes beefs up its corporate governance team
UK- UK fund manager Hermes has stepped up its commitment to corporate governance and shareholder engagement by adding to the two teams, and by creating a corporate governance board.
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E.ON picks Activest as master-KAG
GERMANY- Activest, investment group of HypoVereinsbank, has been appointed as head investment services provider (Master-KAG) for E.ON Energie’s spezialfonds.
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T Rowe Price set to open in Sweden
SWEDEN- T Rowe Price, US asset management firm, is considering opening an office in Stockholm as it continues its push into the Nordic regions. Managing director, Thomas Pederson says, market condition permitting, they will make a final decision in the next six months.
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Schroders and Invesco lose e720m from Yorkshire
UK- The e1.1bn North Yorkshire pension fund has replaced Invesco Asset Management with Barclays Global Investors on a £150m (e240m) global balanced mandate following a review of the fund manager line up.
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German institutions slash equity holdings to 19%
GERMANY- German institutions have decreased their asset allocation to European stocks from an aggregate 27% to 19% over the last two years, according to a survey by US-based consultants, Greenwich Associates.
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Morley names head of alternative investments
UK- Morley Fund Management has appointed Peter Rains as head of alternative investments, in addition to his role of head of fixed income.
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Cardano hires NIB's ex-CIO van Gelderen
NETHERLANDS- Cardano Risk Management, the Dutch derivatives and ALM research firm has appointed Eduard van Gelderen as a director responsible for marketing its products.
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Gartmore appoints head of consulting group
UK- Gartmore Investment Management has appointed Shamus Young to the position of head of global consulting group. Young, previously account director on the Gartmore institutional client services team, will be responsible for managing all aspects of Gartmore's relationships with investment consultants and institutional manager of managers.
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Northern Trust to buy Deutsche's passive business
GERMANY- Deutsche Bank has signed an agreement to sell its passive asset management business to Northern Trust Corporation. The transaction is expected to be completed in the next three to six months, at an estimated price of $260m.
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SWIP beefs up US division with Schroders hire
UK/US- Scottish Widows Investment Partnership has announced the appointment of Phil Chappell as investment director for US markets. Chappell joins at the beginning of next month and will report to Graham Wood, head of global sectors and international research.
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Spanish market set to disappoint foreign managers
SPAIN- Spain’s expanding pensions marketplace may not provide as many opportunities to foreign fund managers as initially thought says Cerulli Associates, Boston-based strategic research and consulting firm.
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Schroders replaces Invesco on e50m Asian fund
UK- Cardiff County Council’s e890m pension scheme has replaced Invesco by Schroders Investment Management as manager for its Asian equity portfolio.
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Hermes CEO Tony Watson resigns from EFM
UK- Tony Watson, chief executive of Hermes Investment Management, has resigned as non-executive director of the UK investment management house Edinburgh Fund Managers after a disagreement with the board over strategy.
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MLIM loses e637m mandate as BAA changes strategy
UK- Merrill Lynch Investment Managers has lost a £400m (e637m) UK equities mandate following the decision by the British Airports Authority pension fund (BAA) to cut its UK exposure in favour of global equities.
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CalPERS invests $200m in Japanese governance fund
US- CalPERS, the $135bn pension fund for Californian public employees, has approved a $200m investment in a fund that will employ corporate governance activism to turn around underperforming publicly traded companies in Japan.
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Deheuvels joins AGF as head of equities
FRANCE- AGF Asset Management, part of German insurer Allianz, has appointed Thierry Deheuvels as its head of equity fund management team. He will also undertake responsibility for developing and promoting AGF’s socially responsible investments.
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S&P and Schroders launch fund of fund service
UK- Schroders Investment Management and Standard & Poor’s have launched a fund of funds sub-advisory service, offering European and other non-US banks the opportunity to break into the growing market.
