Asset Managers – Page 396
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News
Mellon to consolidate in new European HQ
UK/EUROPE – Pittsburgh based Mellon Financial is planning to open a new European headquarters in London by the end of 2003....
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Report reveals way ahead for European insurers
EUROPE – Geographical expansion and integration in the major developing economies of the world is seen as fundamental by large European insurance companies, according to a survey by consultants Arthur Andersen...
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UK £20bn electric fund in huge reorganisation
UK – The £20bn (e33.1bn) industry-wide occupational retirement plan for 26 electricity companies, Electricity Supply Pension Scheme (ESPS), has reorganised some £2.1bn of its assets....
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Sandler to review retail element in Myners report
UK – Ron Sandler, former chief executive of Lloyd’s bank and chief operating officer of NatWest Group, has been appointed by the British government to conduct the review into the retail end of the long-term savings industry, as recommended by the Myners report on institutional investment earlier this year...
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Mellon names new vice-chairmen
US - The board of directors at Mellon Financial has named Steve Canter, chairman and chief executive officer of Dreyfus, a subsidiary of Mellon, and Ronald O’Hanley, president of Mellon Institutional Asset Management, as vice-chairmen...
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BITA Plus unveils new risk control software
Investment management software provider, BITA Plus, has introduced a new portfolio analysis system to assist asset managers in risk control and back testing....
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US managers not waylaid by markets, says Mercer
US - Despite the current worldwide down turn of the stock markets, US investment managers are largely staying on course rather than changing their business strategy, according to a recent survey by consultants William M Mercer....
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Washington launches new European hedge fund
EUROPE – Adrian Farthing has been appointed by the Washington Financial Group to manage its new European hedge fund targeted at European, UK and US offshore institutional investors and funds of funds....
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Dutch pension giant appoints State Street
NETHERLANDS – The e150bn public sector pension fund ABP has appointed State Street to provide investor services and global securities lending for US$21bn (e24.5bn) in US and Japanese assets.
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Mercury Private Equity becomes HgCapital
UK – Mercury Private Equity, the London based venture capital outfit, which was spun off from Mercury Asset Management last year, has renamed itself HgCapital....
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Pohjola and Conventum create new financial group
FINLAND – The announced merger between Helsinki-based insurance group Pohjola and investment manager Conventum also brings the office network of pension insurance group Ilmarinen and life insurer Suomi to the new joint financial services company for the Finnish market.
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"Annuities play an important role" say academics
EUROPE - The role of inflation-indexed annuity products in financing pensions should be carefully considered during the process of reformation of European pension plans, according to leading academic Olivia Mitchell
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BMW enters investment fund field with Russell
GERMANY – BMW Bank, the financial services arm of German car manufacturer BMW, has entered investment fund business with a range of international multi-manager funds, offered through Frank Russell Company, starting on Jul 30.
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Finnish supervisory body names new MD
Jukka Rantala has been named managing director of the Finnish Central Pension Security Institute (ETK), the supervisory body of earnings-related pensions.... And all the week's major people moves...
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Hay poached from Standard Life to become Aegon CIO
UK – Wendy Hay, head of global equities at Edinburgh based Standard Life Investments has been poached by Aegon Asset Management UK to become its new chief investment officer (CIO) from October 1....
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Van Langenhove joins INVESCO as Benelux deputy CEO
BENELUX – Brussels based INVESCO Benelux has appointed Yves Van Langenhove of Fortis Investment Management to become the firm’s deputy CEO with responsibility for institutional sales and client servicing in Belgium and Holland....
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Merrill appoints UK institutional director
UK – Denise Hadgill has been appointed as a director of the UK institutional team and UK investment specialist at Merrill Lynch Investment Management (MLIM) in London...
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Austrian electric scheme seeks fund merger
The Vienna based e280m Verbund Pensionskasse, the pension scheme for Austria’s largest electricity company, is seeking a merger with one of the country’s seven open funds in an effort to cut costs and concentrate on its core business.....
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Deutsche AM unveils new regional COOs
Deutsche Asset Management (DeAM) has appointed a raft of new regional chief operating officers (COO) for Europe, the Asia/Pacific region and the Americas, as part of the restructure of its institutional and retail businesses....
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Nasdaq Europe to go live on Friday
EUROPE – Nasdaq Europe, the pan-European exchange formed by the buy-out in March of Brussels based Easdaq by the US exchange, will begin live trading on Friday (June 8), following the approval of its rule book by the Belgian Finance Ministry.
