All IPE articles in August 2002 (Online) – Page 3
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News
State Street, ABN & BoNY line up for Deutsche deal
GLOBAL- State Street, ABN AMRO Mellon Bank and Bank of New York are rumoured to be interested in buying Deutsche Bank’s custody business, put up for sale this year. Valued at $1.1bn-$1.8bn (e1.12bn-e1.84bn) and with approximately $3.7trn (e3.8trn) assets under custody, the division is the fifth largest in the field ...
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SEI adds to fixed income manager line-up
UK- Multi manager SEI Investments has added Fischer Francis Trees & Watts and Alliance Capital Management to its fixed income manager line up. SEI maintains the new appointments will give broader access to the global developed fixed income markets.
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Philip Robinson leaves Watson Wyatt
UK- Philip Robinson, a senior investment consultant at Watson Wyatt, has left the consultancy firm to pursue other interests.
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Norton Rose launches pensions litigation unit
UK- Law firm Norton Rose has established a new dedicated pensions litigation unit in response to increased disputes and regulation within the industry. The new pensions unit forms part of a wider team in the firm's litigation department focusing on pensions, insurance and reinsurance and financial services regulatory work and ...
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Norges Bank issues e614m specialist RFPs
NORWAY- Norges Bank Investment Management, overseer of the$75bn (e75bn) Norwegian petroleum fund has announced equity RFPs worth a combined $600m with the initial tender being run through the IPE-Quest electronic manager selection system at http://NBIM.IPE-Quest.com.
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Ex-Phillips & Drew chief executive quits UBS
UK- Robin Hindle Fisher, the former chief executive of Phillips & Drew, is leaving UBS after ten years with the company. Hindle Fisher stepped down as chief executive last year to take a year out and study at the London Business School.
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Governments are failing to harmonise tax laws
EUROPE- A new survey by KPMG of taxation and regulation of funds in more than 70 countries suggests that governments are failing to harmonise tax laws and that progress towards a global investment market remains slow.
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LSE defends Hedge funds in shorting row
UK- The London Stock Exchange has contested recent criticism that aggressive short selling, particularly by hedge funds, is to blame for recent equity market volatility. The challenge follows complaints from companies which have led the Bank of England to consider ways of increasing the disclosure of securities lending activities.
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CalPERS gets tough on manager conflict of interest
US- Following the decision last week by a group of large US pension funds to clamp down on companies not abiding by good company practice, the California Public Employees’ Retirement System has announced that investment banks and money managers wishing to do business with it will now be required to ...
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Fortis enters Germany & Austria with Paribas team
GERMANY/AUSTRIA- Fortis Investment Management has raided BNP Paribas for a team to run new operations in Austria and Germany. FIM already has regulatory approval to market its funds in Austria and it is expecting to get the go-ahead in Germany in the next three weeks.
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Dutch scheme DSM postpones proposed changes
NETHERLANDS- Dutch chemicals group DSM has announced that alterations to its e9bn pension fund regulations are to be postponed due to poor performance.
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MLIM appoints relationship manager for Benelux
NETHERLANDS- Leen Meijaard has been appointed as director of Benelux sales and relationship management at Merrill Lynch Investment Managers in Amsterdam. Meijaard will be working alongside managing director Martin Hoogendijk.
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Watsons to publish data on recommended managers
GLOBAL- Watson Wyatt is following the lead of rival consultant Mercer Human Resource Consulting with publication next January of data on performance of the managers it recommends.
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Mercers appoints head of Hungarian operation
HUNGARY- Mercer Human Resource Consulting has appointed Juzsef Pour as head of its Hungarian consulting operations. Dr Pour has been managing director of the management consultant Hay Group in Hungary having starting it eleven years ago.
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HVB gets approval for all-inclusive industry fund
GERMANY- BAFin, the German Financial Supervisory Authority, has given HypoVereinsbank (HVB) authorisation to launch its subsidiary HVB Pensionsfonds that will act as an industry-wide pension provider across Germany.
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Morley launches new SRI overlay programme
UK- Morley Fund Management’s socially responsible investment has launched a new SRI engagement overlay programme, Sustainable Futures, that enables institutional investors to ‘engage’ on social and environmental issues with companies they invest in.
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BGI set to lose out as Torfaen tenders e770m
UK- Torfaen County Borough council has put out to tender over half of its £730m (e1.14bn) Greater Gwent Pension Fund.
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CSAM adds to its UK institutional team
UK- Credit Suisse Asset Management has announced the appointment of Annabel Stephens who is joining the UK institutional marketing team. Stephens, who joins from Barclays, will be responsible for pooled pension fund client servicing and for consultant relations.
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Opra publishes guide to speed closure of schemes
UK- Pensions regulator the Occupational Pensions Regulatory Authority (Opra) has published a guide for trustees that is designed to help reduce the time it takes to wind up occupational schemes, a process that can often take several years.
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DTCC report deals blow to European fund industry
US/EUROPE- The Depository Trust & Clearing Corporation, the world’s largest securities clearance and settlement organization, and PROMETHEE, an independent, Paris-based think tank, have released a study of the main issues regarding the growth of the investment fund industry in Europe.
