All IPE articles in August 2003 (Online) – Page 6
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News
IMF wants Dutch pension system strengthened
NETHERLANDS – The International Monetary Fund says a strengthening of the Dutch pension system is needed to protect the solvency of occupational pension funds.
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Morley Fund Management CFO Quirke to leave
UK – Gerard Quirke, chief financial officer at Morley Fund Management, has decided to leave the company in search of “new challenges in the fund management industry”.
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MLIM hires Singer & Friedlander’s Poole
UK – David Poole, former director of marketing at Singer Friedlander Investment Management, has joined Merrill Lynch Investment Managers.
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CS, UBS fund arms “rely more on pension plans”
EUROPE - The investment fund arms of Swiss banks UBS and Credit Suisse are more reliant on pension plans than their peers, according to a new report.
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Insight in swoop for Axa Rosenberg’s Millar
UK – Axa Rosenberg Investment Management’s UK and Ireland institutional marketing director, Stephen Millar, has surprised his employers by moving to Insight Investment.
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Barclays Global Investors’ profit up 52%
UK - Barclays Global Investors, the largest manager of European pension fund assets, saw its first-half operating profit rise 52% and assets under management rise 18%.
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State Street’s research chief Persaud leaves
UK – Avinash Persaud, high-profile head of global research at State Street Corp., has left the company to run a currency investment fund.
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Mideast body tenders equity mandate via IPE-Quest
EUROPE – A public institution in the Middle East has tendered a 100 million-dollar plus mandate for actively-managed pan-European Mid Cap Equities.
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ABN Amro’s asset mgmt profit falls 15%
NETHERLANDS – Net profit at ABN Amro’s asset management division fell 15.2% in the first half, hit by weak conditions in the global market.
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Siemens continues to cut pension shortfall
GERMANY – Industrial group Siemens has continued to reduce the shortfall to its 14.9 billion-euro pension fund, and has increased its allocation to equities.
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Irish managed funds return over 2% in July
IRELAND – The average group pension managed fund in Ireland rose by more than two percent in July, according to new data.
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SSGA eyes pension funds with active gilt strategy
UK – State Street Global Advisors has launched an active gilt, or UK government bond, strategy aimed at UK pension funds.
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UK employers wary of pension protection fund
UK – The Confederation of British Industry has warned the government that the proposed pensions protection fund will accelerate the move away from defined benefit schemes, and is proposing that members contribute towards protection
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WM chief gets expanded role at State Street
UK – State Street has appointed the head of its performance-measuring arm WM Co., Peter Adams, as the London head of its UK pensions servicing team.
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Pickering advises against personal pensions
EUROPE – The chairman of the European Federation for Retirement Provision, Alan Pickering, says he would not advise a young person in the UK to put money into a personal pension.
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Jones Lang LaSalle Europe chief to retire
EUROPE – The European chairman of property firm Jones Lang LaSalle, Robin Broadhurst, is to retire following a decline in revenues in the region.
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Mercer Oliver Wyman targets Nordic growth
SWEDEN – Mercer’s risk management consultancy arm, Mercer Oliver Wyman, is targeting growth in the Nordic region with the opening of an office in Stockholm.
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Unilever turns tables on institutional investors
UK/NETHERLANDS – Institutional investors who fail to vote at annual meetings could face a grilling by companies if Unilever’s example sets a precedent.
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Aon’s consulting profit falls 9%
US – Profit at Aon’s consulting business declined by nine percent in the second quarter, due to more “lower margin” contracts.
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MLIM loses UK equity manager Thompson
UK – Merrill Lynch Investment Managers has lost three of its UK equity specialist team including UK equity manager, Steve Thompson.