All IPE articles in August 2005 (Online) – Page 6
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Aon Consulting’s deputy benefits head leaves
EUROPE – Brian Waite, deputy head of the international benefits practice at Aon Consulting, has left after five years to join Mercer Human Resource Consulting.
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UK: NAPF chairman takes aim at actuaries
UK – The chairman of the National Association of Pension Funds, Robin Ellison, has issued a broadside against actuaries, questioning their fees and their role in setting obligations for firms.
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Danica Pension makes 8.5% return in first half
DENMARK – Danica Pension, the pension and life insurance arm of Danske Bank, made an 8.5% return on assets in the first half of 2005.
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E.ON to set up €5bn fund for pensions
GERMANY - Energy giant E.ON is to remove up to €5.4bn in pension liabilities from its balance sheet and finance them via an external fund.
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Roche hires ex-Aon Europe manager Kistemaker
GLOBAL – Aon Consulting’s former manager of international benefits for continental Europe, Ruud Kistemaker, has joined drugs firm Roche as global benefits manager.
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UK transport firm First seeks pensions director
UK – Transport company First, which runs train, bus and freight services, is looking for a director of pensions to help with the transition to final salary to career average.
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Dutch doctors’ scheme’s van Muylder joins F&C
NETHERLANDS - Corporate bond house F&C Asset Management says it has hired three new analysts to its credit team, which operates out of London and Amsterdam – including Els van Muylder of SBA.
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IPE-QUEST: Danish fund tenders €134m
DENMARK - A Danish pension fund has tendered an active global developed markets equities mandate worth up to DKK1bn (€134m) via IPE-Quest.
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Blue Sky hires ex-Dutch bond agency official
NETHERLANDS – Blue Sky Group, which manages the pension assets of airline KLM, has hired a former official of the Dutch State Treasury Agency.
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Watson Wyatt partner Mike Wadsworth to leave firm
UK – Watson Wyatt partner Mike Wadsworth has told IPE that he plans to leave the firm shortly.
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Mercer facing SEC investigation over Putnam links
GLOBAL – Marsh & McLennan is being probed by the Securities and Exchange Commission about business referrals between its Mercer consulting arm and Putnam Investments asset management unit.
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Switzerland’s Publica could switch to DC by 2008
SWITZERLAND – The CHF31bn (€19.9bn) public employees’ pension fund Publica could switch to defined contribution in 2008 with parliament poised to discuss a law that would change the fund’s organisation.
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Ex-Petercam exec starts asset mgmt consultancy
NETHERLANDS - Former Petercam Netherlands managing director Edwin Klaver says he has started his own asset management consultancy, aimed at professional investors.
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Heitman promotes ex-ABP real estate exec Spencer
EUROPE - Otis Spencer, the former real estate executive at ABP Investments who joined US real estate firm Heitman LLC recently, has been promoted in a management shake-up.
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Germany, Spain, UK ‘have biggest deficits’
EUROPE - Germany, Spain and the UK have the biggest pension deficits in Europe, according to actuarial consultants Lane Clark & Peacock.
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ECB, BOE say pension fears hit consumption
EUROPE – The European Central Bank and the Bank of England have both acknowledged the role that fears over pensions may be having on consumption.
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Bayer gains €200m from shift to DC in the US
GERMANY – Industrial giant Bayer expects to gain a one-time bonus of €200m in the third quarter, mostly as a result of changes to its US pension plan.
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UK protection fund taps D&B for insolvency risk
UK – The Pension Protection Fund has awarded a two-year contract to credit firm D&B to measure the insolvency risk of companies who provide defined benefit pension schemes.
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Suez’s Electrabel bid follows Calpers’ interest
EUROPE – Today’s €11.2bn offer for Belgium’s Electrabel from Suez SA follows a Calpers-backed request for an enquiry into the firms’ ownership.
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Norway warned over Petroleum Fund transfers
NORWAY – The Organisation for Economic Cooperation and Development has warned Norway to limit transfers from the Petroleum Fund.