All IPE articles in August 2006 (Online) – Page 8
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Germany’s MLP axes sales chief
GERMANY – Financial services firm MLP has parted company with its chief sales executive following weak sales of its occupational and private pensions during the second quarter.
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Varma’s first-half returns slump to 1.3%
FINLAND – The €25.3bn Varma Mutual Pension Insurance Co. made a return on its investments of 1.3% in the first half – down from 6.7% a year before.
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Dutch put extra €1.4bn into first pillar
NETHERLANDS – The Dutch government has increased its payments into the AOW first-pillar pension system by €1.4bn in 2005, according to official figures.
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Ireland debates mandatory system
IRELAND – The Irish government has been advised by the Pensions Board to implement an increase in the state pension and create a new mandatory supplementary system.
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Mercer facing review at Derbyshire
UK - The £970m (€1.52bn) Derbyshire County Council Pension Fund has tendered for the supply of actuarial services, until now managed by Mercer Human Resource Consulting.
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Complementa in hedge fund web move
SWITZERLAND – The consultant Complementa has teamed up with ZHW, a banking and finance institute at a Winterthur college, to launch a new website aimed at improving transparency of hedge funds for Swiss investors.
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Fortis institutional sales director exits
NETHERLANDS - Robert Lobo, director of institutional sales at Fortis Netherlands, has left the company, Fortis has confirmed.
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BBC scheme taps Hermes for ownership advice
UK – The £7.5bn (€11.1bn) BBC Pension Scheme has joined the British Coal Staff Superannuation Scheme and Stichting Pensioenfonds ABP as clients of Hermes’ equity ownership service.
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German blue chips’ pension funding improves
GERMANY – The average funding ratio for the pension schemes of firms traded on Germany’s Dax-30 equity index improved to almost 60% on June 30, according to a new study by consultant Rauser Towers Perrin.
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Nestlé CEO: pension funds are main stakeholders
SWITZERLAND - Peter Brabeck-Letmathe, chairman and chief executive of Nestlé, has acknowledged pension funds’ role as primary stakeholders in the food group.
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German firms with 'greatest pension risk'
GERMANY - German companies have much more exposure to pensions risk than firms elsewhere in Europe, according to new research from Mercer Human Resource Consulting.
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ESPS terminates €1.48bn F&C real estate brief
UK – The €27bn Electricity Supply Pension Scheme has terminated its £1bn (€1.48bn) real estate mandate with F&C, the asset manager says.
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Church of England names finance chief
UK - Jackie Bliss has been appointed as director of Finance for the National Church Institutions of the Church of England.
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Fonchim names Scapolo president
ITALY – Fonchim, the €4.5bn industrywide pension fund for Italy’s chemical and pharmaceutical industry workers, has appointed Luciano Scapolo as its new president.
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ABP, PGGM get double boost from Philips
NETHERLANDS – Dutch pension fund giants have ABP and PGGM have had a double boost from technology firm Royal Philips Electronics recently.
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Ireland personal account assets top €544m
IRELAND – Assets held by the new Personal Retirement Savings Accounts in Ireland have risen to more than €544m as at the end of the second quarter.
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Germany’s BVV gets WestLB deal
GERMANY – BVV, a €17.7bn pension fund for the German financial services industry, says it will provide a corporate pension to employees at Landesbank WestLB – the fourth Landesbank it has acquired as a client.
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Aon Consulting profit down 20%
GLOBAL – Profit and revenue at Aon Consulting slipped in the second quarter, parent Aon Corp. said.
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Hewitt delays third-quarter earnings
GLOBAL – Pension consulting and human resources firm Hewitt Associates has delayed its third-quarter earnings announcement.
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Swiss schemes named in insider trading probe
SWITZERLAND – Five Swiss pension funds, including one for technology firm Siemens and one for pharmaceuticals firm Roche, have been named in connection with insider trading that allegedly took place ahead of a merger between two Swiss banks.
