All articles by Barbara Ottawa – Page 118
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State Street announces 17% rise in assets under custody
GLOBAL – State Street saw its assets under custody rise by 17% in the last year with its investment arm State Street Global Advisors (SSGA) raking in a 21% increase in assets under management.
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Scottish Widows seeks new head
UK – Scottish Widows Investment Partnership (SWIP), the £102bn (€155bn) asset manager of Lloyds TSB, is in the hunt for a new chief executive officer.
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London Borough in search for £150m overlay manager
UK – The north London Borough of Haringey’s £447m (€678.5m) pension scheme is looking to appoint an active currency overlay manager for a portfolio in excess of £150m.
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Ethos demands vote on remuneration
SWITZERLAND - The Ethos Foundation, a Geneva-based sustainable investor, wants local companies to let shareholders vote on remuneration policies.
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Portuguese equities return 32.5%
PORTUGAL – Portuguese pension funds returned 8.8% in 2006, down from 9.2% in 2005, according to Watson Wyatt.
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Ex-Ericsson fund chairman banned for dishonesty
UK – A former HR manager at mobile phone giant, Ericsson, has been struck off as a trustee for trying to fiddle benefit calculations to the tune of £13.4m (€20m).
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Slovenian reform ‘has not helped labour participation rates’
SLOVENIA – The country’s pension reform has been criticised in a report for the International Monetary Fund (IMF) for having created more incentives for early retirement .
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Syndicate moves into institutional market with EPIC buy
UK – Syndicate Asset Management (SAM) buys EPIC Investment Partners (EIP) to make its first major step into institutional asset management. The £17.7m deal brings (SAM) £2.5bn (€3.9bn) worth of institutional assets under management.
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Pensions lawyer says concerns over ECJ ruling ‘over the top’
UK – The current concern caused by an imminent European Courts of Justice (ECJ) ruling on government pension protection liabilities is “over the top”, a pension lawyer tells IPE.
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NBIM on recruitment trail for range of positions
NORWAY – In a major move to strengthen its team Norges Bank Investment Management (NBIM) is recruiting around 10 people in various departments.
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Muysken quits Mercer for hedge fund role
UK – After 14 years, Bill Muysken, gobal head of research at Mercer Investment Consulting is leaving to join the London-based hedge fund multi-manager Thames River Capital.
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Former pensions regulator joins board of major bank
IRELAND – Anne Maher, former CEO of The Pensions Board, the Irish pensions regulator, is one of three new appointments to the board of the Allied Irish Banks (AIB), one of the country’s major banking groups.
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Former LPFA CEO Scales to receive OBE
UK – Peter Scales, former CEO of the London Pensions Fund Authority (LPFA), will be honoured with the Order of the British Empire (OBE) for his services to local government after a 41 year career in local government finance.
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Watson Wyatt urges funds to put governance first
UK – Half of UK pension funds governance arrangements do not match investment strategies, consultants Watson Wyatt found in a new survey. It urged pension funds to address this issue to avoid “destruction of value”.
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Austria’s ÖPAG to take first steps cross border
AUSTRIA – ÖPAG, one of Austria’s multi-employer pension funds, will offer pensions in other EU member states.
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IPE-QUEST: Danish institutions looking for hedge manager
EUROPE – A small number of Danish institutional investors is looking for a global multi-strategy hedge fund of fund manager for a mandate in excess of €25m using IPE-QUEST (QN 689).
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Engineers tap DC link for pension admin
UK – The Engineering Employers’ Federation Staff Pension Fund (EEF) has appointed DC Link as third-party pension administrator for its multi-employer DC plan.
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Dutch bank takes 69% voting rights in Sarasin
SWITZERLAND – Rotterdam-based Rabobank has increased its stake in the Swiss bank, Sarasin from 16% to 46% and is now holding almost 69% of the voting rights.
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Denmark tops European pension poll
EUROPE – Denmark has Europe’s healthiest pension system, followed by Estonia and Ireland, according to Aon Consulting’s European Pensions Barometer.
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IPE-QUEST: €190m US equities mandate from Danish fund
EUROPE – In the latest search on IPE-QUEST (QN688) a Danish pension fund is looking to appoint a $250m (€192m) US large cap equity manager.
