All articles by Cecilia Valente – Page 24
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Isle of Man OKs new pensions rules
ISLE OF MAN - The Isle of Man's parliament, the Tynwald, has approved the Retirement Benefits Schemes Regulations 2004, which require schemes operating in the island to register with the Insurance and Pensions Authority.
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Deutsche offshore chief Fitzjohn retires
CHANNEL ISLANDS - Gordon Fitzjohn, global head of corporate services at Deutsche Bank International Ltd., the group’s arm that provides offshore banking and financial services capability, is to retire after 25 years with the bank.
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BNP Paribas boosts Spain securities services
SPAIN - BNP Paribas Securities Services has appointed the chief executive for the integrated securities services arm of Santander Central Hispano Investment SA as deputy general manager in Spain - a new role.
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Italy’s Solidarieta’ Veneto tenders for managers
ITALY - Solidarieta’ Veneto Fondo Pensione, the regional pension fund for blue-collar workers, is looking for three asset managers for its 60-million-euro fund.
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Bank of NY boosts Milan office with hires
ITALY - The Bank of New York has boosted its Milan office with hires from BNP Paribas and Credito Emiliano in a bid “to exploit new opportunities in this growing market”.
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Pictet senior partner Charles Pictet to leave
SWITZERLAND - Pictet & Cie’s senior partner, Charles Pictet, is leaving the company after 36 years to join the seven-member Swiss Federal Banking Commission (SFBC), the authority that controls the country’s financial sector.
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Denmark’s ATP eyes US with future under debate
DENMARK – The 27 billion-euro statutory pension provision fund, ATP, is in the process of selecting asset managers as it enters the US mortgage-backed bond market.
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Swiss schemes’ real estate allocation rising
SWITZERLAND – Swiss pension funds’ allocation to real estate has grown 50% in the last two years Credit Swiss Asset Management says.
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Italy’s Marco Polo tenders admin, depositary
ITALY - Marco Polo-Fond Pensione, the pension scheme targeting the 800,000-strong tourism sector, has tendered for a depositary bank and an administrative service provider.
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SSGA names Europe balanced head
FRANCE – State Street Global Advisors has appointed Frederic Dodard to the new role of head of balanced portfolio management for Europe.
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Charles Pictet critical of pensions accounting
SWITZERLAND - Charles Pictet, senior partner at Pictet et Cie, has said the implementation of the IAS19 reporting standards for pensions in Switzerland goes against the principles of the second pillar.
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Call for “predictable” Swiss pension rate
SWITZERLAND - Swiss pension funds should see their real coverage ratio as 10-15% lower than their technical estimate, a consultant has warned – calling for a “predictable minimum interest rate policy”.
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Hermes hires London pension scheme’s Nash
UK - David Nash, investment officer for the 2.8 billion-pound (4.02 billion-euro) London Pensions Fund Authority, has left the pension fund to join Hermes Pensions Management.
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Austria attracts foreign pension funds – bourse
AUSTRIA – Developments in the Austrian stock market are attracting foreign pension funds, a bourse official has told IPE.
