All articles by Cecilia Valente – Page 9
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Italy eyes date for second-pillar boost
ITALY – Italian welfare minister Roberto Maroni has said that one of the main aspects of the pension reform aimed at developing the second pillar could be implemented in July - in spite of a continued lack of clarity about the regulator.
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Greece considers new bank pension scheme
GREECE – The Greek government, bankers and the Bank Workers Federation, are in talks about the sector’s fragmented system, which could end with the launch of a single pension fund.
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ABN Amro Mellon poaches DB's Korsanke
EUROPE - ABN Amro Mellon Global Securities Services has poached Robert Korsanke from Deutsche Bank as the new senior sales manager for its Frankfurt office.
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S&P launches default assessment for trustees
UK - Rating agency Standard & Poor's has launched a service for UK pension scheme trustees, which it says enables them to independently gauge the default risk of the sponsor.
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Italian bank seeks insurer for €85m pensions
ITALY – Italian bank Cassa di Risparmio di Parma e Piacenza SpA is looking for an insurance company for its €85m corporate pension fund.
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Italian pension regulator ‘reassured’ on powers
ITALY – The president of pension regulator Covip said he was satisfied the agency will be given back full power of supervision on pension-related investments in spite of late legislation.
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Pension funds face climate-change risks, says report
UK- The pensions industry needs to recognise the long-term impact of climate change and adapt their asset and liability management strategies accordingly or they face an uncertain future, according to a report by UK merchant banking group Climate Change Capital.
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F&C sides against limiting voting rights in France
FRANCE - Investment manager F&C has vowed to turn up pressure on French companies to end the practice of limiting voting rights.
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HSBC’s Finch launches boutique Tri Investments
UK - Christopher Finch, former head of pensions product development at HSBC Asset Management, has left the firm to set up a specialist investment boutique for institutional and retail investors.
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Swiss Post executive resigns over vote at Nestle AGM
SWITZERLAND - Jürg Bucher, head of the investment committee for the CHF11bn (€7.1bn) pension fund for Post employees, Post PK, has bowed to mounting pressure to resign after voting in favour of Nestle’s CEO Peter Brabeck becoming group chairman as well.
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Unconstrained bonds management adds value-Hewitt
FRANCE – Institutional investors with sizeable bonds portfolio should consider unconstrained mandates, according to Vincent Puche, head of Hewitt Associates’ Parisian practice.
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Europe drives Hewitt’s consulting growth in Q2
GLOBAL – Consulting and HR firm Hewitt Associates, reported a 4% revenue increase in its consulting segment in the second quarter thanks to a growth in retirement plan management consulting in Europe.
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L&G ready for capped index investments fund
UK – Legal &General is ready to operate a capped index investment fund for institutional investors requiring broader diversification as large cap UK companies increase in size and weighting.
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Credit Suisse pension business down amid 3% growth
SWITZERLAND – Credit Suisse Group’s pension-related business including asset management and insurance, has recorded a down-trend in the first quarter of 2005 in spite of the group recording a 3% net income growth.
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MLIM taps Gartmore’s Price as CIO EMEA Pacific
UK – Merrill Lynch Investment Managers (MLIM) has hired Gartmore’s Quintin Price as chief investment officer (CIO) for the Europe, Middle East, Africa and Pacific region (EMEA Pacific).
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Danish funds seek US equity managers via IPE-Quest
DENMARK – Two Danish Pension funds have started a search for a North American equity manager via IPE-Quest.
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Italy- pension investment rules ready by May 15
ITALY – A top-official for the Italian welfare ministry said that the government will be ready to present new rules for pension-savings investments by the first half of May.
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Pension liabilities threat to Swiss cantons-S&P
SWITZERLAND – Swiss cantons and municipalities’ pension liabilities “pose a threat” to their credit quality, according to rating agency Standard & Poor's (S&P).
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Ireland gives lowest pension replacement rates
GLOBAL – Ireland is the European country with the lowest net replacement rates of pensions to incomes within the Organisation for Economic Co-operation and Development (OECD).
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West Sussex CC makes State Street sole custodian
UK - The 740 million pounds (Euro 1.08 billion) West Sussex County Council Pension Fund has consolidated custody of its assets under State Street Corporation, one of its existing custodians.
