All articles by Daniel Brooksbank – Page 176
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Lane Clark & Peacock earns E2.6m profit
UK – UK actuarial consulting firm Lane Clark & Peacock made a profit of 1.8 million pounds (2.6 million euros) in the six months to the end of September, figures from its parent company show.
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Funded systems better for economy – Deutsche
EUROPE – A new report from Deutsche Bank argues that countries with funded pension systems are at an advantage as populations get older.
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FEFSI sees no evidence of market timing in Europe
EUROPE – The European investment fund industry trade body FEFSI says there is no evidence of US-style market timing problems in the European market.
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Hewitt's global consulting revenues rise 22%
GLOBAL - Hewitt Associates' net consulting revenues rose 22% in the 2003 fiscal year, driven by the acquisition of Bacon & Woodrow in 2002.
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Watson Wyatt & Co. cautious about revenues
GLOBAL – Consulting firm Watson Wyatt & Co. says it is cautious about the outlook for revenues in the 2004 fiscal year.
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Commission sets up occupational pension groups
EUROPE – The European Commission has set up occupational pensions regulatory and supervisory committees as part of a series of measures to help it respond to developments in the financial sector.
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Irish group managed funds rise 4%
IRELAND – The average Irish group pension managed fund rose by around four percent in October, according to new data.
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Swiss consultant tenders 3 mandates via IPE-Quest
SWITZERLAND – Swiss consultant Complementa Investment-Controlling has tendered three mandates worth up to 200 million dollars via IPE-Quest.
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CSAM sees E3.5bn institutional outflow
GLOBAL – Credit Suisse Asset Management saw an outflow of four billion dollars (3.5 billion euros), mostly from institutional clients, in the third quarter of this year.
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Chile’s Piñera sees growing global PAYG crisis
GLOBAL – The architect of Chile’s pension reform, José Piñera, says demographic “megatrends” will accelerate the crisis in pay-as-you-go pension systems.
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Aon buys Dutch actuary Consultas from ABN Amro
GLOBAL – Aon has completed its previously announced acquisition of Dutch actuarial consulting firm Consultas from ABN Amro for an undisclosed sum.
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Sweden’s Alecta names equities chief
SWEDEN – Occupational pension fund manager Alecta has hired Nordea’s Peter van Berlekom as its new head of equities.
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Putnam Investments’ chief executive Lasser to leave
GLOBAL – Marsh & McLennan Companies has replaced Lawrence Lasser as chief executive of its Putnam Investments arm amid a regulatory investigation into the firm’s trading practices.
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Netherlands’ TNO scheme opts for Hewitt
NETHERLANDS – The 1.2 billion-euro pension scheme of Dutch research institute TNO has chosen Hewitt Heijnis & Koelman as actuary and pensions consultant.
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Morley hires Aberdeen’s Garrett-Cox as CIO
UK – Morley Fund Management has named Katherine Garrett-Cox to succeed chief investment officer Gerry Holtham.
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KAS Bank names successor to chairman
NETHERLANDS – Dutch custody services group KAS Bank has named Peter Goebel to succeed chairman F.S. von Balluseck.
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UK pension consulting firm Argentia to close
UK – Argentia Pension Consultants Ltd. is to close, with founder Tim Sharples joining actuarial consulting firm Lane Clark & Peacock.
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Enormous potential for retirement products in Europe
GLOBAL – The retirement provision and asset management industries will profit the most from demographic ageing, according to a new report from Deutsche Bank.
