All articles by Daniel Brooksbank – Page 178
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ABN Amro and unions sign pension accord
NETHERLANDS - Dutch banking unions have signed an accord with ABN Amro to investigate ways of cutting pension costs.
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Aegon’s van de Geijn to head Zurich life business
SWITZERLAND – Zurich Financial Services has hired Aegon’s Paul van de Geijn as its chief executive of life insurance business, a new role.
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OPRA sets up whistleblower “traffic light” system
UK – The UK’s occupational pensions regulator has set up a “traffic light” system to simplify the procedure for whistleblowing when a scheme gets in difficulties.
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Amvescap confident about 2004, CFO retires
GLOBAL – Fund management firm Amvescap said it is confident about profits going forward, and added that its chief financial officer is to retire.
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Institutional investors gaining confidence says new index
GLOBAL – Institutional investors’ confidence rose in October, according to a new State Street index.
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CSAM names Brumby as corporate governance officer
UK - Credit Suisse Asset Management UK has named Richard Brumby in the role of corporate governance officer.
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Ex-Watson’s van Aalst sets up own consultancy
NETHERLANDS – The former head of Watson Wyatt’s Dutch investment practice, Paul van Aalst, is setting up a new consulting firm called Strategeon Investment Consultancy.
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Eurostat issues ruling on pension transfers
EUROPE – The European statistical office, Eurostat, has ruled that the transfer of unfunded corporate pensions to governments counts as revenue.
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Mercer’s consulting margin declines to 13.9%
GLOBAL – Mercer’s consulting margin has slipped to 13.9% in the third quarter from 14.3% a year ago, according to parent company Marsh & McLennan.
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BoNY wins E3.7bn CIS custody mandate
UK – The Bank of New York has been awarded a 4.3 billion-dollar (3.7 billion-euro) global custody mandate by the UK insurer the Co-operative Insurance Society.
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Morley Fund Management names Watson as CFO
UK - Morley Fund Management has named former M&G Group finance director David Watson as its new chief financial officer.
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Citigroup’s asset management income falls
GLOBAL – Citigroup says its asset management net income declined 37% to 72 million dollars in the third quarter, compared to the prior-year period, while the division’s revenues slipped two percent.
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Finland needs more ambitious pension reform
FINLAND – Finland needs more ambitious pension reform, says the International Monetary Fund.
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Sweden: SEB in socially responsible tie with SWIP
SWEDEN - Skandinaviska Enskilda Banken has made a global socially responsible investing (SRI) tie up with Scottish Widows Investment Partnership.
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UK urges firms to provide more pension details
UK – The government has called on companies to provide more details about pensions to their employees.
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Higher retirement age to cut Slovakia spending
SLOVAKIA – The recent rise in the age of retirement age should enable the government of the Slovak Republic to make savings, the International Monetary Fund said.
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SunGard in European pensions push
GERMANY – Software firm SunGard has amended a US retirement product for the German market – and is eyeing other European countries.
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Watson Wyatt boosts Swedish benefits practice
SWEDEN – Consulting firm Watson Wyatt has named Stefan Carlsson as a senior consultant in its benefits practice.
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Germany proposes pension freeze
GERMANY – Chancellor Gerhard Schroeder says it’s the hardest thing his government has done – freezing pensions for 2004.
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Deutsche buys Dresdner’s German custody unit
GERMANY – Deutsche Bank has bought Dresdner Bank’s German custody arm for an undisclosed sum.
