All articles by Daniel Brooksbank – Page 192
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EU pension reform plan “insufficient” – World Bank
EUROPE – The World Bank says the European Commission’s way of furthering pan-European pension reform may be “insufficient” – and that its projections on ageing are “very optimistic”.
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Aon loses out to Hewitt at De La Rue
UK – Bank note maker De La Rue has hired Hewitt Bacon & Woodrow to handle the administration of its 740 million-euro pension scheme – resulting in a loss of business for Aon Consulting.
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Russell/Mellon CAPS names European client head
EUROPE – Investment information provider Russell/Mellon CAPS has hired David Harris from Britannic Asset Management to handle clients in Europe and the UK.
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Jardine Lloyd names Glasgow office head
UK - Jardine Lloyd Thompson has hired Roger MacNicol from KPMG to head its Glasgow office.
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M&G gains almost E1bn in institutional funds
UK – M&G says it saw net institutional fund inflows of 704 million pounds (996 million euros) in the first six months of 2003.
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ISIS hit by shift from balanced mandates
UK - ISIS Asset Management says it has been hit by the trend away from balanced mandates.
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UK employers say pension gap to hit investment
UK – The UK’s employers’ body says corporate pension deficits are set to limit the amount of cash available for investment.
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Jardine Lloyd eyes UK pension reform, expansion
UK – Insurance and consulting firm Jardine Lloyd Thompson says its business will benefit from planned UK pension reform – and that it will move into human resource advice and administration.
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Putnam hires J P Morgan bond researcher
EUROPE – Putnam Investments has hired Maria Garcia Lomas from J P Morgan for its European corporate bond research team.
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Mellon GSS hires two for Dublin fund operation
IRELAND – Mellon Financial has made two appointments in its Dublin-based asset servicing arm, Mellon Global Securities Services.
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Universal-Investment’s former MD Guhr dies
GERMAN Y – The former managing director of German asset manager Universal-Investment, Hans-Martin Guhr, has died at the age of 65.
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Dutch fund tenders Asian equities via IPE-Quest
NETHERLANDS – A pension fund in the Netherlands has tendered a 100-milion euro mandate for Asian equities via IPE-Quest.
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Swiss manager tenders three mandates on IPE-Quest
SWITZERLAND – A Swiss asset manager has tendered three active equity mandates worth up to 60 million euros in total via IPE-Quest, covering Europe, Japan and Asia.
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T. Rowe says well positioned for institutions
US - T. Rowe Price Group says it is well positioned for institutional investors following a 3.8% rise in profits.
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UBS GAM global investment chief to retire
GLOBAL – The global chief investment officer of UBS Global Asset Management, Jeffrey Diermeier, is to retire.
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Bacon & Woodrow boosts Hewitt’s revenue
US – Hewitt Associates expects the acquisition of Bacon & Woodrow to fuel a more than 20% growth in its consulting revenues.
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Irish reserve fund returns 5.2% so far this year
IRELAND - The Irish National Reserve Fund has returned 5.2% so far this year, following a -16.1% return in 2002.
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Portugal’s Tranquilidade Vida swings to profit
PORTUGAL – Espirito Santo Financial Group says its life and pensions arm, Companhia de Seguros Tranquilidade Vida, made a net profit of 13.2 million euros in the first half, against a loss of 59.7 million euros a year before.
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LGIM profits rise 8.7% as assets rise
UK – First-half profits at Legal & General Investment Management have risen 8.7% - with assets under management going up to 123 billion pounds (173 billion euros).
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Mercer’s revenues rise 16% to $690m
US – Consulting firm Mercer has seen its quarterly revenues rise by 16% - though sister company Putnam Investments has posted lower revenues.
