All articles by Daniel Brooksbank – Page 196
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AMS pension tax case seen resolved by year-end
UK – The pension taxation case of computer firm AMS Management Systems is expected to be resolved by the end of the year – helped by yesterday’s ruling against Swedish pension tax treatment by the European Court of Justice.
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HSBC’s actuarial arm hires Hewitt’s Latham
UK - HSBC Actuaries and Consultants Ltd has hired Robert Latham from Hewitt Bacon & Woodrow to be its new actuarial director in its pensions consulting practice.
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Watson Wyatt’s Loughlin returns to New York
UK – Watson Wyatt says its global defined contribution coordinator, Christine Loughlin, is to return to its New York office after a two-year stint in the UK.
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Sweden’s IPM expands First Quadrant venture
SWEDEN – Swedish investment strategy firm Informed Portfolio Management has expanded its European marketing deal with California-based First Quadrant.
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UBSi and Euraplan in pension governance deal
UK - Pension governance software firm United Business Solution International Group, or UBSi, has signed a marketing agreement with accounting software provider Euraplan.
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Citigroup set to run Standard Life funds
UK – Citigroup Global Transaction Services is set to take over fund administration for Standard Life Investments in a deal that would see the US bank take over the administration of around 70 billion pounds (101 billion euros) of funds.
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UCITS III "to boost pan-European fund admin"
EUROPE - The European directive on collective investments known as UCITS III is expected to lead to the emergence of pan-European fund administration services, according to a report backed by securities services specialist Bank of New York.
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HSBC AM says shift to bonds has peaked
UK – The new head of equities at HSBC Asset Management reckons that pension funds’ shift to bonds has peaked – and that pension deficits will be a drag on stock market performance.
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J P Morgan in swoop for Citigroup's McGonagle
UK – J P Morgan’s securities services arm has hired Teresa McGonagle from rival Citigroup Global Transaction Services.
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European court rejects Swedish pension tax rules
SWEDEN – The European Court of Justice has rejected Sweden’s treatment of pension taxation in its final ruling in the so-called Skandia case – a move seen as helping to open Europe’s pension market.
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Euro zone “needs comprehensive pension reform”
EUROPE – The euro zone needs comprehensive pension reform or the fiscal position will become unsustainable, says the International Monetary Fund.
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European private equity to “pick up in 2004”
EUROPE – The European private equity market is expected to pick up from the end of this year and going into 2004, says law firm S J Berwin.
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Goldman Sachs asset mgmt revenues fall 9%
US – Revenues at Goldman Sachs’ asset management division fell nine percent in the second quarter.
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Report: 3,000 State Street staff seek redundancy
US – According to a newspaper report, 3,000 State Street employees have applied for voluntary redundancy under the bank’s cost-cutting plan.
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Former Mercer manager joins Stamford
UK – Roger Cobley, former manager of international consulting at Mercer, has joined consultancy firm Stamford Associates as a director.
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Dutch research backs career-average pension
NETHERLANDS – Research backed by the Dutch government has found that a move to career-average pensions would help to limit the impact of demographic ageing.
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UK Pension Commission to report by summer 2005
UK – The new Pension Commission, set up by the government to review private pensions and long-term savings, plans to issue its first report in two years’ time.
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HSBC says UK pension funds rise 10%
UK – HSBC says balanced pooled pension funds in the UK increased in value by more than 10% in the three months to May 30 – with Baillie Gifford the best performing manager.
