All articles by Daniel Brooksbank – Page 74
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US custodians unveil second-quarter figures
US – Three large US securities services specialists, Northern Trust, Mellon Financial and the Bank of New York, have released second quarter assets under custody figures.
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Supervisory convergence key for CEIOPS – Trichet
EUROPE – The success of the EU committee of pensions supervisors, CEIOPS, will be judged on how it achieves “supervisory convergence” says European Central Bank president Jean-Claude Trichet.
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Fidelity International names new CIO
EUROPE – Fidelity International says Michael Gordon will take over as chief investment officer from Simon Fraser, who becomes president of the UK and European institutional business.
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Denmark’s PKA grows to more than €13bn
DENMARK – Pensionskassernes Administration, the third largest pension provider in Denmark, says its first-half return of 12.1% has taken its market value to more than DKK100bn (€13.3bn).
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State Street earnings flat as expenses rise
US – State Street Corp. has reported flat second-quarter earnings as expenses have risen by 8% to more than $1bn (€835m).
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BNP Paribas longevity bond gets no takers
GLOBAL – BNP Paribas says it has not had enough investor interest in its so-called longevity bond for UK pension schemes.
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European fund body EFAMA looking for new head
EUROPE – The European Fund and Asset Management Association is looking to hire a new director general to take over from Steffen Matthias when he retires.
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IMF sees economic impact of Dutch pension rules
NETHERLANDS – The International Monetary Fund says there could be “macroeconomic consequences” of new pension fund coverage requirements in the Netherlands.
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Coal schemes raise stakes in ex-nuclear firm AEA
UK – The two main coal industry pension schemes have raised their stakes in AEA Technology, part of the former state-owned Atomic Energy Authority which still has some nuclear business activities.
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ABP hit by low interest rates
NETHERLANDS - Stichting Pensioenfonds ABP, Europe's largest pension fund, says its financial position "deteriorated" in the second quarter due to low interest rates.
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EU says fund proposals to aid pension crisis
EUROPE – The European Commission says new investment fund proposals released today will help tackle the continent’s pensions crisis.
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Irish reserve fund commits €3bn to private equity
IRELAND – The €13.5bn Irish National Pensions Reserve Fund says it plans to commit around €3bn to private equity in the next five years or so.
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BGI names Pictet's Locher as Swiss chief
SWITZERLAND - Barclays Global Investors has hired Pictet's Claire Locher to head its new Swiss operation.
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Former Mercer London chief joins new firm
UK – Paul Couchman, the former head of consulting for London and the southeast of England at Mercer Human Resource Consulting, has joined two-year-old consulting firm Premier Pensions Management.
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UK schemes ‘taking €43bn from equity market’
UK - Mercer Investment Consulting says UK pension funds are taking around £30bn (€43.6bn) a year out of equities.
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BBC to review contributions after valuation
UK – The BBC, the state-owned broadcaster, is to review employer and employee pension contributions once the results of an actuarial valuation of its £6bn (€8.7bn) scheme are known.
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Finnish system among EU best – pensions centre
FINLAND – The financial sustainability of Finland’s pension system is among the best in the European Union, says the head of the country’s pensions centre.
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UK’s Field says NAPF mistaken on rebate
UK – Former pensions minister Frank Field has said the National Association of Pension Funds’ call for a withdrawal of a £9bn (€13bn) national insurance rebate into pensions is “mistaken”.
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Ex-DWS chief takes chair at governance group
GLOBAL - Former DWS chief executive Christian Strenger has been named chairman of the International Corporate Governance Network , succeeding Alastair Ross Goobey.
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Consultants’ reactions to PPF levy proposals
UK – The following is a selection of comments from pensions consultants in reaction to today’s consultation on the risk-based levy issued by the Pension Protection Fund.
