All articles by Daniel Brooksbank – Page 75
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Mercer HR Consulting names COO and president
GLOBAL - Mercer Human Resource Consulting has named a new chief operating officer and president, both new roles.
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UK protection levy to cost more than estimated
UK – The Pension Protection Fund has admitted that the total amount to be levied on schemes will be “somewhat higher” than the £300m (€435m) originally estimated.
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JP Morgan unveils performance measurement system
GLOBAL – JP Morgan has launched a new performance measurement system for clients such as pension funds, asset managers and insurers.
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IPE-QUEST: European scheme tenders up to €150m
EUROPE – A European pension fund has tendered up to €150m in euro zone large-cap core equities via IPE-Quest.
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UK’s Environment Agency appoints two specialists
UK - The Environment Agency says it has appointed Morley Fund Management and Robeco to manage specialist three-year mandates worth £60m (€87.2m) each, or 5% of the total portfolio.
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Ten staff leave as Whitbread outsources (Update)
UK – Restaurant and hotel operator Whitbread has outsourced its previously in-house defined benefit pensions administration – resulting in 10 staff leaving (Updates with Whitbread comment).
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Achmea under scrutiny at Dutch metals fund PME
NETHERLANDS – Common pension management firm PVF Achmea is under scrutiny at €16bn Dutch metals industry pension scheme PME, Bedrijfstakpensioenfonds Metalektro, which is looking at costs and service standards.
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Former BA pension chief joins trustee group
UK – Jenny Rosser, former managing director of pensions at airline group British Airways, has joined independent pension trustee firm BESTrustees.
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Dutch rail scheme joins broker research group
NETHERLANDS – SPF Beheer, which manages €10bn for the Dutch railways pension fund, has joined the Enhanced Analytics Initiative – which seeks to improve brokerage research.
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SSGA to grow alternatives “as fast as we can”- FT
GLOBAL – State Street Global Advisors plans to grow its alternatives business “as fast as we can”, according to an interview with State Street chief executive Ron Logue in the Financial Times.
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IPE-QUEST: insurer tenders $100m
SCANDINAVIA – A Scandinavian life insurer has tendered a $100m (€83m) Japanese equity mid-cap core mandate via IPE-Quest.
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Lehman names European asset management head
EUROPE – Investment banking group Lehman Brothers has hired former Credit Agricole executive Thierry Sciard as head of investment management for Europe, a new role.
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Buck to replace investment consulting head
UK - Buck Consultants is set to name a new head of investment consulting following the departure of incumbent Paul Black to Lane Clark & Peacock.
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Dutch schemes’ Harcourt in Swedish hedge move
SWEDEN - Harcourt Investment Consulting, the Swiss hedge funds business that is ultimately majority owned by ABP and PGGM through NIB Capital, has launched a Swedish hedge fund index.
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“Discontinuous event” fears for hedge funds – S&P
GLOBAL – The growth of hedge funds and the derivatives they use may amplify the impact of the next “discontinuous event”, Standard & Poor’s has warned.
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CalPERS invests €21.7m in Californian vineyards
US – CalPERS, the largest US pension fund, has bought Californian vineyards for $26m (€21.7m) – looking for a return above 16%.
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UK public finance institute names pensions chair
UK – The pensions panel at the Chartered Institute of Public Finance and Accountancy has a new chairman - Bob Summers, director of finance at Norfolk County Council.
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Mercer launches variable DB plan in US
US - Mercer Human Resource Consulting has introduced a new pension arrangement in the US similar to so-called variable benefit plans.
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Dutch schemes confirm talks to sell NIB Capital
NETHERLANDS - The two largest Dutch pension funds are in talks to share their stakes in merchant bank NIB Capital to a grouped headed by former Goldman Sachs executive Christopher Flowers.
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Fidelity names Benelux institutional head
BENELUX – Fidelity has appointed Vanguard’s Theo van der Meer as head of institutional business in Benelux.
