All articles by Daniel Brooksbank – Page 80
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News
UK regulator names three executive directors
UK – The UK’s new Pensions Regulator has named three executive directors for strategy, business delivery and business support.
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Lothian scheme awards £380m equities mandates
UK - The £2bn (€2.98bn) Lothian Pension scheme has appointed three new fund managers to run a total of £380m in global and Europe (ex-UK) equities.
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Dexia and RBC to combine custody arms
EUROPE – Dexia and Royal Bank of Canada are to combine their institutional investor services businesses in a joint venture that will have US$1.8trn (€1.47trn) in assets under custody.
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France's FRR names private equity consultant
FRANCE - The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund has named a consultant to help it choose private equity managers.
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Governance group GES sets up engagement forum
EUROPE – Corporate governance consulting firm GES Investment Services has set up an ‘engagement forum’ for pension funds.
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Watson Wyatt reviewing brand amid merger
GLOBAL – Consulting firm Watson Wyatt is reviewing its branding following the merger of its US and European arms.
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EU meeting set as fears grow for IORP directive
EUROPE – There is to be a meeting at the European Parliament next week amid a fear that some EU member states will not be ready for the directive on occupational pensions.
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Low rates hit British Airways’ pension gap
UK – Airline group British Airways says its pension deficit has grown by more than £200m (€297.9m) due to lower long-term interest rates.
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ETF market set to consolidate, executives say
EUROPE – The exchange traded funds market is set to consolidate, according to some of the sector’s leading executives.
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UK gives employees more voice in pensions
UK – The UK government says employees will have more say in pensions changes under new proposed regulations published today.
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Timetable unclear for EU portability directive
EUROPE – The European Commission is unable to say when it will present the planned draft directive on pension portability.
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SocGen names investor services sales head
GLOBAL - Société Générale has named Sébastien Danloy as global head of sales for investor services at its securities services arm.
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ING buys Slovakia pension fund for €35m
SLOVAKIA – Dutch banking group ING has signed an agreement to buy Slovakian private pension fund VSP Tatry Sympatica for €35m.
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Sweden’s AP2 and AP3 get new board members
SWEDEN – The Swedish government has made new board appointments at AP2 and AP3, two of the six national buffer funds.
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Deutsche revamps Swiss asset management
SWITZERLAND - Deutsche Bank has revamped the executive team at its Swiss asset management divisions DWS and Deutsche Asset Management.
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Strike threat over Irish print scheme wind-up
IRELAND – Workers are to be balloted about a possible strike over a plan to wind-up the Irish Master Printers Association’s final salary pension scheme.
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ABP-backed fund buys into Dutch utility
NETHERLANDS – Macquarie Bank’s European infrastructure fund, which is backed by institutional investors such as Dutch pension fund ABP, has agreed to buy a 49% stake in utilities group NRE Holding for around €80m.
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BT CEO gets pension boost amid scheme deficit
UK – Ben Verwaayen, chief executive of telecoms firm BT Group, has had his pension contributions boosted by the company – although the company’s main scheme is £3.3bn (€4.8bn) in deficit.
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UK DB schemes ‘in €192bn pension deficit’
UK – UK defined benefit pension schemes are more than £130bn (€192bn) in deficit, according to the Association of Consulting Actuaries.
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EFRP calls for correct transposition of directive
EUROPE – The European Federation for Retirement Provision says the correct transposition of the occupational pension fund directive could be undermined by a draft protocol by the EU’s committee of pensions supervisors.
