All articles by Daniel Brooksbank – Page 82
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News
Man Group names institutional sales head
UK – Hedge fund group Man has named Piers Westerman to the new role of global head of institutional sales.
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Royal Mail pensioners fear scheme wind-up
UK – Pensioners of the Royal Mail pension scheme, which is £2.5bn (€3.6bn) in deficit, have voiced concerns about a possible closure or wind-up of the fund.
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Mellon loses $105m in sale of consulting arm
GLOBAL – Mellon Financial Corp. is selling its human resource-consulting arm for $40m (€31.9m) less than expected – resulting in a loss of more than $100m on the deal.
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Davies to chair UK asset management association
UK – Simon Davies, chief executive of Threadneedle Asset Management, is to take over from Lindsay Tomlinson as chairman of the Investment Management Association.
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Breedon’s promotion leaves gap at LGIM
UK – Tim Breedon, group director of investments at Legal & General Investment Management, is to take over from L&G group chief executive David Prosser.
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World Bank proposes five-pillar pension model
GLOBAL – The World Bank appears to have bowed to criticism of the so-called World Bank pension model by put ting forward a new five-pillar framework.
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ISS targets Europe with Deminor purchase
EUROPE – US-based corporate governance and proxy voting firm Institutional Shareholder Services is to launch a European operation following the purchase of rival Deminor’s governance arm.
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Northern Trust names head of Nordic sales
NORDIC – Northern Trust has named Allan Nedergaard as vice president of Nordic business development for its institutional custody and asset servicing business.
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SGAM gains €4bn in assets
FRANCE - Société Générale’s asset management arm SGAM had net inflows of €4bn in the first quarter of 2005.
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Railpen sees bigger role for absolute returns
UK – Railpen Investments, part of the £15bn (€21.8bn) railways pension scheme, has said it sees an increasing role for the absolute return approach for pension funds.
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Fortis gets OK for Luxembourg pooled LDI funds
LUXEMBOURG - Fortis Investments says it has received approval for pooled liability-driven investment funds from Luxembourg.
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Northern Trust in new pension pooling move
GLOBAL – Northern Trust says it has boosted its pension pooling offering by developing a product that allows multinational companies to “commingle” US pension assets with non-US assets.
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Citigroup fund exec joins Threadneedle
EUROPE - Peter Lindqvist, a director at Citigroup Asset Management, has joined Threadneedle Investments as head of strategic alliances.
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Italian reform reduces redistribution – study
ITALY – A new academic study of the Italian pension reform of the 1990s – which saw a switch into a notional defined contribution system – says the changes reduced both the perverse and good redistribution of the past.
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Equities forgotten as UK schemes shift €58bn
UK – Equities are becoming the “forgotten asset class” as UK pension schemes shifted £40bn (€58.3bn) out of stocks into bonds last year.
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BT, Royal Mail schemes back property fund
UK – The British Telecom, Royal Mail and BAe Systems pension schemes have invested in a real estate fund focused on small retail parks in the UK.
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EU committee sees more pension supervision
EUROPE – The European Union’s committee of pensions supervisors has signalled further supervisory “attention” on occupational pension schemes.
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GSAM names Curtis head of sub-advisory
UK - Goldman Sachs Asset Management has appointed Merrill Lynch’s David Curtis to the new role of head of sub-advisory.
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UK €8.7bn scheme transferring to Dublin CCF
UK – A £6bn (€8.7bn) UK-based pension fund is being transferred into a Dublin-domiciled Common Contractual Fund, according to a report from the Investment Management Association.
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Watson Wyatt names global benefits head
GLOBAL – Watson Wyatt Worldwide has named Gene Wickes as global director of benefits consulting.
