All articles by Daniel Brooksbank – Page 98
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Ireland sees no scope for pensions complacency
IRELAND – The head of the Irish central bank has said that the country must not get complacent about how it deals with the pensions crisis.
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Deutsche denies it plans to sell DeAM in UK
GERMANY - Deutsche Bank has poured cold water on speculation in London that it is on the verge of selling all or part of Deutsche Asset Management in the UK, stressing that its first priority is “to fix the business”.
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ABN Amro AM lost almost 10% of staff in 2004
NETHERLANDS – ABN Amro Asset Management’s staff numbers fell almost 10% in 2004 amid a levelling off of assets under management.
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French treasury may issue 50-year bonds
FRANCE – The French treasury is consulting on the possibility of issuing a 50-year government bond to meet the demands of investors
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Irish government boosts CCF asset pooling
IRELAND – The Irish government is planning to launch a general version of its tax-transparent Common Contractual Fund that is not confined to UCITS regulations – giving a boost to asset pooling.
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Expenses scandal at EU social committee
EUROPE - The European Economic and Social Committee, a European Union consultative body set up in 1957, has become embroiled in a scandal over travel expenses.
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Hewitt consulting profit rises 16%
GLOBAL – Hewitt Associates says its consulting profit rose 16% to $26m in the first quarter, while revenues at the division were up seven percent.
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Watson Wyatt & Co. benefits group profit slips
US – US-based Watson Wyatt & Co., which is merging with its European affiliate, saw profits at its benefits group slip more than five percent in the second quarter.
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UK's Turner warns on obesity and pensions
UK - The chairman of the Pensions Commission, Adair Turner, has warned that rising obesity could hit pension dependency ratios in the future.
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Storebrand enters Swedish pensions market
SCANDINAVIA – Norway’s Storebrand Livsforsikring says it plans to open a branch operation in Sweden to offer occupational pension products.
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S&P cuts NIB ratings, citing ABP and PGGM
NETHERLANDS – Standard & Poor’s has downgraded its rating on NIB Capital because it thinks the merchant bank has become less important to owners ABP and PGGM.
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EU says countries have more to do on pensions
EUROPE - The European Commission has released its assessments of a number of European countries' progress towards economic convergence, and found more to do in terms of pension reform.
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Insight outsources 90 jobs to Northern Trust
EUROPE - Insight Investment is to outsource its middle and back office investment operations to Northern Trust - with up to 90 staff transferring.
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Former Mercer partner sets up advisory firm
UK – Former Mercer worldwide partner Keith Faulkner has set up his own firm advising clients how to deal with pension advisers.
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Ex-PGGM ALM specialist joins central bank
NETHERLANDS – Mohamed Lechkar, who worked on asset liability modelling at the E60bn Dutch health care scheme PGGM, has joined the central bank’s pension supervisory division.
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Anglo Irish launches Isle of Man schemes
ISLE OF MAN – Anglo Irish Bank’s Isle of Man pension arm says it has launched “tax neutral” plans for international executives and multinational firms.
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Hewitt says 20 clients move to unconstrained
UK - Hewitt Associates says 20 of its clients have now allocated assets to so-called ‘unconstrained’ equity mandates – up from six in July 2004.
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Aasnæs replaces Åkerstedt as Storebrand MD
NORWAY – Storebrand Investments, the asset management arm of Norway’s Storebrand, has named Hans Aasnæs to replace managing director Allan Åkerstedt, who resigned last month.
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Threadneedle ‘unaffected’ by Amex spinoff
UK – Asset manager Threadneedle Investments says it won’t be affected by American Express’s plans to spin off its parent division.
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NIB Capital weighs options amid Fortis report
NETHERLANDS – NIB Capital, the merchant banking group owned by Dutch pension schemes ABP and PGGM, says it is still considering its options - as reports circulate that Fortis is interested in making a bid.
