All IPE articles in December 2003 (Online) – Page 6
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Consultant Day event warned about conflicts
The pensions consultants in the US and internationally are under considerable financial pressures, Brian Meath of Lazard Asset Management in New York told the Consultant Day gathering in Frankfurt yesterday.
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UK business spending seen hit by pensions
UK – The influential economic forecasting group the ITEM Club says it is still concerned that business expenditure in the UK is being hindered by pension fund deficits.
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New EU study sees higher taxes to combat ageing
EUROPE – A new academic study published by the European Commission envisages higher taxes as a solution to the problem of population ageing.
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EU raps four countries over pension taxation
EUROPE - The European Commission wants Belgium, Portugal, Spain and France to end tax discrimination against foreign pension funds – saying it is “incompatible” with the EC Treaty.
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Irish occupational pensions at “watershed”
IRELAND – Occupational pension provision in Ireland is at a “watershed” due to regulatory changes, according to an academic writing in an Irish banking quarterly.
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European Commission backs EDF pension plan
FRANCE – The European Commission has approved the French government’s plan to reform the pension scheme for the electricity and gas sector.
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CalPERS sues New York Stock Exchange
US – The largest US pension fund, CalPERS, is suing the New York Stock Exchange and seven trading firms over a fraud it says has “generated untold shareholder losses”.
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UK projects 12% rise in pensioners
UK – According to government projections, the number of pensioners is set to rise by almost 12% to 12.2 million in the next 10 years.
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Dutch fund tenders E190m debt via IPE-Quest
NETHERLANDS – A Dutch pension fund has tendered two debt mandates worth a total 190 million euros via IPE-Quest.
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Dutch union critical of widows’ pensions
NETHERLANDS – Dutch labour union federation the CNV says the pensions of widows and widowers are under threat.
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UK warned over deficit as population ages
UK – The UK has been warned by the IMF to cut its deficit “to provide more comfort” against liabilities such as population ageing.
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Alfred Berg buys Norwegian asset manager
NORWAY – ABN Amro’s Alfred Berg has bought the asset management activities of Norwegian banking alliance SpareBank in a deal worth around 6.7 million euros.
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Allianz pension arm gets DB transfer approval
GERMANY – Allianz Group’s pension arm has won approval from financial regulator Bafin to take over existing corporate defined benefit pension plans.
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Towers Perrin hires two from Watson Wyatt
UK – Towers Perrin has hired two consultants from Watson Wyatt, Huck Ch'ng and David Finn.
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Santander boosts pension aim with VidaCaixa deal
SPAIN – Grupo Santander says the sale of its insurance portfolio to life insurer VidaCaixa leaves it free to focus on pensions.
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Russell to buy private equity firm Pantheon
GLOBAL – Russell Investment Group is to buy global private equity fund-of-funds specialist Pantheon for an undisclosed sum, with Russell hailing the deal as an "ideal strategic fit".
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SWIP hires Barings’ Ortving as Nordic head
NORDIC – Scottish Widows Investment Partnership says it has hired Martin Ortving from Baring Asset Management to head its Nordic business.
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Janus names ex-Schwab chief as chairman
US – Janus Capital, mired in the US improper-trading scandal, has named former Charles Schwab Corp. vice chairman Steve Scheid as non-executive chairman.
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Goldman Q4 asset management revenues rise
US – Goldman Sachs says its revenues from asset management rose 33% in the fourth quarter.
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Schock to replace Bourven at State Street Banque
FRANCE - Monique Bourven is to retire as head of State Street Banque and be replaced by François Schock.
