All IPE articles in December 2004 (Online) – Page 7
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News
LCP unveils specialist consulting services
UK -- Lane Clark & Peacock (LCP) has launched two specialist practices, LCP Trustee Consulting and LCP Corporate Consulting, to offer advice to the trustees and corporate sponsors of pension schemes.
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Ericsson sets up E950m pension trust (Correct)
(Corrects typographical error in headline) SWEDEN – Telecoms equipment firm Telefonaktiebolaget LM Ericsson says its board of directors has decided to capitalize a Swedish pension trust with SEK8.5bn (E950m).
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Vodafone pensions chief joins Towers Perrin
UK - Paul Kelly, who heads up the £2.5bn (E3.6bn) pension fund at Vodafone, is leaving the telecommunications giant to join global human resources consultancy Towers Perrin.
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EU-backed SRI pension “toolkit” launched
EUROPE – The European Social Investment Forum has launched a European Commission-backed “toolkit” to help pension trustees integrate socially responsible investing into their investment policy.
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Mercer parent MMC sued over staff retirement
US – Consulting firm Mercer’s troubled parent company Marsh & McLennan Companies is facing a class action suit alleging staff have suffered in their retirement accounts.
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Mercer parent MMC downgraded by Fitch
US – Marsh McLennan Companies, the parent of pensions consulting firm Mercer, has had its senior debt rating downgraded by Fitch Ratings to ‘BBB-' – the latest fallout of an insurance bid-rigging probe.
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Morgan Stanley adds $22bn in institutional assets
GLOBAL – Morgan Stanley Investment Management gained $22bn (E16.5bn) in institutional assets in the fourth quarter – taking total institutional AUM to $222bn.
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Pioneer names new CIO amid institutional push
EUROPE - Pioneer Investments has named Marco Pirondini as global chief investment officer amid a push for the institutional market.
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BIAM names global equities director
EUROPE - Bank of Ireland Asset Management has named Morgan Stanley Investment Management’s Paul Boyne as a director with global equities responsibility.
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Pension demand to boost bonds – Merrill Lynch
EUROPE – Demand from pension funds will be one of the factors behind European bonds outperforming next year, according to Merrill Lynch.
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Carnegie exits Sweden pension consulting
SWEDEN - Nordic investment bank Carnegie’s Swedish pension consulting arm has been taken over by advisory firm Max Matthiessen.
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Let fund industry ease pensions crisis – McCreevy
EUROPE – European internal markets commissioner Charlie McCreevy wants the fund industry to be released to help the higher capital funding of pension schemes.
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Dutch pharmacists sack ING’s “abominable” NN
NETHERLANDS - The E800m pension fund for public pharmacists in the Netherlands has sacked its administrator Nationale Nederlanden and opted instead for common management firm AZL.
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Swiss vote means no gold for pensions
SWITZERLAND - The Swiss first pillar scheme AHV will receive nothing from the sale of 1,300 tons of the central bank’s gold reserves, the upper chamber of parliament has decided.
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Call for rich Dutch pensioners to pay more
NETHERLANDS – Plans to force well-off Dutch pensioners to contribute to the nation’s ballooning state pension costs have been criticised in Parliament.
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Italy could extend pension bonus - minister
ITALY – The 32.7% tax-free bonus for workers who postpone retirement could be extended beyond the deadline set by the pension reform, welfare minister Roberto Maroni has announced.
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JP Morgan Fleming institutional head White quits
UK - The head of international institutional business at JP Morgan Fleming Asset Management, Mark White, has left the company after 28 years to “pursue external opportunities”.
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Morley Fund Management unveils Polish hedge fund
POLAND - Morley Fund Management says it will launch its first hedge fund managed and invested in Poland.
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Dutch textile firm Blydenstein closes scheme
NETHERLANDS - Dutch textile company Blydenstein-Willink, currently better known under the brand name of Verison, is set to close its pension fund on December 31.
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Commission hardens stance on Swedish pension tax
SWEDEN – The European Commission has raised the stakes in its bid to get Sweden to end what it calls “discrimination” against foreign pension funds.
