All IPE articles in December 2005 (Online) – Page 5
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News
Decision due on unfunded pension accounting
GLOBAL – The way unfunded pension schemes are treated in national accounts is set to be resolved at a meeting in Frankfurt early next year.
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Northern Trust names Dutch asset servicing sales head
UK – Northern Trust has appointed Eric Pouwels as the new head of asset servicing business development for the Dutch institutional market.
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Fortis to switch to ‘levensloop’
NETHERLANDS – Fortis Bank will switch its full pre-pension contributions to the new ‘levensloop’, or life course, scheme from 1 January.
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Aegon institutional chief joins board
NETHERLANDS – Aegon management board member Jan Overmeer is due to retire next year – to be replaced by corporate and institutional client chief executive Erik van Houwelingen.
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Study finds pension funds are fickle
EUROPE – Pension funds are the most fickle of all European institutional investors when it comes to asset managers, according to a new study.
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Siemens hit by pension costs
GERMANY – Siemens AG has confirmed that its pension costs in its current business year may rise by 15% as a result of a reduction in its Rechnungszins – a figure used in calculating how pension obligations can be met.
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OECD global pension forum postponed
GLOBAL – A forum on global pensions organized by the OECD and the new International Organisation of Pension Supervisors has been postponed.
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Alan Brown effect as Schroders revamps scheme
UK – The hand of former State Street Global Advisors’ chief investment officer Alan Brown can be seen in his new firm Schroders’ decision to dramatically revamp the asset allocation of its £465m (€688m) defined benefit pension fund.
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UK actuarial standards board chair named
UK – Former Laurentian Financial Group chief executive Paul Seymour has been appointed chairman of the UK’s new actuarial standards board.
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Swiss official backs individual pension accounts
SWITZERLAND – The chief economist of the Swiss central bank has backed the idea of individual pension accounts – saying they could boost labour mobility and “work effort”.
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ATP named best European pension fund 2005
EUROPE – Denmark´s ATP has been named overall Best European Pension Fund in 2005 at the annual IPE Awards in Berlin. It was also named Best European Public Pension Fund as well as scooping the top award for Denmark and risk management.
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MEAG targets third-party growth
GERMANY – MEAG, the asset management arm of reinsurance giant Munich Re, plans to expand its third-party business by between 25-30% annually, according to Robert Helm, managing director at MEAG responsible for third-party business.
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Shier to chair Groupe Consultatif pensions group
EUROPE – Hewitt’s Philip Shier has taken over as chairman of the Groupe Consultatif Actuariel Européen’s Pensions Committee from Watson Wyatt’s Paul Thornton.
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ABP opts for ORTEC performance system
NETHERLANDS - Stichting Pensioenfonds ABP, the Dutch civil service scheme, has chosen Pearl, ORTEC's performance and risk management system.
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Levensloop for self-employed reconsidered
NETHERLANDS – Dutch Social Affairs minister Aart Jan de Geus is again to look at the possibilities of creating a ‘levensloop’, or life course, scheme for the self-employed.
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‘Fully funded’ may not mean that, says Maher
EUROPE - The European pensions directive’s requirement that IORPs be “fully funded” does not mean exactly that, Irish pensions regulator Anne Maher told the IPE Multipensions Conference in Amsterdam.
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PIMCO boosts its Swiss team
SWITZERLAND – Specialist fixed-income manager PIMCO has appointed Joachim Suter to the position of Swiss head of institutional business development.
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USS names JP Morgan’s Holmes to board
UK – The £25bn (€37bn) Universities Superannuation Scheme (USS) has appointed Virginia Holmes as co-opted director and investment committee chair.
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Metzler posts 28% rise in institutional assets
GERMANY – A mix of mandates for institutional funds and one for a so-called ‘master fund’ has enabled Metzler Asset Management to lift its institutional assets to above €20bn – an increase of 28% from the end of 2004.
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Mn's strategy head leaves for Unilever
NETHERLANDS – Mn Services’ director of strategy and development Martin Sanders will leave at the start of next year to become chief investment officer of Unilever pension fund.
