Sections

Hewitt signs first Cyprus client contract

CYPRUS - The €225m (£151m) Cyprus Hotel Employees Provident Fund has hired investment consultant Hewitt Associates, which has recently opened a branch on the island.

Via the appointment, the fund wants to start investing globally and adopt "internationally recognised investment principles and practices," a spokesperson said today.

Marinos Gialeli, the fund's general manager, commented: "Hewitt will help us to develop transparent control and decision-making procedures according to internationally accepted best-practice standards; we want to be transparent at all levels."

Hewitt recently announced it had opened a new office in Nicosia, headed by consultant Philippos Mannaris.

According to a Hewitt spokesman the new office is unrelated to the fund's appointment: "All though it is certainly not going to do our business any harm, the two incidents are unrelated," he said.

However, Mannaris commented that Hewitt has served Cyprus, first from London and then from Athens, since 20 years: "We have, for years now, a range of clients in Cyprus offering actuarial, benefits and investment consulting services including some of the largest DB schemes."

Elsewhere, Milan-based Hewitt consultant Guido Blasco announced his retirement. He will be replaced by Caludio Pinna.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2466

    Asset class: Multi-asset funds.
    Asset region: Global.
    Size: EUR 30m.
    Closing date: 2018-08-16.

  • QN-2467

    Asset class: Search for a broker (mainly ETFs).
    Asset region: Global.
    Size: 250m.
    Closing date: 2018-08-28.

  • DS-2468

    Closing date: 2018-08-24.

Begin Your Search Here