Cecilia Valente
- Features
Living with uncertainty
The atmosphere surrounding Swedish pension funds has been positive over the past 12 months with good returns, especially from equities, boosting confidence. However, some see the impending implementation of the EU pensions directive as a cloud on the horizon. One fund that sees adjusting to the pensions directive as a ...
- News
JP Morgan AM names Switzerland head
SWITZERLAND - JP Morgan Asset Management has appointed BZ Bank’s chief executive, Roland Vogel, as country head for Switzerland.
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Greek pension strikers clash with police
GREECE – Greek bank workers have clashed with police during a strike about pensions, according to a union official.
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Pioneer taps Morley's Yiannakou for institutions
UK - Pioneer Investments has hired Morley Fund Management's Chris Yiannakou as consultant relations manager as it seeks to boost its institutional business.
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Skanska scheme taps Standard Life for bonds
UK – The £210m (€308m) pension fund of construction company Skanska UK has invested £80m to fund a pooled specialist UK bond portfolio with Standard Life Investments.
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Metal Box scheme names PIMCO as bond manager
UK – The £1.4bn (€2.05bn) Metal Box Pension Scheme has appointed PIMCO Europe to manage a £100m bond brief, funded via a relocation of resources within the bond portfolio.
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SAS outsources €40m UK scheme to SEI
UK - Airline company Scandinavian Airline Systems has outsourced the management of its £27m (€39.6m) UK pension fund to SEI Investments.
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Greece bank staff set to strike over pensions
GREECE – The Federation of Bank Employees (OTOE), has called for a strike next Tuesday in a bid to overturn a recent law which would change the structure of the sector’s supplementary pension system.
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UPM-Kymmene UK taps Hymans for consultancy
UK – The £84m (€122m) pension scheme of UPM-Kymmene UK has appointed Hymans Robertson as investment consultant.
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Roche hires ex-Aon Europe manager Kistemaker
GLOBAL – Aon Consulting’s former manager of international benefits for continental Europe, Ruud Kistemaker, has joined drugs firm Roche as global benefits manager.
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UK transport firm First seeks pensions director
UK – Transport company First, which runs train, bus and freight services, is looking for a director of pensions to help with the transition to final salary to career average.
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IPE-QUEST: Danish fund tenders €134m
DENMARK - A Danish pension fund has tendered an active global developed markets equities mandate worth up to DKK1bn (€134m) via IPE-Quest.
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Switzerland’s Publica could switch to DC by 2008
SWITZERLAND – The CHF31bn (€19.9bn) public employees’ pension fund Publica could switch to defined contribution in 2008 with parliament poised to discuss a law that would change the fund’s organisation.
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Germany, Spain, UK ‘have biggest deficits’
EUROPE - Germany, Spain and the UK have the biggest pension deficits in Europe, according to actuarial consultants Lane Clark & Peacock.
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Suez’s Electrabel bid follows Calpers’ interest
EUROPE – Today’s €11.2bn offer for Belgium’s Electrabel from Suez SA follows a Calpers-backed request for an enquiry into the firms’ ownership.
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S&P says pensions a factor in Italy downgrade
ITALY – Italy’s pension expenditure was a factor in rating agency Standard and Poor’s decision to downgrade the country’s outlook from stable to negative.
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Aon Consulting names Europe manager
EUROPE – Aon Consulting has appointed Theo Lutgendorff as manager of international benefits for continental Europe.
