All IPE articles in June 2005 (Online) – Page 4
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Société Générale UK asset chief Percy steps down
UK - Keith Percy, chairman and chief executive of Société Générale's UK asset management arm, is standing down as CEO.
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South Yorkshire scheme loses team member
UK – The South Yorkshire Pensions Authority, which manages £2.7bn (€4bn) of assets, is looking for an investment manager following the departure of one of its six-strong investment team.
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Dutch opposition seeks shift from DB to DC
NETHERLANDS – Wouter Bos, parliamentary chairman of the opposition Labour Party, has called for a move from a strict defined benefit pension system to something more like defined contribution in the coming years.
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Trustees don’t understand investment (update)
UK – An academic study supported by the National Association of Pension Funds has found that trustees have no common understanding of the principles of investment theory and practice (Updates to include further comment).
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Agenda set for key EU meeting on directive
EUROPE - More details have emerged about a meeting set to take place next week at the European Parliament aimed at resolving some of the questions about the transposition of the European directive on occupational pension funds.
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Europe the driver for State Street, says CEO
UK – State Street Corp. is seeing its most dramatic growth in Europe, says chairman and chief executive Ron Logue.
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Italy’s TFR delayed for six months
ITALY – The Italian government has announced that the start of one of the key aspects of the pension reform, the so-called Tfr, will be postponed by six months.
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Ex-Robeco investment chief van Duijn retires
NETHERLANDS – Jaap van Duijn, the former chief investment officer at Robeco, the asset management arm of Dutch bank Rabobank, is to retire on October 1 aged 61.
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London scheme repurchases stock from 1897
UK – The London Pensions Fund Authority has spent more than £18m to buy back stock – some dating back to the end of the 19th Century – that it inherited from the now-defunct London County Council.
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Group wants boost to German private pensions
GERMANY – Finance industry lobby IFD has urged the government to create the conditions for a doubling of private pension saving by 2015.
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Henderson loses out in North Yorkshire revamp
UK – The £880m (€1.31bn) North Yorkshire Pension Fund has dismissed Henderson Global Investors from a balanced mandate worth 22% of the fund.
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Swiss raise age for second-pillar by three years
SWITZERLAND – The Swiss Federal Council has increased the minimum pension age for the second pillar but by three instead of five years following public criticism.
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Austria discussing arduous work for pensions
AUSTRIA – Talks between the government and the social partners over the long-standing issue of “physically demanding” work for pension purposes has failed to bring a solution.
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HVB-Unicredit to centralise asset management
EUROPE – The asset management activities of the merged UniCredit and HVB are set to be centralised in Milan under Dario Frigerio (deletes reference to Matteo Perruccio).
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ABP in foreign exchange settlement move
NETHERLANDS – Stichting Pensioenfonds ABP has joined a system aimed at reducing the risk involved in foreign exchange settlements called continuous linked settlement.
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Watson’s Swedish benefits head Wass leaves
SWEDEN – Elizabeth Wass, head of the benefits team at Watson Wyatt’s Stockholm office, has left the firm.
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Moral hazard and jobs are key - UK regulator
UK – The chairman of the UK’s pension regulator has outlined the body’s priorities in the wake of its involvement in the insolvency of insurance broker Heath Lambert.
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New Dutch pension law proceeds
NETHERLANDS – The Dutch government is still going through the process of implementing the new pensions law – despite scepticism about whether it will be implemented by the January 1 2006 deadline.
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Henderson names institutional business director
UK - Henderson Global Investors has promoted David Morley to director of institutional business.
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Belgian schemes boost UCITS investments
BELGIUM - Belgian pension schemes have raised their investments in UCITS to more than three-quarters of their total assets, according to a survey from the Belgian Association of Pension Institutions.
