All IPE articles in May 2002 (Online) – Page 3
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News
Davis appointed to review pensions regulator Opra
UK- Occupational pensions regulator Opra is to undergo a review of its functions, role and management. The department for work and pensions has appointed former CEO of Nationwide Building society Brian Davis to lead a performance review.
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Morley publishes SRI records of FTSE100 companies
UK- Morley Fund Management has published a controversial ranking of the largest 100 UK companies’ social and environmental credentials.
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Degaute replaces CEO Duncombe at Consignia fund
UK – Gerry Degaute has been promoted to chief executive of Consignia Pensions Trustees Ltd (CPTL), the management company responsible for the Consignia Pension Plan, formerly the post office pension scheme.
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Janus opens new operation in Italy
ITALY- US investment manager Janus is opening an office in Milan in an attempt to expand its Italian business. The Milan operation will be run by Alex Ricchebuono, Janus International’s regional director for southern Europe, who joined two years ago from American Express.
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Rentokil fund to undergo full ALM study
UK – The £600m (€691m) UK pension plan of Rentokil Initial, the hygiene and pest control company, is undergoing an actuarial review that is likely to lead to a full asset liability study later in the year.
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State Street appoints Deutsche's GSS head of sales
GERMANY- State Street Bank in Munich has scored a hit with the appointment of Stefan Gmuer, Deutsche Bank’s head of sales for its global securities services division.
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Europe continues its private equity investment
EUROPE – Institutional investors across Europe are continuing to invest in private equity, despite the severe downturns in its market in the last couple of years, according to the latest survey from private equity research specialists, AltAssets.
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UK fund and Mercer agree performance-related fees
UK – The £500m (€803m) Caterpillar pension fund has struck a new performance-related fee structure with its advisor Mercer Investment Consultant. The new arrangement covers both manager selection and strategic advice and is in response to the Myners Review recommendation that trustees should consider a formal assessment of their consultants.
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Pressure on Europe's pillar I worse than expected
GLOBAL – The industrialised nations are facing a much larger pensions timebomb than official statistics would suggest, claims the Washington-based Centre for Strategic and International Studies, whose latest report, ‘The Global Retirement Crisis’ says Continental Europe and Japan are particularly vulnerable.
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France's épargne market to rise 300% by 2017
FRANCE – The growth in the épargne salariale company savings scheme market in France could see assets under management grow from their current level of €60bn to €200bn in the next ten to fifteen years, says Pierre Schereck, retail director of company savings at Crédit Lyonnais Asset Management (CLAM) speaking ...
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SwissAir names five sub-fund managers for e600m
SWITZERLAND- SwissAir has announced the names of managers appointed to run e600m in five sub-funds belonging to the recently restructured pension scheme. The fund has appointed managers to five mandates, each valued at approximately e120m.
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SGAM poaches senior UK equity managers from UBS
UK- UBS Global Asset Management has suffered the departure of two senior investment managers to Société Générale Asset Management, the fund manager co-founded by Nicola Horlick.
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Multi manager SEI goes it alone in France
FRANCE- Multi manager SEI Investments has bought Crédit Commercial de France’s 50% share of their two-year-old joint venture, CCF-SEI Investments.
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Zurich completes Deutsche deal in Italy and Iberia
SWITZERLAND/GERMANY – Zurich Financial Services has closed on the acquisition of Deutsche Bank’s life insurance operations in Italy, Spain and Portugal as well as the sale of its asset management operations in Germany and Italy to Deutsche Bank.
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Barnett Waddingham announces new partners
UK- Independent actuarial partnership Barnett Waddingham has announced the appointment of two new partners and seven associates.
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Kirschenhofer is new Siemens asset management head
GERMANY- Klaus Kirschenhofer has joined Siemens’ corporate finance treasury in Munich after over seven years with Wacker-Chemie as a pensions investment manager and member of the board.
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T Rowe launches global equity fund in Europe
EUROPE – Baltimore-based global investment management firm, T. Rowe Price has launched the T. Rowe Price global equity fund which is now available to investors in Luxembourg, Germany, Denmark, Norway and Sweden.
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ABB appoints Goldmans to manage e110m hedge fund
SWITZERLAND – The ABB Investment Foundation, with over SFr 6bn (€4bn) under management for 36 Swiss-based pension funds, has appointed New-Jersey based Goldman Sachs Princeton LCC (GS) to manage its new SFr160m (€110m) hedge fund portfolio.
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Bank of Ireland AM moves into US by buying Iridian
IRELAND- Bank of Ireland Asset Management (BIAM) is entering the US market by purchasing a 61% share in the US investment manager Iridian Asset Management for an initial fee of $177m.
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Chirac tries to head off Medef clash
FRANCE – Newly re-elected president Jacques Chirac has told the French social affairs and employment minister to start urgent talks with unions and employers about reforms to the pensions system to avert possible social conflict, according to the Guardian newspaper.
