More ESG news – Page 307
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CalPERS names ex-DeAM’s Read as CIO
GLOBAL – The California Public Employees' Retirement System has appointed former Deutsche Asset Management deputy chief investment officer Russell Read as CIO of the $208bn (€169bn) public pension scheme.
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UK university scheme’s Thamotheram joins AXA
UK – Raj Thamotheram, senior adviser for responsible investment at the Universities Superannuation Scheme, is to join AXA Investment Managers.
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ABP is considering opening an Asian office
NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s largest pension fund, is considering opening an office in Asia.
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AP2 takes issue with Electrolux management
SWEDEN – The SEK190.6bn (€20.5bn) Second Swedish National Pension Fund/AP2 is at odds with the management of Electrolux over the consumer products company’s plans to spin off outdoor power unit Husqvarna.
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Waygood to chair UK Social Investment Forum
UK – Steve Waygood, director for investor responsibility at Insight Investment, has been appointed chairman of the UK Social Investment Forum, which promotes SRI among UK investors.
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Legg Mason names Hirschmann as president
GLOBAL - James Hirschmann, chief executive of Legg Mason’s Western Asset Management arm, has been named president of Legg Mason itself.
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ECB axes State Street from pension fund
EUROPE – The European Central Bank has axed State Street as sole manager of its pension fund, replacing it with Irish Life.
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Fortis eyes asset management acquisitions
EUROPE - Fortis Investments will look at further "strategic acquisitions", says chief executive Richard Wohanka.
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JP Morgan's Paterson joins NAPF
UK - JP Morgan Asset Management's David Paterson is to take over as head of corporate governance at the National Association of Pension Funds from Geoff Lindey.
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UK mulls SRI for national pensions scheme
UK – The UK government is considering putting long-term socially responsible investing (SRI) at the heart of the proposed National Pensions Savings Scheme, an official has said.
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Dutch funds lack professionalism – Snijders
SWITZERLAND - While Dutch pension funds have seen an improvement in corporate governance in recent years, there is still too little professionalism, according to former Philips pension fund chief executive Dick Snijders.
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Society of Pension Consultants names Ashworth
UK – The Society of Pension Consultants has named Law Debenture’s Mark Ashworth to take over as president from Robert Birmingham.
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Environment Agency tenders €658m (updated)
UK – The roughly £1.3bn Environment Agency Pension Fund has put two mandates out to tender amounting to £450m (€658m). (Updated with new information)
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NAPF governance advisor Lindey to leave
UK - Geoff Lindey, strategic advisor on corporate governance at the National Association of Pension Funds, is to leave.
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Deutsche dropped from EAI top researcher list
GLOBAL – Deutsche Bank failed to make the cut in the latest Enhanced Analytics Initiative (EAI) list of top research providers on extra-financial issues (EFI) and intangibles between May 2005 and December 2005.
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DNB criticises ABP, PGGM
NETHERLANDS - The DNB, the Dutch regulator, has alleged that ABP and PGGM, the two largest Dutch pension funds, have disregarded the rules regarding the marketing of ‘levensloop’, or life course schemes.
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Eumedion raises Tabaksblatt pressure
NETHERLANDS – Investment platform Eumedion has written to the 75 largest Dutch companies urging them to improve their overall implementation of the Tabaksblatt corporate governance code.
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ABN Amro lifts investment fund fees
NETHERLANDS – ABN Amro will raise the fees charged on most of its investment funds on 1 April.
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KAS pockets €9m from exchange appreciations
NETHERLANDS – KAS Bank’s shareholdings in the London Stock Exchange, Euronext and Deutsche Börse appreciated more than €9m in the second half of 2005 to reach €25m at year end.
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Norwegian fund bemoans lack of business ethics
NORWAY – The Norwegian Government Pension Fund has complained of a “fundamental lack of ethics” in the business community in which it invests.
