All IPE articles in November 2003 (Online) – Page 2
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News
Northern Trust names transition mgmt director
EUROPE – Northern Trust Global Investments (NTGI) in London has bolstered its position in transition management with the appointment of Kevin Hardy as European head.
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West Sussex taps State Street for custody
UK – The 749 million-pound (1.1 billion-euro) West Sussex Pension Fund has appointed State Street as custodian and re-appointed Cushman & Wakefield Healey & Baker as property manager.
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Aon buys Dutch actuary Consultas from ABN Amro
GLOBAL – Aon has completed its previously announced acquisition of Dutch actuarial consulting firm Consultas from ABN Amro for an undisclosed sum.
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Sweden’s Alecta names equities chief
SWEDEN – Occupational pension fund manager Alecta has hired Nordea’s Peter van Berlekom as its new head of equities.
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CSAM sees E3.5bn institutional outflow
GLOBAL – Credit Suisse Asset Management saw an outflow of four billion dollars (3.5 billion euros), mostly from institutional clients, in the third quarter of this year.
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Chile’s Piñera sees growing global PAYG crisis
GLOBAL – The architect of Chile’s pension reform, José Piñera, says demographic “megatrends” will accelerate the crisis in pay-as-you-go pension systems.
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BNP Paribas sees asset management rebound
FRANCE – BNP Paribas has reported third quarter net operating income rose 34.4% and amid a continued rebound for its asset management and services businesses.
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Swiss consultant tenders 3 mandates via IPE-Quest
SWITZERLAND – Swiss consultant Complementa Investment-Controlling has tendered three mandates worth up to 200 million dollars via IPE-Quest.
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Gartmore hires Merrill’s Beazley for alternatives
UK – Gartmore Investment Management has appointed Charles Beazley as head of institutional and alternative investments.
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Corrected: SocGen investment mgmt recovery
FRANCE – (Corrects to clarify that TCW has not closed, paragraph 6) Societe Generale has reported continued recovery for its investment management business for the third quarter, with net inflows of 1.9 billion euros.
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Irish group managed funds rise 4%
IRELAND – The average Irish group pension managed fund rose by around four percent in October, according to new data.
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Hewitt reshuffles top UK management
UK/IRELAND – Hewitt Bacon & Woodrow has reshuffled its senior management and appointed Roger Parkin to succeed Richard Moore as UK and Ireland managing director.
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Watson Wyatt & Co. cautious about revenues
GLOBAL – Consulting firm Watson Wyatt & Co. says it is cautious about the outlook for revenues in the 2004 fiscal year.
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Commission sets up occupational pension groups
EUROPE – The European Commission has set up occupational pensions regulatory and supervisory committees as part of a series of measures to help it respond to developments in the financial sector.
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Swissca says chief executive von Ah leaves
SWITZERLAND – Swissca Portfolio Management’s chief executive Roman von Ah has left with immediate effect, the company said in a statement.
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Hewitt's global consulting revenues rise 22%
GLOBAL - Hewitt Associates' net consulting revenues rose 22% in the 2003 fiscal year, driven by the acquisition of Bacon & Woodrow in 2002.
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Report sees Danish pension consolidation
DENMARK – Further consolidation of the Danish pensions sector - and a trend towards specialised managers – are two trends identified by Kirstein Finans in a new report.
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Swiss Life Asset Management sold
UK – Bond broker King & Shaxson has announced that it is to acquire Swiss Life Asset Management UK for an undisclosed sum.
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SWIP boosts UK equity fund team
UK – Scottish Widows Investment Partnership has expanded its UK equity fund management team with the addition of two senior members.
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FEFSI sees no evidence of market timing in Europe
EUROPE – The European investment fund industry trade body FEFSI says there is no evidence of US-style market timing problems in the European market.
