All IPE articles in November 2003 (Online) – Page 7
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News
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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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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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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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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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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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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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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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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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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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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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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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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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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SEI joins with Commerzbank in German foray
GERMANY – SEI Investments has made its first move into Germany and has established an alliance with Commerzbank.
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ATP returns exceed 8% this year
DENMARK – ATP, the Danish labour market supplementary pension scheme, has reported returns of 8.4% for the first nine months of 2003.
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Flintshire tenders for 153 million euro mandates
UK - Flintshire County Council in Wales has put out to tender four mandates for the 450 million pound (682.8 million euro) Clwyd pension fund.
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Schroders poaches from BGI for UK business
UK – Schroders has appointed Miles O’Connor of Barclays Global Investors as head of sales and client servicing for UK pensions and corporates.
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Nordea sees surge in Finnish assets
NORDIC – Nordea’s assets under management increased 5% in the third quarter, predominantly driven by growing business in the Finnish market.
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Perenco appoints Mercer for new DB and DC plans
UK – Mercer Human Resource Consulting has been appointed by petroleum company, Perenco UK, to provide services for its new pension arrangements.
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Gartmore buys Govett in 21m euro deal
UK – Gartmore Investment Management is to acquire Govett Investments Limited and its one billion pounds (1,464 billion euros) of assets under management.
