All IPE articles in October 2003 (Online) – Page 5
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AXA IM names Italy distribution head
ITALY – Marco Fusco has moved from ING Asset Management Italy to head up head of distribution at AXA Investment Managers Italia.
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UK pension commission to report in two years
UK – The head of the new commission charged with reviewing the UK’s pension system, says the group will make its final report in two years’ time.
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Watson’s Douse sees new era in pension products
EUROPE – The needs of pension funds have changed, which has resulted in a new era in pension fund products, says Watson Wyatt Worldwide partner Susan Douse.
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Consultants entered USS mandate competition
UK – Two investment consultants entered the USS long-term, said Nick Fitzpatrick, head of global investment consulting at Hewitt Associates, which helped organise the contest.
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AXA IM names UK investment chief
UK - AXA Investment Managers has hired Paul Griffiths from Investec Asset Management to be UK chief investment officer.
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Henderson wins USS long-term mandate contest
GLOBAL – The long-term mandate competition organised by UK university pension fund USS has been won by Henderson Global Investors, with an entry which proposed a “dynamic benchmark” approach.
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Experts in call to scrap PAYG pension systems
EUROPE - Arun Muralidhar today presented the ideas for a global pensions reform that he prepared with the late Nobel Prize winning economist Professor Franco Modigliani.
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RBC Global Services boosts European sales
EUROPE – RBC Global Services, the securities services arm of the Royal Bank of Canada, has made two European sales appointments.
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French pension system “to take time to develop”
FRANCE – Following its pension reform in August, France now has a third pillar and extended second pillar pensions system – though development will take time, says the head of the French pension fund association.
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CAPS takes over Risk Reporting venture
UK - Russell/Mellon CAPS has taken full ownership of Risk Reporting, its joint venture with Barra.
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Northern Trust’s net income rises 18%
US – Northern Trust’s third-quarter net income rose 18% to 113.8 million dollars (97.4 million euros), up from 96.4 million dollars in the 2002 quarter.
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Pensions directive faces regulatory hurdles - Pickering
EUROPE - The biggest obstacle in implementing the European pensions directive efficiently could be the member state regulators, says Alan Pickering, chairman of the European Federation for Retirement Provision.
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Italy set to see more foreign fund managers
ITALY - The role of foreign fund managers in the Italian pensions market will increase with transparency and regulatory pressure, says Massimo Greco, managing director and country head at J P Morgan Fleming Asset Management.
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US Fed sees global “demographic iceberg”
GLOBAL – The chairman of the Federal Reserve Bank of New York, Peter Peterson, says a “demographic iceberg” is set to hit the developed world.
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Swiss second-pillar revamp strains budget
SWIZERLAND - The cost of reorganising Switzerland’s second-pillar occupational pension schemes is threatening to break the country’s budgetary limits.
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Beiner returns to CSAM in London
EUROPE - Norbert Beiner has returned to Credit Suisse Asset Management to head its London-based European equities team.
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Italian pension fund market faces obstacles
ITALY - The Italian pension fund market has great growth potential, but there are still obstacles that need to be overcome, says Laurent Huck, chief executive officer of Invesco Italia.
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Italian pension reform “not enough” - Solbes
ITALY – The European Union’s commissioner for monetary affairs, Pedro Solbes, says Italian pension reform is a step in the right direction, but it’s not enough.
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Germany: PensMart finds communication vital
GERMANY - Communication is essential if the German occupational pensions market is to truly develop - this is the consensus of the delegates at the PensMart fifth annual European Pensions Market Forum 2003 in Frankfurt today.
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MLIM's third-quarter profits rise 15%
GLOBAL – Merrill Lynch Investment Managers’ pre-tax earnings in the third quarter were 77 million dollars, a 15% rise on the same period in 2002
