• Diageo pension scheme to plug £860m deficit with whisky

    Diageo pension scheme to plug £860m deficit with whisky


    UK/IRELAND – Drinks giant Diageo has announced its UK pension fund will tackle a £862m (€929m) deficit by investing in maturing whisky.

  • Diageo uses escrow funds to plug pensions deficit

    Diageo uses escrow funds to plug pensions deficit


    [16:00 CEST 28-08] UK – Diageo, the drinks giant, is transferring money set aside in an escrow account into its closed defined benefit pension fund, in a bid to improve the scheme’s deficit.

  • News

    Diageo transfers shares to cut E1.1bn deficit


    UK – Drinks firm Diageo has transferred four million shares in US cereal maker General Mills to its UK pension plan to help cut the scheme’s 750 million-pound (1.1 billion-euro) deficit.

  • News

    Diageo profits take E132m FRS17 hit


    UK – Drinks group Diageo says the FRS17 pension accounting standard has led to an 88 million-pound (132 million-euro) lower operating profit.

  • News

    Diageo takes E136m pensions charge


    UK – Drinks firm Diageo is to take a 95 million-pound (136.8 million euro) charge in relation to its 1.4 billion pound pension deficit.

  • News

    Diageo names new director of pensions


    UK – Drinks company Diageo has named Michael Glasgow to replace Steve Mingle as director of pensions.

  • Features

    Diageo keeps benefits flowing

    December 2002 (Magazine)

    Diageo’s £2.9bn defined benefit scheme comprises eight membership categories: three non-contributory sections (closed since 1988); two main contributory sections (Silver and Gold); and three executive sections (two contributory, one non-contributory). The scheme has a total of 70,700 members and is open to all permanent, temporary or casual employees of the ...

  • News

    Glasgow IM ousts MLIM at Diageo


    UK – UK drinks company Diageo says it has appointed Glasgow Investment Mangers to run a 280 million pound (438.6 million euro) all-equity mandate, taking over from Merrill Lynch Investment Managers, though MLIM still retains a European equities mandate.

  • News

    Belgacom & Diageo among IPE award winners


    EUROPEAN SPECIAL – Belgacom, the €3.5bn pension fund for the Belgian telecommunications group and the UK’s Diageo, the €5.2bn scheme of the global drinks firm, were heralded as the first ever European winners for Fund Structure and Administration at the inaugural IPE-Awards ceremony for pension fund excellence held in Brussels ...

  • News

    Drinks giant sacks Hewitt


    [15:58 CET 26-11] UK – The €3.5bn pension fund sponsored by UK drinks group Diageo, producer of brands such as Guinness and Baileys, has appointed Hymans Robertson as its new investment consultant.