All IPE articles in September 2002 (Online) – Page 2
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ING outsources equity clearance to BoNY
GLOBAL- ING is to outsource its international cash equities clearance and settlements in London, New York, Hong Kong and Singapore to the Bank of New York in what is Europe’s largest broker-dealer outsourcing transaction.
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Cohen joins Putnam to develop European business
UK- Putnam Investments has appointed Stephen Cohen as director or European sales and business development. Cohen will lead Putnam’s European institutional and retail sales efforts and will be based in London. He will report to John Boneparth, head of international business.
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SWIP launches global SRI equity fund
UK/NORDICS- Scottish Widows Investment Partnership (SWIP) is launching a new global SRI equity fund in direct response to demand from the institutional investment community in Sweden.
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Commerz's merged AM division opens for business
GERMANY- Commerzbank’s merged asset management division has begun operating under the name of COMINVEST Asset Management.
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Pensions to headline at TUC conference
UK- The Trades Union Congress, the body representing more than 7 million UK workers, will headline its conference in Blackpool next week with the state of Britain’s pension industry. John Monks, general secretary of the TUC, is reported to have already warned employers that unions should strike in defence ...
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KLM fund appoints three managers for emerging debt
NETHERLANDS- Blue Sky group, manager of the KLM pension fund, has appointed Ashmore Investment Management, Bridgewater Associates and Pimco each to run a $85m mandate in emerging market debt.
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Multi manager IMS moves into Europe with S&P hire
UK- Multi-manager outfit, Investment Manager Selection (IMS), has marked its expansion into Europe with the appointment of David Furlong as its sales and client servicing director. Furlong becomes the latest in a line of people to join IMS from S&P Fund Research (now Standard & Poor’s Fund Services).
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Schroders names global institutional head
UK- Schroders has appointed Fidelity’s Richard Horlick as global head of institutional business. Horlick is moving back from Boston where he is president and chief executive of Fidelity Management and trust Company and head of Fidelity’s US institutional business.
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Mercers comes out against compulsory contributions
UK- Mercer Human Resource Consulting has come out against recent calls to make occupational pensions contributions compulsory claiming it is an inappropriate approach to solving the current problems in UK pension provision.
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AP6 and Skandia launch private equity company
SWEDEN- AP6, the Swedish national fund specialising in private equity, is launching a new company investing seed capital in high tech companies in the Nordic region.
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Merseyside fund tenders assets worth e3.2bn
UK- The £3bn Merseyside Pension Fund is looking for external managers to run several of its mandates totalling more than £2bn (e3.2bn). The departure of several key members of its investment team earlier this year is believed to be the catalyst, as fund management was previously carried out entirely in-house.
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Siemens appoints ABN to keep pension fund records
GERMANY- Siemens AG has appointed custodian ABN AMRO Mellon Funding to provide global master record keeping services for its major worldwide pensions plans. The German, Swiss, Dutch, Austrian, British, US, Canadian and Swedish pensions schemes have e15bn in assets.
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TUC comes under fire on compulsory contributions
UK- The Confederation of British Industry has called the Trades Union Congress’ (TUC) proposals for compulsory employer pension contributions “unrealistic”, in spite of a survey conducted by the CBI and Mercer which shows out of 940 firms, 24% have closed their final salary pension schemes and 12% are contemplating doing ...
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Hermes launches European small cap fund
UK- Hermes, the independent investment manager, is launching a new active European smaller companies fund. The fund is being seeded by British Telecom pension scheme with more than £170m, and is in addition to the £2.4bn existing European equity funds managed by Hermes.
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UBS hires Housden as client relationship manager
UK- UBS Global Asset Management has appointed Merrill Lynch’s Michael Housden as a managing director within the client portfolio management team, a role that makes him responsible for developing and maintaining client relationships in the UK and overseas.
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Siemens pensions advisor wins first US mandate
GERMANY/US- The pensions advisory team from Siemens Financial Services and its US partner Lattice Financial have been appointed by Canada’s Ontario public service employees pension fund for advice on its investment structure.
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European AM industry to see plummeting growth rate
EUROPE- Growth in revenues and assets under management is expected to slow rapidly in Europe over the coming four years according to a report out today by strategy consulting firm, Oliver, Wyman and Company, and UBS Warburg.
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Dutch group SFB in third party business push
NETHERLANDS- SFB Groep, the e20bn Dutch outfit that oversees the Dutch builders’ pension assets, is pushing ahead with marketing itself as a third party provider of asset management and pension fund administration. The group has a five year strategy over which it intends to market its services to third parties ...
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European investment fund market drops 6.7% in Q2
EUROPE- Combined assets of the Europe’s investment fund market fell 6.7% during the second quarter of this year, resulting in a 2.9% decline for the first half, according to FEFSI, the pan-European federation of investment managers associations and companies.
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Netherlands' Heijnis to merge with Hewitt
UK/NETHERLANDS – Outsourcing and consulting firm Hewitt Associates and its Dutch-based partner, Heijnis en Koelman, are to integrate further and to create a wholly-owned Hewitt operation called Hewitt Heijnis en Koelman.
