All IPE articles in September 2003 (Online) – Page 2
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Mercer's Tondreau joins Watson Wyatt
UK - Watson Wyatt has hired Jean-Francois Tondreau from Mercer Human Resource Consulting to be a senior international consultant in its benefits practice.
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Pensions directive comes into force
EUROPE – The European directive on pension funds has now officially come into force after being published in the EU’s Official Journal.
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CSAM names Europe CEO, global bond head
GLOBAL – Credit Suisse Asset Management has made two senior appointments with Peter Roemer becoming chief executive for Europe and Dennis Schaney becoming global head of fixed income.
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Big UK firms’ pension deficit falls 22% - DrKW
UK – The pension deficit of companies on the FTSE 100 index has fallen 22% to 49 billion pounds (70.7 billion euros), according to new research from Dresdner Kleinwort Wasserstein.
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Goldman Sachs AM revenues rise 20%
GLOBAL – Goldman Sachs’ asset management division saw its revenues rise by 20% in the third quarter to 481 million dollars (417.6 million euros), from 400 million dollars a year ago.
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UK insurer tenders mandate via IPE-Quest
UK – A UK-based insurance company is tendering a UK equity mandate worth up to 15 million pounds (21.6 million euros) via IPE-Quest.
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FondoPoste tenders for fund admin, deposit bank
ITALY – FondoPoste, the new pension fund for Italian postal workers, has put out to tender mandates for a deposit bank and a fund administrator.
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Italian unions may strike over pension reform
ITALY – Italy’s unions are threatening to strike over pension reform plans, but prime minister Berlusconi says there is no way of avoiding reform.
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State Street launches institutional index
GLOBAL - State Street Corp. has launched a monthly index that tracks global institutional investors' confidence.
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Pension funds must control consultants, Watson says
GLOBAL – Pension funds need to exert more control over agents acting on their behalf such as investment consultants and asset managers, says Watson Wyatt.
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UK pension annuity premiums could rise 10%
UK – Individual pension annuity premiums could rise by up to 10.6% a year over the next 10 years, according to the Association of British Insurers.
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Dutch resist pension change – central bank
NETHERLANDS – The Dutch central bank says the public is finding it hard to accept change to the pension system – and that is little awareness of future pension provision.
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Carnegie and Russell in multi-manager tie
SWEDEN – Nordic investment bank Carnegie has signed an agreement with Russell to provide manager of manager funds to its private banking clients.
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More than 30 schemes apply for Isle of Man OK
ISLE OF MAN – More than 30 schemes have applied for authorisation under the Isle of Man’s new international retirement benefits schemes legislation, says the Insurance and Pensions Authority (IPA).
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Tyne & Wear tenders for investment consultant
UK – The two billion-pound (2.9 billion euro) Tyne and Wear pension fund has put out to tender a mandate for an investment consultant.
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Scottish Widows’ CEO Kane to leave
UK – Scottish Widows’ chief executive Mike Ross is to be replaced next week by Archie Kane.
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Euro boost for European pooled property funds
EUROPE – The euro has had a positive impact on cross-border investing in European pooled property funds, according to IPD and ABN Amro.
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UK’s USS opts for HSBC over State Street’s WM
UK – The 18 billion-pound (25.9 billion-euro) Universities Superannuation Scheme has chosen HSBC Global Fund Services to provide investment accounting and performance measurement.
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Nationwide fund drops Schroders as main manager
UK – Schroder Investment Management has been dropped as the main fund manager for the 850 million-pound (1.22 billion-euro) pension fund of Nationwide Building Society as a result of poor performance.
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PGGM submits broad recovery plan to the regulator
NETHERLANDS – The Netherlands’ second largest pension scheme, the 45 billion-euro healthcare scheme PGGM, has submitted its recovery plan to the Dutch pensions and insurance watchdog, PVK.
