All IPE articles in September 2004 (Online) – Page 3
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News
Schroders Benelux MD van Daalen leaves
BENELUX – Pieter van Daalen, managing director of Schroders Investment Management Benelux, has left the company.
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UK’s RBS hires consultants for European pensions
UK – The Royal Bank of Scotland has hired consultants from Mercer Investment Consulting and Milliman UK to boost its UK and European Insurance and Pensions Group.
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OPF: pre-pension plans to hit economy, markets
NETHERLANDS – The OPF, the Dutch Association of Company Pension Funds, has launched an attack on the government’s latest pre-pension proposals, saying they could hit the economy, destabilise markets and have an unclear social impact.
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Specialist management surges – Watson Wyatt
GLOBAL – New research from consulting firm Watson Wyatt had found that specialist asset managers have grown strongly - with UK firms seeing growth of up to 96%.
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Spain’s Zapatero signals confidence in PAYG
SPAIN - The Spanish prime minister, José Luis Zapatero, has announced an increase in state pension payments in a sign of his confidence in the public pay-as-you-go system.
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Austria unveils new harmonisation proposals
AUSTRIA - The governing coalition’s long-awaited draft on pension harmonisation envisages the application of the new rules to under 50-years old workers rather than 55 years olds as so far suggested.
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UK firms “trying to keep final salary schemes”
UK – Companies are making efforts to keep their final salary pension schemes open, according to a survey from Mercer Human Resource Consulting.
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Credit Agricole AM in E12bn asset boost
FRANCE – Assets under management at Credit Agricole‘s asset management business rose by 12 billion euros in the fist half – boosted by institutional and corporate inflows.
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Rapid asset ‘churn’ seen harming hedge industry
GLOBAL – The rapid switching of assets in and out of hedge funds could blow the industry away, says industry veteran Michael Goldman, one of the founders of fund of hedge fund firm Momentum, now part of Pioneer Investments.
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ABP equities chief Straatman gains fixed income
NETHERLANDS – ABP Investments, the asset management arm of Europe’s largest pension fund, has rotated the responsibilities of its board of directors – with equities chief Jan Straatman also gaining responsibility for fixed income.
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Aon enters Swedish pension consulting market
SWEDEN – Aon Consulting says it has entered the Swedish pension consulting market – aiming to become market leader by 2007.
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Pension fund management needs “paradigm shift”
GLOBAL – Keith Ambachtsheer, the head of KPA Advisory Services, has called for a “paradigm shift” in pension fund management.
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Asset management back-office deals set to grow
EUROPE – The market for outsourcing back office functions in the European asset management industry will reach 758 million dollars (622.5 million euros) by 2006, says Datamonitor.
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Researchers say DC more “individualistic”
EUROPE – Calling the shift to defined contribution pension schemes a move towards ‘individualisation’’, Dutch researchers have called for a ‘minimum level of collectiveness' in pension provision.
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News
KAS Bank says first half profit rises 7%
NETHERLANDS – KAS Bank says its first-half net profit rose seven percent to 8.8 million euros from 8.2 million euros a year ago, with the company forescasting a “healthy profit recovery”.
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LCP partner Ellis joins Mellon consulting arm
UK - Lane Clark & Peacock partner Ian Ellis has been hired by Mellon Financial Corporation’s Human Resources & Investor Solutions, HR&IS, as principal and senior consulting actuary.
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UK opposition slams Blair pension “shambles”
UK – Prime Minister Tony Blair has named Alan Johnson as pensions minister following the surprise resignation this week of Andrew Smith – with the opposition dubbing the affair a “shambles”.
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Ex-SPF CIO Groeneveld joins medical fund
NETHERLANDS - Ton Groeneveld, the former chief investment officer at Dutch railways scheme SPF Beheer has joined the 10.5 billion-euro medical scheme SBA on an interim basis as head of asset management.
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News
Swiss AHV investment head Kuttler joins Citigroup
SWITZERLAND - Philippe Kuttler, a top official of the Swiss Social Security Pension Fund AHV, has joined Citigroup Asset Management to lead business development in the Swiss market.
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Santander fires asset management CEO Picon
SPAIN - Grupo Santander has fired the head of its asset management business. Ismael Picon had been chief executive of Santander Asset Management for two years and he had worked for the bank since 1993.
