All IPE articles in September 2004 (Online) – Page 4
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Bank of NY securities services exec Perna quits
GLOBAL – The Bank of New York says senior executive vice president Thomas Perna, who headed several of the bank’s securities servicing businesses, has resigned.
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Italy’s Espero tenders for depositary bank
ITALY - The government-backed pension fund for teachers and school employees, Fondo Scuola Espero has tendered for a depositary bank.
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Swiss social fund names CL exec as controller
SWITZERLAND- The Swiss Social Security Compensation Pension Fund AHV has hired Bettina Viedma of Credit Lyonnais Securities as its new investment controller.
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JP Morgan set to close FundsHub
EUROPE - JP Morgan FundsHub, the four-year-old fund aggregation platform, dealing and settlement service, is to close after failing to find an external partner, writes Brooke Donovan, Editor of European Fund Focus.
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KPMG's Menken joins Cardano
NETHERLANDS – Cardano Risk Management has appointed KPMG’s Roel Menken as commercial director and member of the board.
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Reuters’ ex-asset management chief quits
UK – Jane Platt, former president of asset management at information group Reuters, says she will leave the company at the end of October.
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Global finance chiefs reviewing hedge funds
GLOBAL – The central bankers, regulators and international bodies that comprise the Financial Stability Forum say they are scrutinizing the impact of hedge fund inflows on markets and institutions’ risk.
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List of this week’s UK pension fund disclosures
UK – The following are UK pension funds’ holdings in companies that have been disclosed this week under the Financial Services Authority’s stock market listing rules.
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NAPF chief: trustees may need “new legal form”
UK – Christine Farnish, the chief executive of the National Association of Pension Funds, has acknowledged that a “new legal form” of the trustee system may be needed – as part of “fresh thinking” needed in the industry.
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UK unions want compulsory employer contributions
UK – The head of the umbrella union body, the Trades Union Congress, has called for employers to be compelled to make pension contributions.
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PKA awards E81m Japanese brief to SSGA
DENMARK - The 9.7 billion-euro Danish administration company for occupational pension funds Pensionskassernes Administration has awarded State Street Global Advisors a 100 million-dollar (81.7 million-euro) active Japanese equity mandate.
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Austria considers civil service pension fund
AUSTRIA - The Austrian pension market could be boosted by up to 100,000 new pension scheme members with the cabinet poised to consider a draft to set up a pension fund for civil servants.
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Multinationals eye cross-border pensions - Mercer
EUROPE – Multinational companies are “moving strongly” towards more cross-border pensions, according to Mercer Investment Consulting.
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Fund aims and manager pay “misaligned” – Watson
GLOBAL – Roger Urwin, global head of investment consulting at Watson Wyatt, says the firm has found pension funds are worried about a “misalignment” between their objectives and asset managers’ remuneration.
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Molenaar to head Robeco Asset Management
NETHERLANDS – Robeco has named Niek Molenaar as head of Robeco Asset Management as part of a revamp that has left marketing head Hans van der Koogh ousted from the firm’s top level.
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Cabinet proposals of no value to low-paid - PGGM
NETHERLANDS – PGGM, the second largest Dutch pension scheme, says government proposals on tax relief for old-age pensions are “of no practical value” to its members on low and average pay.
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UK wants 50% of trustees to be member-nominated
UK – The UK’s new pensions minister has put forward proposals to ensure that half of pension scheme trustees are nominated by members, up from a third at present.
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Call for European agency for ageing
EUROPE - The European Economic and Social Committee is to debate a motion calling for a European Agency on Ageing.
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Finnish finances boosted by employment pensions
FINLAND – Finnish general government finances are set to be boosted by the employment pensions sector, the finance ministry says.
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NAPF sees “no evidence” of short-termism
UK – The head of the National Association of Pension Funds says there is “no evidence” that asset managers are fired for poor short-term performance.
