All IPE articles in September 2004 (Online) – Page 6
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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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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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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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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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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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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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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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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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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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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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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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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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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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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.
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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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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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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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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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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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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.
