All IPE articles in September 2005 (Online) – Page 2
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Nijssen quits as ING’s global head of pensions
GLOBAL – Jan Nijssen has quit as global head of pensions at Dutch-based banking group ING, to be replaced by Tom Kliphuis.
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Study queries pension fund-low yield link
GLOBAL – A new academic study has questioned the notion that pension funds shifting into bonds will inevitably lead to long-term low bond yields.
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Publica set to shrink in DC move
SWITZERLAND – The Swiss government has approved a law transforming Publica, the CHF30bn (€19.3bn) pension fund for public sector employees, from a defined benefit to defined contribution from the start of 2008.
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German consultant GSC ends tie with PPCmetrics
GERMANY – GSC, a German investment consultant, has ended its two-year joint venture with Swiss partner PPCmetrics after they failed to agree on strategy and services.
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SWIP renews outsourcing deal with State Street
EUROPE – Scottish Widows Investment Partnership today renewed its investment operations outsourcing agreement with State Street.
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AP4 follows AP2 in rejecting Skandia bid
SWEDEN – The SEK138bn (€14.7bn) Fjärde AP-fonden, the Fourth Swedish National Pension Fund or AP4, has followed its sister fund AP2 in rejecting Old Mutual’s bid for insurance firm Skandia.
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DNB wants new reporting standard ahead of FTK
NETHERLANDS – The Dutch Central Bank has called on the pensions industry to contribute towards a new reporting requirement – essential before the implementation of the Financial Assessment Framework or FTK on January 1 2007.
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UK: exodus at DeAM as Aberdeen deal closes
UK – Senior staff have already left or are set to leave Deutsche Bank’s former UK asset management operation this Friday following its acquisition by Aberdeen Asset Management.
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No pension experts on new EU monitoring group
EUROPE – There are no pensions experts on the re-formed European financial services monitoring group, despite the fact that it was expanded earlier this year to take occupational pensions into account.
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World Bank, OECD to study global pensions
EUROPE – The World Bank, the Organisation for Economic Cooperation and Development (OECD) and Dutch bank ING have launched a research partnership to study the world’s private pension system.
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ABN Amro names European consultant head
EUROPE - ABN Amro Asset Management has named Henderson's Deborah Harris to the new role of European head of consultant relationships.
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G-10 chiefs call for consistent pension funding
GLOBAL – Top finance officials of the Group of Ten leading industrial nations have called for more consistency in pension funding requirements.
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Germany’s €10bn VBL in PAYG legal blow
GERMANY – The Versorgungsanstalt des Bundes und Länder, a €10bn pension fund for public sector employees, has been dealt a legal blow in its efforts to switch to a capital-funded system from pay-as-you-go.
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USS puts €32bn of custody under review
UK – The £22bn (€32.4bn) Universities Superannuation Scheme is reviewing its entire custody arrangements with the help of consulting firm Thomas Murray.
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IPE-QUEST: Dutch schemes tender debt, equities
NETHERLANDS – Two Dutch pension funds have tendered separate mandates – for investment grade debt and Asia-Pacific equities – via IPE-Quest.
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AP2 says Skandia needs “peace and quiet”
SWEDEN – Andra AP-fonden, the Second Swedish National Pension/AP2, has waded into the bid for Skandia by Old Mutual, saying the Swedish insurer needs a period of “peace and quiet”.
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Oyens hires van Berckel for institutional role
NETHERLANDS – Former Commerzbank executive Gerard-Jan van Berckel has been appointed executive director for institutional clients at Dutch bank Oyens & Van Eeghen.
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European pension directive comes into force
EUROPE - Directive 2003/41/EC on the activities and supervision of institutions for occupational pension schemes - the pension directive - is now in force across the 25 member states of the European Union.
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DB schemes to become extinct soon – Mercer poll
GLOBAL – Defined benefit pension schemes will soon be as extinct as dinosaurs, according to an online vote on consulting firm Mercer’s web site.
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Barclays Global Investors ousts co-CEO Skirton
UK – Andrew Skirton, co-chief executive of Barclays Global Investors, has been ousted in a management shake-up.
