Advisers – Page 106
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Akzo Nobel may outsource €4bn pension assets
NETHERLANDS – Dutch healthcare, coatings and chemicals group Akzo Nobel is understood to be looking to outsource its pension responsibilities in a Philips-style deal.
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MLIM boosts European consultant team
EUROPE – Merrill Lynch Investment Managers has a new Zurich-based director in its global consultants group.
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France’s FRR calls managers to SRI meeting
FRANCE – The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, is planning to meet asset managers about socially responsible investing later this month.
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EnBW taps FondsConsult for €3.8bn revamp
GERMANY - Energy giant Energie Baden-Württemberg (EnBW) has hired Munich investment consultant FondsConsult to assist it with a sweeping revamp of €3.8bn in corporate pension assets.
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Railpen hires former Lane Clark consultant
UK - Railpen Investments, which manages £15bn (€22.6bn) of pension assets for the UK rail industry, has hired a former consultant from Lane Clark & Peacock as senior investment manager.
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Ireland sees EU directive as “major opportunity”
IRELAND – The Irish Association of Pension Funds has signalled that the directive on occupational pension funds is a “major opportunity” for Ireland.
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Mercer hires MLIM’s Williams for investment biz
UK – Mercer Investment Consulting says it has hired Cara Williams from Merrill Lynch Investment Managers in New York.
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Watson’s Swedish benefits head Wass leaves
SWEDEN – Elizabeth Wass, head of the benefits team at Watson Wyatt’s Stockholm office, has left the firm.
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Henderson loses out in North Yorkshire revamp
UK – The £880m (€1.31bn) North Yorkshire Pension Fund has dismissed Henderson Global Investors from a balanced mandate worth 22% of the fund.
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Europe the driver for State Street, says CEO
UK – State Street Corp. is seeing its most dramatic growth in Europe, says chairman and chief executive Ron Logue.
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Mercer loses out to Buck at L’Oréal
UK – Mercer Investment Consulting has lost a consulting brief with the £120m (€178.9m) UK defined benefit pension scheme of cosmetics company L’Oréal.
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Italian lawyers’ scheme backs green initiative
ITALY – The Italian legal pension scheme, Cassa Nazionale di Previdenza Forense, is among institutional backers of new €10m environmental initiative.
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IPE-QUEST: Dutch scheme tenders portable alpha
NETHERLANDS – A Dutch investment consultant has tendered a multi-asset class portable alpha mandate worth at least €15m via IPE-Quest.
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UK regulator names three executive directors
UK – The UK’s new Pensions Regulator has named three executive directors for strategy, business delivery and business support.
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France's FRR names private equity consultant
FRANCE - The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund has named a consultant to help it choose private equity managers.
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Dexia and RBC to combine custody arms
EUROPE – Dexia and Royal Bank of Canada are to combine their institutional investor services businesses in a joint venture that will have US$1.8trn (€1.47trn) in assets under custody.
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Lothian scheme awards £380m equities mandates
UK - The £2bn (€2.98bn) Lothian Pension scheme has appointed three new fund managers to run a total of £380m in global and Europe (ex-UK) equities.
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Dutch players still critical of FTK
NETHERLANDS – Further criticism about the new Financial Assessment Framework for pension funds emerged last week at an industry gathering.
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Swiss pensions official quits to join consultant
SWITZERLAND - Jürg Brechbühl, deputy director of the Swiss Federal Social Insurance Agency (BSV), is to leave his post in August to start a career in pension consulting.
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More members want to be trustees – law firm
UK – Pension scheme members are showing more interest in becoming trustees – despite regulation putting more responsibility on them, says a pensions lawyer at Hammonds.
