Advisers – Page 122
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Bank of New York targets European fund market
EUROPE – One of the Bank of New York’s top executives has said the bank is targeting the European investment funds market, saying there is “tremendous growth opportunity”.
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Mercer advises funds not to follow fashion
UK – Pension funds should not give in to what is ‘in vogue’ but concentrate instead on why they are investing, says a senior investment consultant at Mercer.
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UK funds have
UK - Pension funds in the UK are relying more on consultants but have little or no idea how to measure their advice, a new survey has found.
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FundPartners founder Mansour leaves
NETHERLANDS – Amin Mansour, founder of FundPartners, is leaving to join a private bank.
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Dutch funds
NETHERLANDS - Dutch pension funds are looking to increase their use of unconstrained active investment management, according to a survey by JP Morgan Fleming Asset Management.
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S&P hires FTSE’s Davies for Europe role
EUROPE - Standard & Poor's Index Services says it has hired FTSE Group’s head of relationship management in Europe, John Davies, to the role of director of market development for Europe.
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Jobs safe as State Street exits German KAG biz
GERMANY - State Street Global Advisors is to exit the German KAG investment trust business, citing regulatory changes, to focus on asset management.
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Kodak pension scheme gets property boost
UK – The one-billion-pound (1.46 billion-euro) Kodak Ltd. Pension Plan has seen the real-estate assets in its joint venture with property firm Halladale almost double in a year, according to company documents.
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IPE-QUEST: Danish funds tender at least E140m
DENMARK – Two Danish pension funds have tendered at least 70 million euros each in global equities via IPE-Quest.
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Alitalia cuts pensions amid crisis - union
ITALY - Alitalia, the troubled Italian airline, has almost halved its annual contribution to its staff pension schemes in a bid to “get away from the quicksand”, a union official says.
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Aegon denies Fortis pension outsourcing claim
NETHERLANDS – Aegon Nederland has denied a claim by Fortis Investments that it has opted for the latter’s products as part of a pensions outsourcing move.
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Hewitt and Watson hire from Aon and ISIS
UK – Hewitt Bacon & Woodrow and Watson Wyatt LLP have both made senior appointments in the UK, hiring from Aon Consulting and ISIS Asset Management respectively.
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Hermes, DeAM officials join UK accounting board
UK – Tony Good, the former head of investment research at Norwich Union Investment Management who is now with Hermes, has joined the UK’s accounting standard Board – along with Peter Westlake of Deutsche Asset Management.
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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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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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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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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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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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Hewitt develops new Irish pension fund index
IRELAND – Hewitt Associates’ Irish arm Hewitt & Becketts says it has developed a new index to evaluate the performance of managed pension funds in Ireland.
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IPE-QUEST: German fund tenders global equities
GERMANY- Swiss Consultant Kottmann Advisory is looking for a manager for an actively managed growth oriented large-cap global equity brief on behalf of a German pension fund.