Advisers – Page 125
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BAT taps SWIP for bonds
UK - The British American Tobacco UK Pension Fund has selected Scottish Widows Investment Partnership to manage a 165 million-pound (248.8 million-euro) mixed bond mandate.
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Mineworkers’ scheme seeks skilled trustee
UK – The 10.4 billion-pound (15.6 billion-euro) Mineworkers’ Pension Scheme is seeking to appoint a skilled trustee who will be able to debate investment strategy and assess consultant advice.
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MEPs say directive could save firms up to E40m
EUROPE – The European Parliament’s economic affairs committee says multinational companies could save up to 40 million euros by pooling pension assets under the European occupational pensions directive.
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DWP: consultants unchallenged post-Myners
UK – Trustees of occupational pension schemes in the UK are finding “barriers” to challenging their relationships with investment consultants, says a new government report on the uptake of the Myners Principles.
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Watson’s Yeo calls for non-political pensions
UK - The time has come to remove politics from pensions in the UK, said Watson Wyatt’s Stephen Yeo, former pensions policy adviser to the opposition Conservative Party.
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CSAM hires Pictet’s Hayes for pooled pensions
UK - Credit Suisse Asset Management has named Jonathan Hayes as director and head of pooled pensions business development.
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Population ageing could hit euro – Commission
EUROPE – The European Commission has warned that population ageing may be one of the “asymmetric shocks” that could hit the euro.
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Watson Wyatt to measure its own advice
UK – Consulting firm Watson Wyatt is working on measuring its own investment strategy advice, according to one of its senior consultants.
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New TIAA-CREF institutional arm to eye Europe
EUROPE – The new institutional asset management arm of US education retirement system TIAA-CREF will have a presence in Europe before too long, says one of its top executives.
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Watson Wyatt to buy KPMG Irish unit
EUROPE- Consulting firm Watson Wyatt is to buy the pension and actuarial group of KPMG in Ireland for an undisclosed sum.
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Hewitt sees take-up of unconstrained benchmarks
UK – Hewitt bacon & Woodrow says six of its pension fund clients have so far adopted the so-called ‘unconstrained benchmark’ approach – with more evaluating such a move.
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ChevronTexaco scheme taps BIAM for equities
NETHERLANDS- The Bank of Ireland Asset Management has been awarded a mandate from the US energy group ChevronTexaco to manage global equities for its 240 million-euro pension fund in the Netherlands.
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Spanish pension fund assets rise 14%
SPAIN - The assets managed by Spanish pension funds rose more than 14% in 2003, according to the economy ministry.
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Pensions grow to 41% of asset management - report
GLOBAL - Pension fund assets have risen to 41% of the asset management industry's client assets in Benelux, France, Germany and Italy, up from 41%.
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Mellon consulting arm hires Hymans’ George
UK - Mellon Financial Corp.’s Human Resources & Investor Solutions arm has named Marian George as a senior investment consultant.
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Italy’s Espero teachers’ fund tenders admin
ITALY - Fondo Scuola Espero, the new government-backed pension fund targeting 1.1 million teachers, has tendered for a manager to take on its administration and accountancy function.
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SEI names Harris as France asset mgmt head
FRANCE - SEI Investments has appointed Damian Harris as new head of asset management in France after Jean-Yves Foucat left the company to become an independent consultant.
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New 3i CEO gets extra cash to beat pension cap
UK – The new chief executive of venture capital firm 3i is to get an extra 200,000 pounds (299,600 euros) a year on top of his salary to enable him to beat the government’s controversial 1.5 million-pound lifetime pension cap.
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Railpen names Johnson as finance director
UK - The 14 billion-pound (20.8 billion-euro) Railways Pension Trustee Co. has appointed Frank Johnson as finance director following the retirement of Malcolm Gray.
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VB presents draft governance code
NETHERLANDS – The Dutch Association of Industry–wide Pension Funds, the VB, has presented its draft code for pension fund governance.
