Advisers – Page 126
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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.
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Swedish pension market in midst of restructure
SWEDEN - The crisis in the Swedish mutual life insurance market is leading to a shake-up in the pensions industry, Alex Inkapool writes.
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France’s FRR awards transition management brief
FRANCE – The French reserve fund, the Fonds de réserve pour les retraites, has awarded a transition management mandate to Goldman Sachs International for three years.
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Italy names new president of Mefop pension body
ITALY - The Association for the Development of pension funds, Mefop, whose major stake-holder is the finance ministry, has appointed a new president after Marcello Messori stepped down at the end of his term.
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CalPERS names exec to oversee managers, advisors
US – CalPERS has named Anne Stausboll as assistant executive officer, tasked with overseeing external manager and consultant searches and the coordination of internal investment policy.
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BIS sees “disruptive” cuts in pensions benefits
GLOBAL – The Bank for International Settlements has raised the spectre of potentially “disruptive” cuts in retirement benefits in the industrialised world.
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Danish pensioners mull E20.6bn pension appeal
DENMARK - A group of 11 Danish pensioners are considering an appeal to the supreme court after their claim for more than 20 billion euros in pension contributions was rejected last week.
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PGGM gives Aegon its largest-ever win with €1bn
NETHERLANDS – The €55bn PGGM pension fund has given Aegon The Netherlands a €1bn mandate for European government bonds, its largest-ever win and a sign of a change within the investment management style of large pension funds.
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Finatem picks up Hennings and deal flow from DZ
Germany- German mid-market private equity firm Finatem has appointed Robert Hennigs as partner and managing director of the firm’s second portfolio, which has recently has its first closing with commitments of €74m.
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Fortis swoops on Barings' small caps team
UK- Fortis Investments has hired a team of four European Small Caps investment managers from ING’s subsidiary Baring Asset Management, as it seeks expertise in the class that it says will “thrive”.
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Epic hires Hermes' White
UK – Epic Investment Consulting, a pension fund trustee advisory company, has made snapped up Adrian White from Hermes and John Siska for its panel and asked the regulator to crack down on unauthorised independent advisers.
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UK expected to change retirement age to 70 or never
UK – Compulsory retirement in the UK is expected to be shaken up with the age at which people retire inevitably increasing past 65, according to the government’s chief independent advisory body on pensions and Mercer Human Resources Consulting.
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'Excessively generous' pensions stalls Dutch PVK/DNB merger
NETHERLANDS – Parliament has delayed the proposed merger of Dutch central bank (DNB) and the pensions supervisory board (PVK) pension funds after its scrutiny uncovered “excessively generous” deals for the boards’ members as the regulator was cracking down on other funds’ costs.
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Italy's Previndai fund to restructure and offer mandates
ITALY- The €2bn pension fund of industrial managers, Fondo Pensione Previndai, is to create two portfolios run by five external equity and bond fund managers as an alternative to its insurance contracts.
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Priamo fund to grant three mandates
ITALY - The Italian pension fund for public transport workers, Fondo Pensione Priamo, has put out its first request for tender of three managers to run its entire portfolio.
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German premiums to rise in '05
GERMANY- The German Insurance Association confirmed said contribution rates for individual pension plans were likely to rise next year due to longer life expectancy and this could hit the number of savers.
