Advisers – Page 127
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Schootse turns its back on new external business
NETHERLANDS – Schootse Poort, the manager of Koninklijke Philips Electronics’ 12.5 billion euros in pension assets, has said it will not acquire more third-party clients following a strategic review.
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UK: Aon names development, commercial heads
UK - Aon Consulting has named Martin Good and Paul Crocker as business development and commercial directors.
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Aon says UK must raise pension age to 70
UK - Aon Consulting says the UK government will need to raise the state pension age to 70 to maintain state benefits.
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Jobs go as HP outsources Dutch scheme to Hewitt
NETHERLANDS - Hewitt Associates’ Dutch arm is to administer the 450 million-euro Hewlett-Packard Netherlands pension fund, the fund’s administrator said.
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Danish second-pillar taps investment funds
DENMARK – FEFSI says Danish second-pillar pension assets held in investment funds have almost doubled in the first quarter due to the conversion of the Special Savings Pension Scheme.
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Dutch MPs question PVK-DNB merger
NETHERLANDS - Questions have been asked in the Dutch parliament about the merger between the PVK pension regulator and the central bank - though officials say the merger will go ahead.
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Nestlé pension fund’s Gillbanks joins Saudi bank
SWITZERLAND – John Gillbanks, fund manager at the 6.2 billion Swiss franc (3.8 billion-euro) Nestlé Fonds de Pension, has left to join a Saudi Arabian bank.
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Clearstream investment fund launch put back
EUROPE – Deutsche Börse’s Clearstream custody and settlement arm has put back the launch of its enhanced Vestima service for investment funds.
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Cerulli says asset managers hiring again
GLOBAL – Cerulli Associates says asset managers are starting to recruit again – though they are being “more strategic” in their choice of staff.
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AP3 names European mid- and small-cap managers
SWEDEN – The 140 billion-crown (15 billion-euro) Tredje AP-fonden Swedish buffer fund has appointed five managers to run mid- and small-cap European equities.
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PGGM awards E1bn tactical brief to Goldman Sachs
NETHERLANDS - Goldman Sachs Asset Management has been awarded a global tactical asset allocation mandate from PGGM worth a notional one billion euros.
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Germany: BaFIN to rule on hedge fund investments
GERMANY- Financial regulator BaFIN says it will issue its rules on how pension funds and insurance companies can invest in hedge funds later this year.
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Covip approves first Italian public scheme for 1.1 million teachers
ITALY- Pension regulator Covip, Commissione di Vigilanza sui Fondi Pensione has given the go-ahead to the first government-backed pension scheme aimed at public employees, Fondo Scuola Espero.
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CSFB names European transition management head
EUROPE – Credit Suisse First Boston says it has hired Graham Dixon from crossing network E-Crossnet as head of European transition management.
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Luxembourg and Ireland have “edge” on pensions pooling - consultant
EUROPE - Luxemburg and Ireland have “an edge” with double taxation treaties, the legislation for pensions investment pooling vehicles, according to a leading pension consultant.
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Mellon Global names head of consultant relations
UK - Mellon Global Investments has named William Battersby as head of consultant relations, reporting to Pauline Stuart, head of institutional business in Europe.
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UK’s Durham appoints actuary, seeks advisers
UK - The 850 million-pound (1.23 billion-euros) Durham County Council Pension Fund has appointed Hewitt Bacon & Woodrow as scheme actuary and says it is looking for advisers.
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FundPartners consultant joins State Street arm
EUROPE - State Street's Princeton Financial Systems says it has hired a consultant from Netherlands-based pensions consulting firm FundPartners.
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Firms back European pension directive – Hewitt
EUROPE – Multinational companies in Europe “would welcome” the opportunity to have a single fund to finance their European Union-based pension obligations, according to a new survey by Hewitt Associates.
