Advisers – Page 130
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ECB wants fiscal measure to account for pensions
EUROPE – The vice president of the European Central Bank, Lucas Papademos, says pensions spending should be included in the way the sustainability of public finances is measured.
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CERP critical of half-completed Italian reform
ITALY – A top pensions academic, CERP’s Elsa Fornero, has called Italy’s plans on pensions “only half a reform”.
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Call for EU to prove itself on pensions
ITALY - The Greek member of the European Union’s Social Protection Committee, Platon Tinios, says the EU must prove itself on pensions.
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Janus CEO Whiston resigns with $13.7m
GLOBAL – Mark Whiston has resigned as chief executive of Janus Capital and will be succeeded as CEO by Steve Scheid, who remains chairman.
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Loweth steps down as AXA IM UK sales head
UK - Nigel Loweth has stepped down as head of UK institutional sales at AXA Investment Managers to become director for global consultant relations at the firm.
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HSBC Actuaries wins National Counties brief
UK - HSBC Actuaries and Consultants Ltd., says it has been appointed as investment consultants to the National Counties Building Society Pension and Life Assurance Scheme - initially to review investment strategy.
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Nordic institutions say SRI pays – survey
NORDIC – A majority of institutional investors in Sweden, Norway and Denmark say socially responsible investments deliver the same yield as other investments, according to SRI firm GES.
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HooverCandy taps Aon for extra actuarial work
UK – Appliance manufacturer HooverCandy Group has appointed Aon Consulting to provide actuarial services to a further three of its pension schemes.
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Putnam trustees “pleased” with $110m settlement
US – The head of Putnam’s funds trustee board says he is “pleased” with Putnam Investments’ 110 million-dollar market timing settlement with the SEC and the state of Massachusetts.
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Consultant tenders E150m via IPE-Quest
EUROPE – A Zurich-based investment consultant has tendered an active global mid- and small-cap equities brief worth 150 euros via IPE-Quest.
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State Street Ireland hires Goldman’s Nangle
IRELAND – State Street has hired Goldman Sachs Asset Management’s Gavin Nangle to be head of business development in Ireland.
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Putnam says top lawyer Woolverton to retire
US – Putnam Investments says its top lawyer William Woolverton is to retire amid the market timing scandal and be replaced by State Street Research & Management Co.’s Frank McNamara.
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Watson Wyatt hires Citigroup’s Armstrong
UK – Watson Wyatt LLP has hired Citigroup Asset Management’s European marketing director Jane Armstrong as head of marketing for its investment practice, a new role.
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MSCI to buy risk software firm Barra for E675m
GLOBAL - Morgan Stanley is to buy risk management analytics firm Barra for 816.4 million dollars (675.3 million euros) in cash and integrate it with its majority-owned MSCI index business.
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Europe's CESR to look at asset management
EUROPE - The Committee of European Securities Regulators has appointed the chairman of Italy's Consob to head a group looking at investment management.
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Mercer names international consulting head
UK – Mercer Human Resource Consulting has named Mark Sullivan as head of its international consulting practice.
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Skandia case goes to Swedish supreme court
SWEDEN – The Skandia pensions taxation case has been submitted to the Swedish Supreme Administrative Court – with a decision expected within weeks.
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Watson Wyatt names Aon’s Witt as Munich manager
GERMANY - Watson Wyatt has appointed Jens Witt of Aon’s German consulting subsidiary to the new position of managing consultant for its Munich office as it expands in Germany.
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Danish funds sign agreement with SRI firm Eiris
DENMARK – Socially responsible investing consultant Ethical Investment Research Services has signed agreements with two Danish pension funds, Pensionskassernes Administration and Magistrenes Pensionskasse.
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IBM likely to use new Irish common fund
IRELAND - Computer giant IBM is likely to become one of the first multinational companies to use the common contractual fund (CCF), Ireland’s new tax transparent pooling vehicle, to pool its pension funds’ global equity assets.