Advisers – Page 160
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MLIM and J Sainsbury settle underperformance claim
UK- Merrill Lynch Investment Managers and the £2.4bn (e3.8bn) pension fund of retailer J Sainsbury have avoided going to court over alleged underperformance following a settlement of an undisclosed amount. The supermarket group had been pursuing a claim from Merrills following the landmark payment made to Unilever last year.
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Watson Wyatt names Eyre as multinational advisor
UK– Watson Wyatt has appointed Peter Eyre as a senior consultant advising multinational clients on the management of their worldwide employee benefits programmes.
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Towers to promote Russell's multi management
UK- Consultant Towers Perrin has announced an alliance with Frank Russell under which it will promote the latter’s multi management product for its UK pension fund clients.
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Watson Wyatt hires First Quadrant's Robert Brown
UK- Consultant Watson Wyatt has appointed Robert Brown from First Quadrant as a senior consultant in its investment practice.
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Morley beefs up UK institutional team
UK - Morley Fund Management has beefed up its UK institutional team with the appointment of Angela Campbell as a consultant sales director and Andrew Richmond as a client relationship manager.
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ABP & PGGM curb stock-lending to combat volatility
NETHERLANDS – Dutch pension funds ABP and PGGM, which have combined assets of almost €200bn, have announced joint action to suspend all stock-lending activity for short-selling in order to help combat market volatility.
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FIS names new expanded institutional team
UK – London-based asset management group, Friends Ivory & Sime (FIS), has announced its new enlarged institutional management team. Though there is no change to the company’s strategy, FIS hopes to penetrate the institutional insurance market as well as build on its institutional pension fund client base.
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Stamford hires Davies as fixed income specialist
UK – London-based independent consultancy firm, Stamford Associates, has appointed Nick Davies as a fixed income specialist to its research team.
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UK MP scheme to review investment advisor
UK – The £300m (€475m) Parliamentary Contributory pension scheme, the pension fund for UK members of parliament (MPs) is reviewing its investment advisor Hewitt, Bacon & Woodrow.
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Hewitt enters French investment consulting market
FRANCE- Consultants Hewitt Bacon & Woodrow are entering the French investment consulting market with the purchase of the investment advisor Finance Arbitrage for an undisclosed sum.
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Fortune AM beefs up marketing team
UK– London-based alternative asset management group, Fortune Asset Management, has appointed Peter Arkell and John McDonald as directors within its marketing team in London.
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EFM picks Marlborough for pensions administration
UK- Edinburgh Fund Managers (EFM) has appointed Marlborough Stirling, the software provider and consultant, to supply administration for its Edinburgh Portfolio Pension plans.
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UK to get yet another pensions review
UK- Just a fortnight after publication of the Pickering and Sandler reviews, the house of commons work and pensions committee has announced the launch of a wide-ranging inquiry into the future of saving for retirement in the UK.
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Number of DC schemes in Ireland surges
IRELAND- Defined contribution pension schemes remain in the ascendancy in Ireland according to the annual report from An Bord Pinsean, the pensions supervisor and regulator.
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Iceland's Kaupthing launches multi-employer Assep
LUXEMBOURG- The Swiss arm of Icelandic financial services provider Kaupthing Bank has received regulatory approval for Luxembourg’s first multi-employer Assep. The new defined contribution fund, KBridge, aims to attract expatriates working for large multinationals.
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JBI Associates joins forces with Deloitte & Touche
LUXEMBOURG- The cross-border life insurance and employee benefits consultancy team of Luxembourg consultants JBI Associates has joined Deloitte & Touche in a bid to capitalise on Europe’s growing cross border life and pensions industry.
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ECJ sets date for Danner Case ruling
EUROPE- The European Court of Justice has said it will pass judgement on the Danner case at the beginning of October. A verdict, expected on the 3rd of the month, will receive close scrutiny as many champions of pan European pensions believe it will, if successful, help pave the way ...
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Edinburgh Trust picks Fidelity for e1.7bn mandate
UK – The Edinburgh Investment Trust (EIT) has appointed London-based Fidelity Investments to manage its £1.1bn (€1.7bn) assets following an RFP it conducted earlier this year. Fidelity narrowly beat Scottish fund management group, Baillie Gifford.
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Mercers makes senior changes to retirement unit
UK- Mercer Human Resource Consulting has announced a number of senior management changes to its retirement practice.
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EU launches financial regulatory panel
EUROPE- Europe’s Committee of European Securities Regulators (CESR) has established a panel of consultants to help it work towards harmonising the EU’s financial regulatory system.
