Advisers – Page 164
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US managers want more transparency from analysts
US – Almost half of US portfolio managers want to direct more of their business to brokers that don’t have a conflict of interest between their research and investment banking operations, according to Connecticut-based consulting firm, Greenwich Associates.
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Only 6.6% Italians sign up to new pension funds
ITALY – Only 6.6% of Italy’s 19.5 million workers have signed up to one of the country’s new complementary pension funds, according to Milan-based consultancy firm, IAMA Consulting, who says the figure falls way below the 20% forecast at the time of the Dini pensions reforms of 1995.
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Swiss fund seeks managers for two $20m mandates
SWITZERLAND: Two $20 million mandates for Index-Enhanced Global Debt and Active Swiss Equities have been announced by Zurich-based investment consultant Felix Kottmann of Kottmann Advisory for a Swiss pension fund client.
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Watson Wyatt to take on limited liability status
UK- Watson Wyatt is this week introducing a limited liability aspect to its partnership structure. At present partners’ possessions, including houses, are liable if the consultancy is sued but will be exempt following the introduction of limited liability.
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Fixage poaches Watson Wyatt's Deville
FRANCE – Richard Deville, director of employee benefits and investment consulting at Watson Wyatt in Paris, has left the company and joined rival Paris consultancy, Fixage, as head of its pensions and benefits practice.
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Essex fund seeks managers for e1.5bn
UK – The Essex County Council pension fund is looking for managers for £945m (€1,530m) of its £1.8bn assets, including a passive multi-asset equity and bond mandate worth some £620m and a predominantly UK fixed income mandate worth £140m.
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LPFA takes on independent investment advisor
UK- The £3bn London Pensions Fund Authority (LPFA) has appointed David Rough as an independent investment advisor in response to publication of the Myners report last year. Until recently, Rough was group director of investments at the Legal & General Group and he remains a consultant with L&G Investments. ...
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Punter Southall hires Forest-Jones from Aon
UK – Consulting actuaries firm, Punter Southall has appointed Graham Forest-Jones as group marketing director to its London office. The move follows the recent appointment of Graeme Muir as head of the group’s public sector pensions department.
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JP Morgan's Lowrie joins Newton IM
UK – London-based Newton Investment Management has appointed Audrey Lowrie as a fund manager with responsibility for UK institutional equities and global multi-asset portfolios.
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French warm to Épargne Salariale pensions
FRANCE – The Épargne Salariale market is fast becoming considered a principal source of retirement provision in France, according to the 2nd Baromètre Annuel de la Gestion de l’Épargne Salariale, the annual survey of occupational savings trends by JP Morgan Fleming, Hewitt and Interépargne Banque Populaire.
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Investec adds to London-based institutional team
UK - Investec Asset Management has won three new mandates worth £218m (€355m) and announced two new senior appointments to its London-based institutional marketing team.
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Reform to Italy's closed pensions hits trouble
ITALY - The pensions reform package to the closed pensions market in Italy has run into trouble and is unlikely to be passed, warns Roberto Casanova at Milan-based financial consultants IAMA Consulting. Were the package passed, IAMA predicts assets under management in the closed pension fund industry will grow ...
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Edinburgh fills CIO spot with MLIM's Richards
UK- Edinburgh fund Managers has finally filled its vacant post of chief investment officer with the appointment of Anne Richards from Merrill Lynch Investment Managers (MLIM).
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Hüppi to resign as Zurich Financial Chairman
SWITZERLAND – Rolf Hüppi is to resign as chairman of Zurich-based Zurich Financial Services, following the company’s decision earlier this year to replace him as chief executive officer as a consequence of public criticism that the chairman and CEO of the company should be separate offices.
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ALM study could open up PMI's investment strategy
NETHERLANDS – The giant €12.5bn Dutch metal workers fund, PMI, is undertaking an asset liability study that could open up its investment strategy to include alternatives such as commodities, currency overlay, below investment grade bonds and inflation-linked contracts.
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Frank Russell adds Barry to institutional team
UK – Investment services firm, Frank Russell Company, has appointed Mark Barry as director of client service within its institutional investment services team.
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Pensions regulator appoints Hobman as new CEO
UK- The Occupational Pensions Regulatory Authority (Opra) has appointed Tony Hobman as its new chief executive. He replaces Caroline Instance who has left to become chief executive of the Faculty and the Institute of Actuaries and secretary general of the Institute of Actuaries.
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Franklin Templeton beefs up FTI Institutional
UK- Franklin Templeton Investments is expanding FTI Institutional, its London-based marketing and client servicing division, with four new appointments. Peter Escott has been moved from manager of international marketing services to manager of UK Institutional Sales. Escott is tasked with building consultant and market awareness of Templeton’s global equity exempt ...
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Mercer IC prepares to re-open Stockholm office
UK/NORDIC- Mercer Investment Consulting has appointed Hanne Hother as a senior investment consultant for the Nordic region. Based in London, she will develop the investment consulting services in Sweden, Denmark, Norway and Finland.
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DC not necessarily cheaper than DB says Aon
UK – Switching from defined benefit to defined contribution can be a costly exercise if companies don’t weigh up the pros and cons properly, warns Paul McGlone, a principal and actuary at Aon Consulting in London. The news comes at a time when many companies are closing their DB schemes ...
