Advisers – Page 179
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News
UK £20bn electric fund in huge reorganisation
UK – The £20bn (e33.1bn) industry-wide occupational retirement plan for 26 electricity companies, Electricity Supply Pension Scheme (ESPS), has reorganised some £2.1bn of its assets....
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PMI elects four new council members
UK – The Pensions Management Institute (PMI) Council has elected four new members, who will take up their positions at the group’s AGM on July 12...
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Watson Wyatt appoints new Spanish office director
Consultant Watson Wyatt in Spain has appointed Javier Fañanás as director of its Barcelona office....
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Euro is a threat to UK small caps, says industry
UK/EUROPE – The majority of UK fund managers, broker analysts, and smaller companies believe that small cap UK companies will not benefit from joining the European Monetary Union (EMU), according to a Reuters survey, conducted by London-based Tempest Consultants.
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Wassum mulls over move into Denmark
DENMARK/FINLAND – Swedish investment consultancy Wassum is planning a possible move into the Danish market with the opening of a Copenhagen office, according to Mats Langensjö, consultant and managing director at Wassum in Stockholm....
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US managers not waylaid by markets, says Mercer
US - Despite the current worldwide down turn of the stock markets, US investment managers are largely staying on course rather than changing their business strategy, according to a recent survey by consultants William M Mercer....
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Morley lands £1bn Marconi fund assets
UK – Communications group Marconi has appointed Morley Fund Management to run a £1bn (e1.63bn) bond portfolio on behalf of its UK pension plan.
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Finnish supervisory body names new MD
Jukka Rantala has been named managing director of the Finnish Central Pension Security Institute (ETK), the supervisory body of earnings-related pensions.... And all the week's major people moves...
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EMAC to take June 19 vote on pensions directive
EUROPE - The European Monetary Affairs Committee (EMAC) has announced that it is to vote on and adopt the Karas report on the directive for occupational pension provision on June 19....
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ISMA appoints new board at AGM
LUXEMBOURG – Members of the Zurich based International Securities Market Association (ISMA) have elected a new member and re-appointed four existing members to the board of the association, at its annual general meeting in Luxembourg today (June 7)....
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Mercer names O'Faherty as new Irish head
IRELAND - Paul O’Faherty has been appointed as chief executive of consultant William M. Mercer in Dublin, effective from July 1....
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Actuaries warn of Myners' one size fits all slant
UK – The actuarial profession has become the latest in a line of pensions industry bodies to express concern over recommendations in the Myners Report on institutional investment...
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SPC warns UK Treasury over damage to schemes
UK – The UK Society of Pension Consultants has warned that hasty adoption of the Myners Report on institutional investing could lead to the demise of occupational pension schemes...
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Mercer expands consultancy business east
CZECH REPUBLIC/TURKEY – Human resource consulting firm, William M. Mercer, has opened new offices in Prague and Istanbul, expanding its presence in central Europe and Turkey to four offices.
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Finnish consultancy restructures to become Silta
FINLAND – The Helsinki based actuarial consultancy and pension scheme administrator, Pension Service (EPS) has undergone a radical re-structuring and changed its name to Silta....
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Mellon chief quits to join AXA
Christopher Condron, president and chief operating officer of Pittsburgh based Mellon Financial Corporation, has resigned to join New York based AXA Financial.....and all this week's major people moves...
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Pension funds to make up 40% of hedge fund capital
EUROPE – Corporate pension funds are planning to boost investment in hedge funds and are likely to comprise some 40% of hedge fund source capital by the end of the year, second only to private investors, according to a survey published by Goldman Sachs....
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Cross-border joint ventures wane, says Cerulli
UK/US – The number of cross-border fund management joint ventures between US or UK fund managers and their counterparts worldwide dropped dramatically to 13 last year, compared to its peak of 26 in 1999, according to research and consultancy firm Cerulli Associates (CA)....
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SEI hosts UK trustee summer seminars
UK – Manager of managers firm, SEI Investments, will host a series of seminars around Britain addressing investment issues for pension funds in June and July. The seminars are aimed at trustees and investment committee members of pension funds...
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Thomas Murray appoints investor services director
UK - Aidan Dennis has been appointed as a director of investor services at London based information, ratings and research company Thomas Murray....
