Advisers – Page 183
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News
French companies shift to long-term savings plans
FRANCE – Almost a third of French employers are currently considering the adoption of long-term employee savings plans under new regulation passed in February...
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One in six UK firms have no plan for stakeholder
UK – One in six British small and medium sized enterprises (SMEs) say they are unsure or have no intention of offering their staff access to a stakeholder pension scheme, despite the possibility of being fined up to £50,000 (e80,000)...
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VB predicts industry scheme flight to passive
NETHERLANDS – Dutch pension funds may be forced to adopt increasingly passive investment strategies or conversely take undue investment risks if the five-year period of performance testing for the Z-score is not extended....
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SEI gets £50m Man B&W Diesel injection
UK – Manager of managers firm SEI Investments has picked up its third UK mandate win with an appointment from the pension fund of MAN B&W Diesel to manage a potentially £50m (e81m) plus multi-manager portfolio....
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Allianz/Dresdner could create e1trn asset manager
GERMANY - The proposed merger between Allianz, Germany’s largest insurance company and Dresdner Bank, could create an investment management powerhouse with almost e1trn in assets under management, according to sources close to the deal....
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Tesco bucks trend to offer DB plan to part-timers
UK – Supermarket chain Tesco is to offer a defined benefit (DB) pension plan to its part-time and temporary staff from April 6...
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Boonstra appointed to ABN-AMRO supervisory board
NETHERLANDS – Cor Boonstra has been appointed to the supervisory board of Dutch financial services group ABN-AMRO, with effect from May 10, 2001.... And all the rest of this week's major people moves....
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JP Morgan recruits Mercer institutional specialist
UK – JP Morgan Investor Services has appointed former Mercer institutional specialist, Richard Dinham, as an investment consultant, in a bid to boost the group’s Europe, Middle East and Africa performance, analytics and consulting division...
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Watsons poaches Mercer employee benefits head
SPAIN – Consultant Watson Wyatt has poached Begoña Benito from rival William M. Mercer to head up its Spanish employee benefits practice....
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Skandia elects new members to the board
SWEDEN – Skandia Insurance has elected three new directors to the board at its annual general meeting (AGM), Oonagh McDonald, Clas Reuterskiöld and Günter Rexrodt...
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MBOs show little time for pension arrangements
Two-thirds of management buy-out (MBO) companies, say they consider the pension scheme aspect of the firms they buy-out is unimportant or not even mentioned in the purchase negotiations....
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AP7 appoints Nomura for SEK1.1bn Japan mandate
SWEDEN – The seventh national Swedish pension fund (AP7) – the default fund for non-choosers in Sweden’s PPM system - has selected Nomura Asset Management UK to manage a SEK1.1bn (e121m) active Japanese equity mandate...
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Guernsey funds business grows despite threats
GUERNSEY – Guernsey fund managers have recorded relatively healthy growth in hedge fund and fund of funds business for 2000, despite threats to the industry posed by outside bodies such as the OECD and the general increase in competition from other offshore jurisdictions...
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PPM system to receive half a million new entrants
SWEDEN – Almost half a million new entrants will join the SEK18-20bn (e2-2.2bn) state premium pension system (PPM) at the end of May, more than doubling the earlier estimate of 200,000 new members....
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80% of French and Germans say pensions are at risk
EUROPE – More than 80% of French and Germans think that in 10-15 years their domestic pensions system will not be able to pay full benefits in the light of future demographic imbalances, according to a study by three leading European academics…
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Northern snaps up Kinney as multi-manager director
UK – Michael Kinney, a former head of research at consultant Bacon & Woodrow, has been brought on board by Northern Trust to become director of its multi-manager affiliate, Northern Trust Global Advisors (NTGA)...
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Goldman appoints UK institutional business head
UK – Oliver Bolitho has been appointed as executive director responsible for UK institutional business development at Goldman Sachs Asset Management...
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Latvia adopts PPM type system for second pillar
LATVIA – The Latvian national second pillar pension plan will be launched on July 1, with a little help from the Swedes. Consultant KPMG’s Stockholm office is developing a PPM-type system to be included in the Latvian State Social Insurance Agency’s (SATUR) structure...
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Compass points to Russell for £500m brief
UK – The trustees of the newly created £500m (e794m) Compass Pension Scheme for catering group Compass, have appointed multi-manager Frank Russell Company as the sole investment manager to the scheme’s assets....
