Advisers – Page 80
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Citigroup sets up pension solutions team
EUROPE - Citigroup has set up a European insurance and pensions structured solutions group in London under Wiltrud Heiss.
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German institutions ‘still hedge fund sceptics’
GERMANY – German institutional investors are still very reluctant to put money into hedge funds, despite the 2004 liberalisation of the market, says FERI Institutional Advisors.
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Essex pension fund goes unconstrained
UK – The £2.1bn (€3.1bn) Essex County Council Pension Fund is looking to appoint a specialist unconstrained global equity manager for a £140m mandate.
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Publica dragged into insider trading scandal
SWITZERLAND – Publica, one of Switzerland’s largest pension funds, is the latest scheme to become embroiled in the Swissfirst insider trading scandal.
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Hymans facing review at Cornwall
UK - Cornwall County Council has tendered actuarial services for its £980m (€1.4bn) pension fund.
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Lehman nabs Derbyshire for pension role
UK – Investment bank Lehman Brothers has confirmed it has hired Gareth Derbyshire from Merrill Lynch in a senior pensions role.
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Kingston hires HSBC for DB admin
UK – Telecoms firm Kingston Communications has appointed HSBC Actuaries and Consultants Ltd. to provide administration services to its two defined pension schemes covering 2,900 members.
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Germany’s Funk takes stake in consultant Böhm
GERMANY – Funk Gruppe, Germany’s biggest independent insurance broker, says it has acquired a majority stake in actuarial and pensions firm Böhm Consultants. Financial details were not disclosed.
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UK coal schemes retain JP Morgan for custody
UK – The two main UK coal industry pension schemes have retained JP Morgan Worldwide Securities Services to serve as global custodian for £18.5bn (€27.4bn) in assets following a review.
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NIBC plans hiring spree
NETHERLANDS – NIBC, the merchant bank that was formerly owned the two largest Dutch pension funds, has embarked on a hiring spree.
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UK coal scheme role for British Steel’s Debney
UK – LaSalle Investment Management has hired Richard Debney as European director and fund manager for the British Coal Schemes Pension Plan.
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Hewitt Associates swings to $202m loss
GLOBAL – Hewitt Associates, the pensions consulting and human resources firm that is replacing its chief executive, made a loss of more than $200m (€157m) in the third quarter.
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Hewitt Associates names new chairman and CEO
GLOBAL – Pensions consulting and human resources firm Hewitt Associates has named Bisys Group’s Russell Fradin to replace Dale Gifford as chairman and chief executive.
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Watson sees “robust” demand from pension clients
GLOBAL – Watson Wyatt Worldwide has reported “robust demand” for investment strategy and fund manager selection services amid an 18% increase in revenues at its investment consulting group.
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Mercer names ex-Watson’s Whalley as UK chief
UK – Mercer Human Resource Consulting has named former Watson Wyatt European managing partner Alan Whalley as its new UK chief executive.
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Mellon Analytical Solutions MD Brant departs
UK - Mick Brant, managing director of Mellon Analytical Solutions International, is leaving the company later this month.
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JLT, Northern Trust in manager-of-managers tie
UK – Northern Trust Global Investments is to select and monitor asset managers for Jardine Lloyd Thompson’s UK pension fund clients under a partnership deal announced today.
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German consultants Böhm and FUNK to merge
GERMANY – Some sort of merger between insurance broker FUNK and Böhm Consultants, an actuarial and pensions firm, is imminent and could be officially announced on Monday, IPE has learned.
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Mercer takes on 16 Scottish & Newcastle staff
UK – Mercer Human Resource Consulting has taken on 16 Scottish & Newcastle in-house pension staff from as part of an outsourcing contract with the brewing firm’s £2bn (€2.9bn) pension fund.
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Deutsche suggests FX can save pensions
GLOBAL – Deutsche Bank says currencies can be the saviour for unfunded pension plans.
