Advisers – Page 82
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News
IASB sets up pensions accounting review
GLOBAL - The International Accounting Standards Board has added post-retirement benefits, including pensions, to its latest research agenda.
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Russell hires Mercer Global Investments chief
GLOBAL - Russell Investment Group has hired Mercer Global Investment’s US president Barry McInerney as director of client service.
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The Hague taps Aegon for levensloop scheme
NETHERLANDS - The city council of The Hague has chosen insurer Aegon to provide a life course (levensloop) pension arrangement for all of its 8,000 employees, Aegon announced.
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Forbo scheme names MN as investment manager
NETHERLANDS - The company pension fund of linoleum producer Forbo has selected MN Services as its new investment manager, MN has announced.
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Asset management M&A hits record – report
GLOBAL – The sale of asset management businesses worldwide in the first half of 2006 hit the highest level ever, according to a new report.
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Gist-Brocades, DSM-Chemie funds in €5bn merger
NETHERLANDS - The Gist-Brocades and DSM-Chemie pension funds are to merge, creating a fund worth more than €5bn.
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Irish reserve fund posts negative Q2 returns
IRELAND – The €16.3bn National Pensions Reserve had a negative investment return of almost 4% in the second quarter of this year – although it was up in the first six months.
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Heissmann tapped for Austria DC tender
AUSTRIA – A legal counsel group tied to Austria’s justice ministry has asked pension consultant Buck Heissmann to find a provider of a defined contribution scheme for its 370 employees.
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Hewitt’s Nilsson joins Sweden’s KP Pension
STOCKHOLM – The SEK50bn (€5.4bn) Swedish co-operative pension foundation KP Pension & Försäkring says it has hired Hewitt Associates consultant Björn Nilsson as its new head of marketing.
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West Midlands tenders currency mandates
UK – The £6.6bn (€9.7bn) West Midlands Metropolitan Authorities Pension Fund is tendering two new briefs – one currency alpha mandate and an active specialist currency overlay mandate.
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FERI links with Compendeon as MD Leser quits
EUROPE – German consulting firm FERI Institutional Advisors has signed a cooperation deal with Compendeon of the Netherlands - while at the same time it has emerged that FERI managing director Hartmut Leser to leave.
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Continental the latest to set up pension CTA
GERMANY – Auto component maker Continental has become the latest member of the Dax-30 equity index to create an external fund known contractual trust arrangement (CTA) to finance pension liabilities.
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MLIM slows BlackRock momentum amid outflows
GLOBAL – BlackRock says its planned merger with Merrill Lynch Investment Managers has resulted in a “temporary” slowdown in its momentum.
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Maher steps down as Pensions Board CEO
IRELAND – Anne Maher is due to step down resign as chief executive of Irish pensions regulator the Pensions Board after 10 years in the role.
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New commercial director at MN Services
NETHERLANDS - Bernard van de Ven has taken over from Pieter Kiveron as commercial director at Dutch pension servicing company MN Services.
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HSBC's actuarial arm nabs Hyman's Justham
UK - HSBC Actuaries and Consultants has hired Hymans Robertson's Gordon Justham as the new head of its Birmingham office.
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Dutch insurance premiums dwarf pension premiums
NETHERLANDS - Premiums paid to Dutch insurance companies were three times as high as premiums paid to Dutch pension funds at the beginning of 2006 (Corrects figures in 2nd paragraph).
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Hymans axed by Cape pension trustees
UK – The pension trustees of global industrial services company Cape PLC have axed Hymans Robertson as scheme consultant, and appointed Buck Consultants instead.
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FRR launches search for consultant
FRANCE - The Fonds de Réserve pour les Retraites' - the €28.1bn French Pensions Reserve Fund – plans to hire an external provider of performance measurement services. .
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New rules for companies’ collective DC schemes
NETHERLANDS - Accountants and actuaries will issue new criteria for companies that have changed their pension funds into collective defined contribution schemes.
