Advisers – Page 92
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News
Lehman nabs Rubenstein for new pensions group
UK – Lehman Brothers has hired Alan Rubenstein, head of Morgan Stanley’s European pensions group, to launch a new pensions group.
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UK nuclear scheme tenders investment consulting
UK – The Nuclear Decommissioning Authority, the body charged with cleaning up the UK’s atomic energy industry, has tendered for investment consulting services for the proposed Nuclear Decommissioning Industry-wide Pension Schemes (or IWS).
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AP3 considering portable alpha
SWEDEN – Tredje AP-fonden, the roughly €20bn Third National Pension Fund/AP3, is currently brainstorming about portable alpha – although there is no guarantee it will be implemented.
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Up to 3,000 jobs go in Achmea-Interpolis merger
NETHERLANDS – Between 2,500 and 3,000 jobs are to go in the next three years as Dutch pension management firms Achmea and Interpolis merge.
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UK consultants see limited conflict of interest
UK – The Society of Pension Consultants, responding to comments from the financial watchdog, says there is only “limited” scope for potential conflicts of interest in advising pension trustees and asset managers.
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Ex-Aon Belgium principals start new firm
BELGIUM – Anne Claes, the former co-head of Aon Consulting in Belgium, has joined some of her former colleagues at a new consulting venture called EIS.
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Thomas Cook axes Watson for Aon
UK – Watson Wyatt Investment Consulting has been axed as investment adviser to the roughly £400m (€586m) Thomas Cook Pension Plan in the UK – the trustees have appointed Aon Consulting following a competitive tendering process.
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Medische Specialisten sets up new organisation
NETHERLANDS - Stichting Pensioenfonds Medische Specialisten, the Dutch medical specialists' pension fund, has set up a professional pension organisation for medical specialists called Beroepsvereniging Medische Specialisten.
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Changeover at F&C in Ireland
IRELAND - Ruth O'Briain, managing director of F&C Asset Management in Ireland, will shortly retire from the industry to be be succeeded by Mercer senior investment consultant and former F&C Irish business development head Grainne Alexander.
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US watchdog putting together consultant probe
GLOBAL – The Government Accountability Office, the US Congress’s investigative arm, is putting together a plan on how to look at potential conflicts of interest in the pension consulting industry.
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Schroders axed over performance at Cheshire
UK – Schroders has been axed from a £500m (€731m) mandate by the £2bn Cheshire County Council pension fund following poor performance.
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Swedish savers put €2.5bn into Kapitalpension
SWEDEN – Swedish savers placed almost SEK23bn (€2.5bn) in the new savings product – the Kapitalpension - during 2005, according to figures from the Swedish Insurance Federation, Försäkringsförbundet.
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UK govt actuary finance chief leaves
UK – Kim Clegg, finance director at the Government Actuary’s Department, is to leave her post to join another government department.
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UK says gilt auction gets “robust” result
UK – The Debt Management Office says its auction of long-dated government bonds has met a “robust result”.
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Watson Wyatt names Urwin to board
GLOBAL - Watson Wyatt Worldwide has named Roger Urwin, its global practice director for investment consulting, to its board of directors.
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Society of Pension Consultants names Ashworth
UK – The Society of Pension Consultants has named Law Debenture’s Mark Ashworth to take over as president from Robert Birmingham.
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Watson advised on 17 UK swaps deals in 2005
UK – Watson Wyatt Investment Consulting says it advised on 17 swap transactions for UK clients last year.
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Ex-Mercer’s Donaldson joins PSolve
UK – PSolve Asset Solutions says it has hired former Mercer Investment Consulting consultant Fiona Donaldson.
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Hewitt nabs ex-HACL’s Riddaway
UK – Former HSBC Actuaries and Consultants (HACL) investment strategy head Bobby Riddaway, has been appointed client consultant at Hewitt Associates.
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State Street wins €950m in UK servicing briefs
UK - State Street says it has won a total of almost £650m (€950.8m) in investment servicing mandates from four separate UK pension fund clients.
