Advisers – Page 96
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News
EU’s Almunia sees no changes to social model
EUROPE - Joaquín Almunia, the European Commissioner for Economic and Monetary Affairs, says the continent’s social models will not have to be sacrificed to deal with population ageing and globalization.
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ABP, PGGM award €11bn private equity mandate
NETHERLANDS – ABP and PGGM, the two largest Dutch pension funds, have awarded a new €11bn private equity mandate to AlpInvest.
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Hewitt names Szelecki as East European head
EUROPE – Hewitt Associates has named Zsolt Szelecki to head its European emerging markets group covering mostly Eastern European countries.
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International pensions now mostly DC – Mercer
GLOBAL - Two-thirds of companies with international pension plans now use defined contribution arrangements, according to a survey from Mercer Human Resource Consulting.
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Fidelity setting up multi-manager business
UK – Fidelity Investments is setting up a multi-manager business that will eventually offer manager of managers services.
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DeAM, Trinkaus in running for Henkel CTA
GERMANY – Industry sources say Deutsche Asset Management and HSBC’s Trinkhaus Capital Management may be in line to advise chemicals firm Henkel on its planned contractual trust arrangement – an external fund to finance more than €1bn in pension liabilities.
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Janus names consultant relations director
GLOBAL - Janus Capital Group has named Brad Gillman as director of consultant relations at Janus Institutional Asset Management.
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Study finds pension funds are fickle
EUROPE – Pension funds are the most fickle of all European institutional investors when it comes to asset managers, according to a new study.
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UK actuarial standards board chair named
UK – Former Laurentian Financial Group chief executive Paul Seymour has been appointed chairman of the UK’s new actuarial standards board.
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MEAG targets third-party growth
GERMANY – MEAG, the asset management arm of reinsurance giant Munich Re, plans to expand its third-party business by between 25-30% annually, according to Robert Helm, managing director at MEAG responsible for third-party business.
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Shier to chair Groupe Consultatif pensions group
EUROPE – Hewitt’s Philip Shier has taken over as chairman of the Groupe Consultatif Actuariel Européen’s Pensions Committee from Watson Wyatt’s Paul Thornton.
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Buck’s investment research head Treich exits
UK – Rob Treich, head of investment research at Buck Consultants, has left to join Mercer Investment Consulting.
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Retired rich are huge untapped market -- McKinsey
UK -- Retiring and retired individuals in Europe represent a huge opportunity for any player which really decides to focus on the market, according to management consultants McKinsey in a recent report.
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Dutch experts split over pensions body
NETHERLANDS -- Opinion on the need for a specialised Dutch pensions ministry is sharply divided.
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Turner Report – the reaction
UK – The release of the Turner report – the second by the Pensions Commission tasked with reviewing challenges facing UK pensions - has attracted mixed responses from across the pensions industry.
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Features
Benefiting from backlash
In the wake of the Securities and Exchange Commission (SEC) investigation of potential conflicts of interest in consulting firms, small independent consultants are finding themselves in vogue – and they are determined to hold on to their position in the long term by proving that they offer superior service. Since ...
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Robeco names consultant relations head
NETHERLANDS – Robeco Asset Management, hit by a “disappointing” asset inflow in the first half, has hired a head of consultant relations.
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Mercer’s Dutch chief Verschuren to leave
NETHERLANDS – Frank Verschuren, general director of Mercer Human Resources Consulting Netherlands, is to leave the firm after 25 years.
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Uncertainty over BaFin real estate stress tests
GERMANY – BaFin, the German financial services regulator, has yet to make a decision on whether to include real estate investments in the so-called “stress tests” that it requires German lifer insurers and insurance-tied pension funds to undergo.
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IPE-QUEST: Swiss fund tenders €258m of debt
SWITZERLAND – Consultant MBS Capital Advice has tendered up to CHF400m (€258m) in euro zone and Swiss debt on behalf of a Swiss pension fund client via IPE-Quest.