Advisers – Page 99
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UK says new rules to save schemes £10m
UK - The Department for Work and Pensions says new "bulk transfer" rules will save smaller schemes around £10m (€14.7m) a year.
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Watson announces five client wins
EUROPE – Consulting firm Watson Wyatt says it has won five new clients recently.
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Vanguard loses out in Belgian court battle
BELGIUM – A Belgian court has ordered Vanguard, the $850bn (€710bn) mutual fund company, to pick up a damages tab worth almost €400,000 following defeat by former European marketing assistant director Henk Beets.
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Troubled Alliance Capital gets NPRF boost
IRELAND – The National Pensions Reserve Fund has made its first move into emerging markets equities with a €142m investment via Alliance Capital Management, which has been under scrutiny from US regulators.
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MLIM hires Aegon UK credit head
UK – Merrill Lynch Investment Managers has appointed former Aegon Asset Management UK credit head, Daniel McKernan, as sterling credit fund manager.
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Pensions Trust names sales manager
UK – Occupational pension fund The Pensions Trust has appointed Phil Bradish as sales manager following an expansion and restructuring of its sales team.
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AMF names new bond head
SWEDEN – Bengt Björkén has been named head of bond management at AMF Pension.
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Ex-Mercer partner appointed Hewitt consultant
UK – Hewitt Associates has hired former Mercer HRC European partner Jonathan Gainsford as consultant at the group’s UK retirement business practice.
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Cominvest gets new chief executive
GERMANY – Commerzbank has created a new management board for its asset management division and named a new chief executive for German fund arm Cominvest in a bid to revive the division’s sagging fortunes.
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Royal & Sun appoints pensions “troubleshooter”
UK – Royal & SunAlliance has appointed pensions “troubleshooter” Jerry Gandhi as interim UK pensions director following the departure of Kevin O’Boyle to BT.
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Icelandic pension fund consolidation continues
ICELAND - Two regional Icelandic pension funds are close to finalising a €500m merger agreement.
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New Dutch postal fund to be set up
NETHERLANDS - Dutch postal operator TNT is to set up a new career-average pension fund for around 20,000 post deliverers.
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Changes to UK PPF levy broadly welcomed
UK – The Pension Protection Fund’s plans to change the risk-based levy have been broadly welcomed by the industry today.
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IPE's Hurst wins SSGA fund management award
EUROPE - Martin Hurst, Features Writer at IPE Magazine, has won the Best Fund Management Trade Journalist award at State Street Global Advisors' annual UK institutional press awards.
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ABN Amro names new asset management CEO
GLOBAL – ABN Amro has named Sarah Russell, an Australian who joined the bank in 1994, as chief executive of its asset management division.
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Mercer disbands international consulting team
GLOBAL – Mercer Human Resource Consulting is to dissolve and re-deploy its international consulting team from January 2006 to “maximise its impact and potential”, according to an internal memo seen by IPE.
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Watson Wyatt seeking manager researchers
UK – Consulting firm Watson Wyatt has advertised job vacancies for manager researchers, based in Reigate or London.
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Commission set to present portability directive
EUROPE – The European Commission is set to approve a delayed occupational pensions portability directive on October 20 - yet the document has already drawn fire from Germany’s occupational pensions lobby Aba.
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NAPF chairman rounds on MPs
UK – Robin Ellison, the chairman of the National Association of Pension Funds, has lambasted MPs as part of a wide-ranging critique of the UK’s pension policy apparatus.
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IPE-QUEST: Tenders for up to $100m in US bonds
SWITZERLAND – Lugano-based consultant Kieger has tendered up to $100m (€83m) in actively managed US government bonds via IPE-Quest.
