All articles by Barbara Ottawa – Page 126
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Denmark pension funds senior manager carousel
DENMARK – From November, the senior management at three Danish pension funds will change as a result of the retirement of Copenhagen-based AP Pension CEO Holger Dock.
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Siemens Swiss pension fund manager arrested
SWITZERLAND – Roland Rümmeli, portfolio manager of the CHF1.7bn (€1.1bn) Siemens Switzerland pension fund, is being held in custody following his arrest in connection with investigations into the Swissfirst scandal on Friday. He was also suspended by the Siemens AG.
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Swedes and Dutch scrutinise private equity funds’ role
EUROPE – A week before general elections, the Swedish government has raised concerns about private equity fund Cevian’s investment approach in Volvo.
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S&P pension director MacLachlan joins Watson
UK – Watson Wyatt has hired Standard & Poor’s director of pension services Jim MacLachlan as a senior investment consultant.
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BAE may use Airbus cash for pensions
EUROPE – UK aerospace group BAE Systems may use some of the approximately £1.2bn (€1.7bn) proceeds from the sale of its 20% stake in airbus for pensions.
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Sweden’s PPM appoints S&P, Wassum
SWEDEN – The Swedish Premium Pensions Authority (PPM), facing criticism for its fund selection tool “Lotsen” earlier this month, has appointed rating firms S&P Fund Services and Wassum Rating AB.
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Van Lanschot targets institutions with Kempen bid
NETHERLANDS – Dutch private bank Van Lanschot is looking to increase its institutional reach with a €300m takeover bid for independent Dutch merchant bank Kempen.
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Polish pension supervisor KNUiFE to be dissolved (amended)
POLAND – Polish pension supervisor KNUiFE is to be dissolved under a disputed law which will see the three financial supervisory authorities merged into one.
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Global fund management asset growth slows
GLOBAL – Total assets managed by the world’s largest 500 fund managers grew to $53.6trn (€41.8trn) in 2005, consulting firm Watson Wyatt reports.
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CSAM names European pensions group MD
EUROPE - Credit Suisse Asset Management has appointed Paul Bourdon as managing director of its newly created European Pension Solutions Group.
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Italy-Germany cross-border pension fund planned
EUROPE - PensPlan, the pension services provider of the semi-autonomous Trentino Alto Adige region in northern Italy, is planning to offer a cross-border fund in Germany under the pension directive.
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USS drops GSAM and LGIM
UK – The £22bn (€32.6bn) Universities Superannuation Scheme has dropped Goldman Sachs Asset Management (GSAM) and Legal & General Investment Management as external managers to take more assets in-house.
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European construction pensions task force (amended)
EUROPE – The European Association of Paritarian Institutions has a task force looking at the impact of portable pensions on the construction sector (amends to clarify earlier article).
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Avis closes German pension scheme
GERMANY – Loss-making car rental group Avis Europe has disclosed that it gained €3.2m by closing the pension scheme in its German branch for new employees and freezing accrued benefits.
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AP4 misses benchmark again
SWEDEN – AP4, the Swedish buffer fund AP4 that is getting a new chief executive, has reported first-half returns 0.8% - 0.5 percentage points below benchmark.
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UK schemes quiz firms on women’s pay
UK – The Local Authority Pension Fund Forum has written to all companies in the FTSE 350 index enquiring about equal pay for women.
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AP3 to analyse asset management structure
SWEDEN - Swedish buffer fund AP3 says it will analyse its asset management structure in the second half of 2006, according to its latest half-year report.
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JP Morgan ousts Wellington at Merseyside
UK - The £3.8bn (€5.5bn) Merseyside Pension Fund has appointed JP Morgan Asset Management for its newly created £100m European (ex-UK) equities mandate.
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Folksam facing money-laundering allegations
SWEDEN - Swedish insurance company Folksam is facing allegations that it offered clients money-laundering opportunities.
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Schroders’ Denmark chief retires
DENMARK - Steen Svendsen has retired as managing director of Schroders Investment Management Denmark to take a role at a private equity group.
