All articles by Carolyn Bandel – Page 38
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Unions handed controls for BAA emerging landing
UK – The first of the three planned strike actions at the UK's busiest airports has been halted after airport operator BAA has said it will hold back from closing its final salary pension scheme.
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SocGen and Calyon finalise brokerage joint venture
[16:00 CET 02-01] FRANCE – Investment manager Société Générale and Crédit Agricole’s investment bank Calyon have today announced the operational launch of their joint new brokerage subsidiary, Newedge.
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Wednesday people roundup
[14:00 CET 02-01] People roundup GLOBAL – PGGM, UBS, Mercer, SEB, Generali, IoA, Natixis, Brewin Dolphin.
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Pressure on reinsured pensions eased
[13:00 CET 02-01] NETHERLANDS – Dutch corporations will no longer be faced with high redemption fees if they decide to move their pension fund from one insurer to another.
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Randstad goes fiduciary with Kempen
[16:00 CET 21-12] THE NETHERLANDS – The Dutch temping agency company Randstad has appointed the Dutch asset manager Kempen Capital Management (KCM) to manage its €390m pension fund.
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New platform pleads for life settlement standards
[13:30 CET 21-12] NETHERLANDS – A new Dutch platform for life settlement providers and investors calls for internal regulation and professional standards for the emerging asset class.
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ABP and Cordares take first steps to merger (amended)
[15:30 CET 20-12] NETHERLANDS – The Dutch €220bn ABP fund, the industry-wide pension fund for the building industry and the fund for building corporations have effectively announced the first step to a merger by signing a declaration of intent of cooperation.
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Finnish top two take on Nokia
[13:00 CET 20-12] FINLAND – Finnish mobile telephone manufacturer Nokia has today announced it will transfer its €1.2bn statutory pension liabilities to Ilmarinen and Varma in March next year.
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Wednesday people roundup
14:00 CET 19-12] GLOBAL – People roundup: OTP, Axa, SEB, Watson Wyatt, Aberdeen, MFS, Partners Group.
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BMW mulls pension transfer
[16:30 CET 18-12] GERMANY – Munich-based luxury carmaker Bayerische Motoren Werke (BMW) has said it looking funding its pension liabilities externally, possibly via a so called contractual trust arrangement (CTA).
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Mercer signs Höfer deal
[14:00 CET 18-12] GERMANY - Mercer Germany's Frankfurt-based operation has signed an agreement to take over German pension consultant Höfer Vorsorge-Management on January 1.
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ABP to expand European engagement partnerships (amended)
[11:00 CET 18-12] NETHERLANDS – The €218bn Dutch pension fund ABP is due to expand its cooperation with a number of other European pension funds to create new external stakeholder engagement partnerships.
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Indexation label 'not strong enough' - Aon
[16:15 CET 17-12] NETHERLANDS - The new indexation label for pension funds’ participants should not only indicate the expected quality of the future indexation, but also provide clarity on the entire pension arrangements, consulting firm Aon has argued.
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MAN finalises Pensionsfonds
[15:30 CET 14-12] GERMANY – Munich-based mechanical engineering group Man AG has today announced it has now set up its Pensionsfonds within its contractual trust arrangement (CTA).
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Paternoster closes largest buyout yet
[14:00 CET 14-12] UK – The shipping group P&O has today announced has paid £800m (€1.11bn) to transfer its pension liabilities of existing pensioners to UK pension buyout company Paternoster.
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Volkswagen revamps UK fund
[12:00 CET 14-12] UK – The £160m (€222m) UK pension fund of German car maker Volkswagen has today confirmed it is moving towards a liability driven investment (LDI) strategy.
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Belgium fills OFP gap
[16:45 CET 13-12] BELGIUM – The CBFA, Belgium’s pension regulator, has finally clarified its position on solvency for the new OFP pension vehicle – so far a ‘missing link’ in the legislation.
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UK’s social housing fund replaces chairman
[16:30 CET 13-12] UK – Alister Green has retired after nine years as chairman of the £1.7bn (€2.4bn) Social Housing Pension Scheme (SHPS).
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Dutch Unilever fund continues direct real estate
[15:45 CET 13-12] NETHERLANDS – The €4bn Dutch pension fund of Unilever, known as Progress, has strongly denied it intends to sell off its direct real estate holdings.
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Real SRI engagement small among funds
[11:00 CET 13-12] NETHERLANDS – Most funds muse on socially responsible investing (SRI), though often falter in implementing solid strategies, according to a new report.
