All articles by Carolyn Bandel – Page 43
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Ukraine wants migrant pensions system
UKRAINE – The Ukrainian ministry of labour and social policy is calling for a EU-wide, paritarian pension system for Ukrainian migrant workers, IPE has learnt.
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Ex-Morgan Stanley banker claims pension revolution
[16:35 CET 05-11] UK – Amelia Fawcett, former vice chairman of Morgan Stanley's European business, has set up a new company claiming to completely immunise defined benefit (DB) pension schemes from risk.
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Worse for wear Citi retires CEO
[16:20 CET 05-11] GLOBAL – Charles Prince, the chairman and chief executive of America's largest bank Citigroup, has retired on the back of an estimated additional $11bn (€8bn) loss at the firm, directly-linked to the US sub-prime crisis.
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J Sainsbury goes it alone (Update)
[13:00 CET 05-11] UK/QATAR – Qatari-backed investment fund Delta Two has confirmed it has terminated its takeover bid for supermarket chain J Sainsbury, citing market turmoil and concerns over pension fund demands (Updated with comments from Punter Southall).
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Lærernes taps new domestic equity managers
[16:45 CET 02-11] DENMARK – The DKK24.5bn (€3.3bn) Danish teachers' pension fund, Lærernes Pension, has selected Gudme Raaschou and FMS04 to manage a Danish equities portfolio.
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CEIOPS changes direction on Solvency II (amended)
[16:45 CET 02-11] EUROPE – The widely-criticised Solvency II directive, an EU-initiated project aiming at creating a more risk-related solvency model, may not be adopted for pension funds after all, IPE has learnt (Including amended remarks in last paragraph).
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IPE-QUEST: Fund seeks debt manager
[16:30 CET 02-11] EUROPE – A continental European pension fund today has tendered for a €300m corporate Eurozone debt mandate, using IPE-Quest.
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State Street sued over sub-prime saga
[16:30 CET 01-11] GLOBAL – State Street says it is "disappointed" by the three lawsuits its faces from a number of its fixed-income clients, concerning losses linked to the recent sub-prime credit crunch.
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Small funds may be unaffordable in future – DNB
[16:30 CET 01-11] NETHERLANDS – The average pension fund may well be too small to be affordable, says Klaas Knot, director of supervisory policy at the Dutch central bank DNB.
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CASAM hedges fund data
[14:30 CET 01-11] FRANCE – Credit Agricole has launched a new hedge fund analysis service targeted at institutional investors, pension funds and consultants.
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Besieged Merrill seeks new boss
[15:45 CET 31-10] GLOBAL – Stan O'Neal, the American chief executive of Merrill Lynch, has finally stepped down and announced his 'retirement' last night, after the bank reported more than $2bn (€1.4bn) in losses during the third-quarter.
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Wednesday people roundup
[14:30 CET 31-10] GLOBAL – Credit Suisse, HSBC, Watson Wyatt, NAPF, PPF, Henderson, Aon, Fidelity, Investec, Pimco, bfinance, Euroclear, CFA Institute, Nordea.
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Schroders still bleeds institutional assets
[16:45 CET 30-10] UK – UK asset manager Schroders has failed to stem the continuous institutional outflows it has experienced since last year, the firm's latest figures reveal.
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Ireland doomed without pension reforms – IMF
[16:00 CET 30-10] IRELAND – Ireland’s public debt will increase to unsustainable levels in the absence of pension and other reforms, argues the International Monetary Fund (IMF).
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‘Solvency II must be modified’ – AEIP
[15:30 CET 30-10] EUROPE – The European Association of Paritarian Institutions of Social Protection (AEIP) has warned the Solvency II proposals must be modified to suit main IORP directive principles for pension schemes.
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Cable & Wireless considers buyout
[16:15 CEST 29-10] UK – Telecoms group Cable & Wireless (C&W) is in the early stages of talks to sell off its £2bn UK pension fund, IPE has learnt.
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Kaupthing ups ante in SPP takeover
[16:15 CET 29-10] ICELAND – Iceland’s Kaupthing Bank intends to further buy into Storebrand following last week’s shareholders support for the Norwegian life insurers takeover bid of Swedish pension group SPP.
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M&A-hungry Threadneedle pushes into Italy
[16:30 CEST 26-10] EUROPE – UK-based asset manager Threadneedle Investments is looking to open an Italian office, while actively pursuing mergers and acquisitions (M&A) elsewhere in Europe.
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More institutions target fewer managers – study
[16:25 CEST 26-10] EUROPE – Institutional assets under management (AuM) throughout Europe increased by 14% in 2006, but only few manager consistently win business, according to a study by consultancy firm McKinsey & Company.
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Pension Corp delays Telent bid
[16:00 CEST 25-10] UK – Pensions Insurance Corporation (PIC) has secured a seven-day extension to its bid to acquire telecoms group Telent and its £3bn (€4.3bn) pension scheme.
