All articles by Daniel Brooksbank – Page 15
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Most actuaries fail communication exam
UK - The Actuarial Profession's communications exam is failed by almost two-thirds of those who take it, says Institute of Actuaries president Nick Dumbreck.
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Principal Global Investors names European CEO
EUROPE - Principal Global Investors has named Nick Lyster as chief executive of its London-based European operations.
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Mercer replaces chief executive
GLOBAL – Mercer Human Resource Consulting’s chief executive Michael Caulfield is to retire and be replaced by Michele Burns, chief financial officer at parent firm Marsh & McLennan Companies.
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Bedford tenders £100m in passive UK equities
UK - The £773m (€1.1bn) Bedfordshire Pension Fund is seeking a passive (index-tracking) investment manager for £100m in UK equities.
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Whitbread fund appoints Watson Wyatt
UK – The £1.2bn (€1.8bn) Whitbread Group Pension Fund have appointed Watson Wyatt as its investment consultant.
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Mercer names bundled pension services chief
UK – Mercer Human Resource Consulting has appointed Chris Evans as leader of its bundled pension services operations in the UK - Mercer Retirement Solutions and Mercer Employee Benefits.
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UK regulator warns on longevity assumptions
UK - The head of the Pensions Regulator has warned that underestimating members' life expectancy could mean millions of pounds of extra pension liabilities.
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UK public pensions liability now €1.5trn – report
UK – The UK’s public pensions liability has been put at more than £1trn (€1.5trn) by a new study, according to a report in the Times.
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More details on €4bn Luxemburg pension tender
LUXEMBURG – The new fund set up to hold Luxembourg’s excess pension revenues has issued a tender looking for fund managers to administer its €4bn in assets.
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European pension reform ‘no effect on savings’
EUROPE – European pension reforms in the 1990s had little impact on savings rates, according to a new academic study.
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Cambridge tenders €44m currency brief
UK - Cambridgeshire County Council has tendered a £30m (€44.7m) currency mandate.
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Hewitt Associates forms Turkish alliance
TURKEY – Hewitt Associates has formed a human resources and actuarial consulting alliance with Turkish management consulting company IDE Consulting.
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Commission set up to review UK rail pensions
UK - An independent Railway Pensions Commission has been set up by the rail unions and employers to review the current railways pensions scheme, chaired by former Pensions Commission member Jeannie Drake.
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TIAA-CREF puts $100m into microfinance
GLOBAL – US educational retirement savings group TIAA-CREF has earmarked $100m (€78.8m) to invest in so-called microfinance initiatives.
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EU’s Borrell considering MEPs’ fund director
LUXEMBURG – A decision about the appointment of Law Debenture pension trustee head Eddie Thomas as a specialist director at the MEPs’ pension fund is currently with the President of the European Parliament, Josep Borrell.
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FRR names manager selection committee
FRANCE – The €27.6bn Fond de Resérve pour les Retraites, the French Pensions Reserve Fund, has re-appointed its manager selection committee, with one change.
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Morgan Stanley asset management earnings slump
GLOBAL – Third-quarter profits at Morgan Stanley’s asset management division fell by 23% although assets under management rose 5%.
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Henderson buys infrastructure firm Laing
UK – Henderson has had a £886.9m (€1.3bn) offer to buy infrastructure and construction firm John Laing accepted.
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ATP planning US real estate investment
DENMARK – The DKK371.5bn (€50bn) Danish supplementary pension scheme ATP is looking at real estate investments in the US.
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BNP Paribas AM names new CIO
EUROPE – BNP Paribas has named Credit Agricole’s Christian Dargnat as its new chief investment officer.