All articles by Daniel Brooksbank – Page 20
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SSGA facing loss of $13bn CalPERS index brief
US – California pension giant CalPERS is considering terminating State Street Global Advisors from a $13bn (€10.2bn) international equity index mandate.
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Mercer names ex-Watson’s Whalley as UK chief
UK – Mercer Human Resource Consulting has named former Watson Wyatt European managing partner Alan Whalley as its new UK chief executive.
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Firms’ pension deficits have limited impact – BOE
UK – Pension deficits have had relatively little impact on companies’ business decisions, although there has been an effect on wages, says the Bank of England.
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Mellon Analytical Solutions MD Brant departs
UK - Mick Brant, managing director of Mellon Analytical Solutions International, is leaving the company later this month.
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JLT, Northern Trust in manager-of-managers tie
UK – Northern Trust Global Investments is to select and monitor asset managers for Jardine Lloyd Thompson’s UK pension fund clients under a partnership deal announced today.
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Mercer takes on 16 Scottish & Newcastle staff
UK – Mercer Human Resource Consulting has taken on 16 Scottish & Newcastle in-house pension staff from as part of an outsourcing contract with the brewing firm’s £2bn (€2.9bn) pension fund.
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Varma’s first-half returns slump to 1.3%
FINLAND – The €25.3bn Varma Mutual Pension Insurance Co. made a return on its investments of 1.3% in the first half – down from 6.7% a year before.
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Ireland debates mandatory system
IRELAND – The Irish government has been advised by the Pensions Board to implement an increase in the state pension and create a new mandatory supplementary system.
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Nestlé CEO: pension funds are main stakeholders
SWITZERLAND - Peter Brabeck-Letmathe, chairman and chief executive of Nestlé, has acknowledged pension funds’ role as primary stakeholders in the food group.
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ESPS terminates €1.48bn F&C real estate brief
UK – The €27bn Electricity Supply Pension Scheme has terminated its £1bn (€1.48bn) real estate mandate with F&C, the asset manager says.
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Ireland personal account assets top €544m
IRELAND – Assets held by the new Personal Retirement Savings Accounts in Ireland have risen to more than €544m as at the end of the second quarter.
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Aon Consulting profit down 20%
GLOBAL – Profit and revenue at Aon Consulting slipped in the second quarter, parent Aon Corp. said.
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Hewitt delays third-quarter earnings
GLOBAL – Pension consulting and human resources firm Hewitt Associates has delayed its third-quarter earnings announcement.
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AXA IM, BGI and SGAM post strong asset inflows
EUROPE – The asset management divisions of AXA, Barclays and Societe Generale all posted multi-billion rises in assets under management.
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Hermes’ Biles joins water company board
UK - Hermes Pension Management director John Biles is to join the board of Sutton and East Surrey Water Plc, the UK utility bought last year by Deutsche Bank’s infrastructure investment business.
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IFRS pension reporting ‘could be improved’
UK – A UK panel has found that defined benefit pension disclosures under International Financial Reporting Standards could be improved.
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Mercer Q2 profit “disappointing”, says parent
GLOBAL – Mercer Human Resource Consulting’s profitability in the second quarter was “disappointing”, according to parent company Marsh & McLennan Companies.
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Credit Suisse raises its pension contribution
SWITZERLAND – Banking giant Credit Suisse is to contribute more to its pension plans than anticipated due to changes to their funding status.
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Marconi pension escrow account under spotlight
UK – The escrow account set up to assist the £2.7bn (€3.9bn) former Marconi pension fund after the company was broken up has emerged as a key factor in a new takeover bid.
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UK health service pension proposals unveiled
UK – Staff and employers at the National Health Service are being asked to comment on proposed changes to the NHS pension scheme arrangements for England and Wales.
