All articles by Daniel Brooksbank – Page 64
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UK: Mercer takes on 170 Marsh staff
UK – Consulting firm Mercer has taken on 170 staff from sister firm Marsh with the combination of the two firms’ benefits advisory and solutions businesses.
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Coats awards €2.2bn actuarial brief to Mercer
GLOBAL – Textile firm Coats has named Mercer Human Resource Consulting as global actuary covering £1.5bn (€2.2bn) of pension assets.
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NAPF trustee study toned down
UK – The final version of an academic study backed by the National Association of Pension Funds has had some of its comments about trustees’ lack of competence removed.
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UK protection fund says long way to go for T&N
UK – The Pension Protection Fund says it has not yet received an official application from the administrators of the Turner & Newall pension scheme following a £250m (€366m) injection into the scheme.
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IPE-QUEST: Four new searches on system
GLOBAL – Four new searches, from pension funds in Switzerland, Denmark and Europe, have been tendered via IPE-QUEST.
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Workers ‘losing out’ in Irish building scheme
IRELAND – A report by consulting firm Mercer has found that workers in the Irish construction industry are losing out on benefits due to a loophole.
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Nijssen quits as ING’s global head of pensions
GLOBAL – Jan Nijssen has quit as global head of pensions at Dutch-based banking group ING, to be replaced by Tom Kliphuis.
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Study queries pension fund-low yield link
GLOBAL – A new academic study has questioned the notion that pension funds shifting into bonds will inevitably lead to long-term low bond yields.
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AP4 follows AP2 in rejecting Skandia bid
SWEDEN – The SEK138bn (€14.7bn) Fjärde AP-fonden, the Fourth Swedish National Pension Fund or AP4, has followed its sister fund AP2 in rejecting Old Mutual’s bid for insurance firm Skandia.
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UK: exodus at DeAM as Aberdeen deal closes
UK – Senior staff have already left or are set to leave Deutsche Bank’s former UK asset management operation this Friday following its acquisition by Aberdeen Asset Management.
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No pension experts on new EU monitoring group
EUROPE – There are no pensions experts on the re-formed European financial services monitoring group, despite the fact that it was expanded earlier this year to take occupational pensions into account.
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ABN Amro names European consultant head
EUROPE - ABN Amro Asset Management has named Henderson's Deborah Harris to the new role of European head of consultant relationships.
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G-10 chiefs call for consistent pension funding
GLOBAL – Top finance officials of the Group of Ten leading industrial nations have called for more consistency in pension funding requirements.
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IPE-QUEST: Dutch schemes tender debt, equities
NETHERLANDS – Two Dutch pension funds have tendered separate mandates – for investment grade debt and Asia-Pacific equities – via IPE-Quest.
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AP2 says Skandia needs “peace and quiet”
SWEDEN – Andra AP-fonden, the Second Swedish National Pension/AP2, has waded into the bid for Skandia by Old Mutual, saying the Swedish insurer needs a period of “peace and quiet”.
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European pension directive comes into force
EUROPE - Directive 2003/41/EC on the activities and supervision of institutions for occupational pension schemes - the pension directive - is now in force across the 25 member states of the European Union.
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DB schemes to become extinct soon – Mercer poll
GLOBAL – Defined benefit pension schemes will soon be as extinct as dinosaurs, according to an online vote on consulting firm Mercer’s web site.
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Pension funds to pay for new UK actuarial board
UK – The Financial Reporting Council is to set up a new Board for Actuarial Standards – funded, in part, by pension funds.
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Watson Wyatt moves European back office to India
EUROPE/INDIA – Consulting firm Watson Wyatt says it plans to move some of its European back office operations to India.
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AP4 axes State Street from €15bn custody brief
SWEDEN - Fjärde AP-fonden, the Fourth Swedish National Pension Fund or AP4, has awarded a SEK138bn (€14.7bn) sole custody mandate to Northern Trust, resulting in a loss for multi-year incumbent State Street.
