All articles by Daniel Brooksbank – Page 9
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CSAM gets new European COO
EUROPE – Credit Suisse has named Dresdner Kleinwort’s Joachim Mies as chief operating officer for Asset Management in Europe, the Middle East and Asia.
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Longevity hitting the bottom line, says BOE
UK – Higher pension contributions - due in part to increasing longevity - are starting to hit companies’ costs, says the Bank of England.
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UK to set up pensions ‘delivery authority’
UK – The UK government has confirmed it plans to set up a ‘delivery authority’ for pensions.
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IPE-QUEST: Two Danish funds tender high yield
DENMARK – Kirstein Finans has initiated a search for a global high-yield fixed income manager on behalf of two Danish pension funds via IPE-Quest.
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Mellon targets multi-national pooling
GLOBAL – Mellon Financial Corp. is targeting multi-national pooling as one of the drivers for its asset servicing business, according to the division’s head Jim Palermo.
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Icelandic regulator sees more pension mergers
ICELAND – The head of Iceland’s financial regulator says he expects more pension fund mergers – although they result in a greater concentration of risk.
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Schroders’ YTD institutional outflow hits €9.5bn
UK – Schroders has lost £6.4bn (€9.5bn) in institutional assets so far this year.
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Mercer: patience a virtue in infrastructure
GLOBAL – Investment consulting firm Mercer is telling its pension fund clients that patience and due diligence are virtues when it comes to investing in infrastructure.
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USS backs new student housing fund
UK – The Universities Superannuation Scheme is among the institutional backers for a new £515m (€764m) student accommodation fund being launched by real estate firm Unite Group.
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Study: 12% of European funds use LDI derivatives
EUROPE – A new study has found that 12% of continental European pension funds have implemented an asset/liability matching strategy using derivatives.
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S&P says pensions a risk for European banks
EUROPE – Standard & Poor’s says pension obligations still pose significant risk for some western European banks.
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Mercer launches transition consulting business
GLOBAL - Mercer Investment Consulting has launched a new transition consulting service, with what it says is the market’s first truly global transition manager research capability.
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EU’s McCreevy targets public sector pensions
EUROPE – Charlie McCreevy, the European Commissioner for Internal Markets, has called on European governments to tackle their burgeoning public sector pension liabilities.
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Hewitt posts $115.9m loss for 2006
GLOBAL – Hewitt Associates, which replaced its chief executive in September, has reported a net loss of $115.9m (€90.1m) for the 2006 fiscal year – compared to a profit of $134.7m the year before.
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Irish pensions regulator names new CEO
IRELAND – Brendan Kennedy, actuarial adviser at the Pensions Board, is to take over as chief executive of the regulator from Anne Maher.
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UK aligns FRS17 pensions standard to IAS19
UK – The UK’s Accounting Standards Board is to amend the FRS17 retirement benefits accounting standard to align it with the international IAS19 standard.
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IPE-QUEST: Dutch pension fund tenders real estate
NETHERLANDS – A Dutch industry-wide pension fund has tendered a c.€75m euro zone real estate mandate via IPE-Quest.
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“Reactionary” Pickering remarks under attack
UK – Alan Pickering, the former chairman of the European Federation for Retirement Provision and the National Association of Pension Funds, has come under attack from a pensioner group for “reactionary” comments about auto-enrolment.
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Bank chief warns over hedge fund due diligence
EUROPE – The German central bank has warned that “competitive pressures” may mean prime brokers are compromising on hedge fund due diligence.
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Insider pension trustees act for sponsor – study
UK – A new academic study has presented evidence that company-appointed pension fund trustees act in the interests of the sponsoring company and not scheme members.
