All articles by Hugh Wheelan – Page 31
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Euroclear acquires Belgian and Dutch depositories
EUROPE – Euroclear, the Brussels based global settlement system has finalised agreement with pan-European stock exchange Euronext on the consolidation of both CIK and Necigef, the central securities depositories (CSDs) of Belgium and the Netherlands, into the Euroclear group...
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Mercury Private Equity becomes HgCapital
UK – Mercury Private Equity, the London based venture capital outfit, which was spun off from Mercury Asset Management last year, has renamed itself HgCapital....
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OECD says Spain should look at mandatory pensions
SPAIN – The OECD has warned Spain that it needs to implement new reforms to prepare the country for the consequences of population ageing, including the possible introduction of compulsory second-pillar pension funds.....
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First merger in Polish pensions market announced
POLAND – The first merger of two pension fund management companies in the fledgling Polish pensions market has been approved with the tie up of the Invesco/Polish church venture ARKA-INVESCO and Pocztowo-Bankowe PTE, the pension operation of the Polish post office Poctza Polska and BNP Paribas and its French insurance ...
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Northern scoops e1bn master custody brief
UK – The £640m (e1bn) Falkirk Council pension fund in Scotland has appointed Northern Trust as its master custodian, in a move which follows the recent appointment of Capital International to an approximately £128m UK/European equities brief....
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CCF-SEI appoints new COO for France
FRANCE – CCF-SEI Investments, the Paris based manager-of-managers joint venture, has made two new senior appointments with the arrival of Vincent Boisseau as chief operating officer and Marie-Pierre Ravoteur as relationship manager in the retail department....
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Swissca CEO resigns after strategy spat
SWITZERLAND - Peter Meier, CEO of Zurich based Swissca Portfolio Managers has resigned from the company following a disagreement with the board on strategic policy....
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EMAC to take June 19 vote on pensions directive
EUROPE - The European Monetary Affairs Committee (EMAC) has announced that it is to vote on and adopt the Karas report on the directive for occupational pension provision on June 19....
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Van Langenhove joins INVESCO as Benelux deputy CEO
BENELUX – Brussels based INVESCO Benelux has appointed Yves Van Langenhove of Fortis Investment Management to become the firm’s deputy CEO with responsibility for institutional sales and client servicing in Belgium and Holland....
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SFr12bn City of Zurich fund to get independence
SWITZERLAND – The SFr12bn pension fund of the city of Zurich (Pensionskasse der Stadt Zurich – PKZ) for municipal employees, looks set to gain independent status from the Zurich City Council early next year, paving the way for more freedom in its investment dealings...
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EC creates powerful new securities committees
EUROPE – The European Commission has announced the creation of two powerful new committees for securities legislation in its response to March’s European Council resolution in Stockholm calling for more effective market regulation in the EU....
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Austria plans DC switch for millions of employees
AUSTRIA – Millions of Austrians could begin investing up to two per cent of annual salary in defined contribution (DC) savings vehicles by the beginning of next year, under plans by the government to substitute mandatory employment indemnity payments with funded arrangements....
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ABP/State Street venture forms investment advisor
NETHERLANDS/US Europe’s largest pension fund the e150bn Heerlen based ABP scheme has formed an investment advisory group that is set to develop a fund-of-funds capability, under the first major deal of its Global Alliance joint venture with US investment manager State Street....
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Austrian electric scheme seeks fund merger
The Vienna based e280m Verbund Pensionskasse, the pension scheme for Austria’s largest electricity company, is seeking a merger with one of the country’s seven open funds in an effort to cut costs and concentrate on its core business.....
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Nasdaq Europe to go live on Friday
EUROPE – Nasdaq Europe, the pan-European exchange formed by the buy-out in March of Brussels based Easdaq by the US exchange, will begin live trading on Friday (June 8), following the approval of its rule book by the Belgian Finance Ministry.
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Deutsche AM unveils new regional COOs
Deutsche Asset Management (DeAM) has appointed a raft of new regional chief operating officers (COO) for Europe, the Asia/Pacific region and the Americas, as part of the restructure of its institutional and retail businesses....
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ING expands South American presence
NETHERLANDS/MEXICO – ING Group has signed an agreement to acquire a controlling interest in Mexico’s largest insurance company Seguros Comercial America (SCA) from the Savia group at a price of $791m (e931m)...
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Mercer names O'Faherty as new Irish head
IRELAND - Paul O’Faherty has been appointed as chief executive of consultant William M. Mercer in Dublin, effective from July 1....
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McCaughey out as Deutsche COO after restructure
CUSTODY - Deutsche Bank Global Securities Services has parted company with chief operating officer, Terry McCaughey, only a year after he started in the position....
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Europol fund re-tenders after expensive proposals
NETHERLANDS - The e2.6m Europol Pension Fund in The Hague, the plan for officials of the European police organisation, is to re-tender for the administration, asset management and risk coverage of the scheme, following a disappointing set of proposals from investment managers....
