All articles by Jan Wagner – Page 9
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German state wants best civil servants to work until 68
GERMANY – The southwest state of Rhineland-Palatine is to offer civil servants the opportunity to retire at 68 instead of 64 currently.
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Fidelity's German head leaves
GERMANY – Klaus-Jürgen Baum has abruptly stepped down as chief executive of the German arm of Fidelity Investments, the US-based asset manager.
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Munich life insurance chief retires
GERMANY – Reinhard Fuchs, the 62-year-old chief executive of Munich-based life insurer WWK, is stepping down.
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Feri Institutional makes 10 new hires in Germany
GERMANY – Feri Institutional Advisors (FIA), a German investment consultant, says it has hired 10 new employees and plans to make several additional appointments during the course of the year.
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Oppenheim nabs Lupus alpha CIO
GERMANY – Sal. Oppenheim’s asset management arm has recruited Wolfgang Leoni as its new head of equities and quantitative management, effective from last January 1, IPE has learned.
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Swiss government rejects move to earlier retirement
SWITZERLAND – The government has rejected a proposal by Switzerland’s main union lobby (SGB) to lower the retirement age to 62 for middle-class workers, calling it unrealistic and too costly.
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Swiss unions accept public sector pension cuts
SWITZERLAND – Unions for federal employees insured by Publica, a CHF30bn (€18.6bn) pension fund, have decided against challenging new reforms to the scheme via a national referendum.
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Hannover scheme reports 21% rise
GERMANY – Hannoversche Kassen (HK), a multi-employer pension fund in the state of Lower Saxony, has reported a 21% increase in assets to €113m.
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IVG Immobilien slams G-REITs legislation
REAL ESTATE – German property firm IVG Immobilien has lambasted the government legislation creating German real estate investment trusts (G-REITs), saying that unless it is improved, G-REITs will not be successful.
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Fidelity wants 20% annual growth in fast changing German market
GERMANY – Klaus Mössle, head of institutional business at the German arm of Fidelity Investments, has reaffirmed his ambitious goal of growing that business by 20-30% annually.
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Swiss court ruling over fund collapse appealed
SWITZERLAND – Authorities for the Swiss canton of Solothurn have appealed a court ruling that dismissed their lawsuit against six people connected with the 1996 collapse of the Vera/Pevos pension fund.
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Germany to axe social tax exemption for DC schemes
GERMANY – The government has sent a strong signal that it will axe a social tax exemption for defined contribution schemes, which the German pensions industry feels is crucial to further spread of the second-pillar in the country.
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Germany’s NAEV ups real estate exposure
REAL ESTATE – Germany’s NAEV, a €7.75bn medical pension fund, will expand investments in real estate investment trusts (REITs) and other real estate securities over the next three years, says Hermann Aukamp, NAEV’s director of real estate.
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Goldman Sachs AM Germany chief exits
GERMANY – James Dilworth has quit as managing director of Goldman Sachs Asset Management in Germany.
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EADS considers external pension fund
GERMANY – Aerospace firm EADS has confirmed that it is considering creating an external pension fund – known as a contractual trust arrangement – to fund pension liabilities currently on its balance sheet.
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Swiss banking watchdog rejects pensions role
SWITZERLAND – Eugen Haltiner, president of Switzerland’s banking watchdog (EBK), has rejected the notion that regulation of Swiss pension funds (Pensionskassen) would be improved if it were immediately handed over by the EBK.
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Swiss court throws out pension fund lawsuit
SWITZERLAND – A court for the Swiss region of Olten has dismissed a government lawsuit against six people connected with the 1996 collapse of the Vera/Pevos pension fund – the biggest ever in Switzerland.
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German accountants’ fund to go into alternatives
GERMANY – WPV, an €850m pension fund for chartered accountants, will make inaugural investments in alternative asset classes from 2007, targeting a quota of up to 5%, according to managing director Hans-Wilhelm Korfmacher.
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Threadneedle hires FERI’s Roll for Germany
GERMANY – Threadneedle Investments has recruited Oliver Roll from German investment consultant FERI as its new head of institutional business for Germany, IPE has learned.
