All articles by Meagan Rees
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Asset management M&A hits record – report
GLOBAL – The sale of asset management businesses worldwide in the first half of 2006 hit the highest level ever, according to a new report.
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West Midlands tenders currency mandates
UK – The £6.6bn (€9.7bn) West Midlands Metropolitan Authorities Pension Fund is tendering two new briefs – one currency alpha mandate and an active specialist currency overlay mandate.
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NAPF CEO Farnish quits for Barclays role
UK – Christine Farnish, chief executive of the National Association of Pension Funds (NAPF), will step down at the start of October to become public policy director at Barclays.
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ABP transfers New York hedge fund team
GLOBAL – The €193.6bn Dutch civil service pension scheme ABP will next month transfer its New York-based hedge fund team to a newly established funds-of-funds outfit called New Holland Capital.
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Bank of Ireland AM re-jigs investment structure
IRELAND – The Bank of Ireland Asset Management today announced a new investment business structure with the appointment of three managing directors – including former ABN Amro research head Chris Johns - to take over from outgoing chief investment officer Chris Reilly, who will retire next year.
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MLIM nabs SSGA’s O’Carroll
UK – Eilín O’Carroll, European product management head at State Street Global Advisors, has left to join Merrill Lynch Investment Managers’ product development team.
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GSAM to get a third of PPF levy funds
UK – The Pension Protection Fund, the government’s pensions lifeboat, will assign roughly a third of its £140m (€205m) in initial levy funds to Goldman Sachs Asset Management, according to the PPF’s Business Plan 2006/2007.
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Lincolnshire scheme silent on BETonSPORTS
GLOBAL – At least one UK pension fund - Lincolnshire - may have lost out in the decline in share prices of online gaming companies following the detention of BETonSPORTS chief executive David Carruthers.
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Maher steps down as Pensions Board CEO
IRELAND – Anne Maher is due to step down resign as chief executive of Irish pensions regulator the Pensions Board after 10 years in the role.
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Northern Trust names European outsourcing chief
EUROPE – David Copley, former Mellon UK investment operations outsourcing and fund accounting chief, has joined Northern Trust as head of investment operations outsourcing for Europe.
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Italian hedge fund industry lacks special skills – AIMA
ITALY – The absence of specialist on-shore knowledge in Italy’s hedge fund industry has dampened down the market for competition, according to a report by global hedge fund trade association AIMA and international law firm Simmons and Simmons.
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BBC workers to vote on strike action
UK – Some 10,000 BBC employees will vote next week on whether to take strike action against the broadcasting giant over a pensions and salary dispute.
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PGGM, ABP, PME take equities hit
NETHERLANDS – The three biggest Dutch pension funds have been hit by negative equity returns in the second quarter of 2006, which contributed to the funds’ overall negative returns for Q2.
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Paternoster names Turner non-exec director
UK – Adair Turner, former chair of the Pensions Commission, has been appointed non-executive director of Mark Wood’s UK defined benefit pension buyout firm Paternoster.
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Old Mutual Asset Managers appoints CIO
UK – Old Mutual Asset Managers (OMAM) has appointed Eoin Murray, its current head of quantitative strategies, as chief investment officer.
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Hymans axed by Cape pension trustees
UK – The pension trustees of global industrial services company Cape PLC have axed Hymans Robertson as scheme consultant, and appointed Buck Consultants instead.
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IPE-QUEST: Two new searches on system
GLOBAL – A continental European pension fund is looking to invest between $50m and $100m in hedge funds via IPE-QUEST.
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IPE and AP Info Services launch ‘Red Book’
GLOBAL – Business Information provider AP Information Services, in collaboration with long-term partner IPE International Publishers, today launched the seventh edition of ‘International Pension Funds and their Advisers 2006/7’.
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FRR launches search for consultant
FRANCE - The Fonds de Réserve pour les Retraites' - the €28.1bn French Pensions Reserve Fund – plans to hire an external provider of performance measurement services. .
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Thornton named MD of Gazelle pensions business
UK - Paul Thornton, former Watson Wyatt director and senior industry figure, has been appointed managing director of the pensions arm of specialist and independent financial advisory firm Gazelle.