All articles by Meagan Rees – Page 22
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Multinationals wary of UK pension levies
UK – High Pension Protection Fund levies and the “illogical and unfair” risk assessment calculations could drive multinational companies out of the UK, according to market commentators.
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ABP capital markets chief Straatman leaves
EUROPE – Jan Straatman, chief investment officer for capital markets at ABP Investments, is to leave to take up a new CIO position at Pearl Group – entrepreneur Hugh Osmond’s life assurance fund investment vehicle.
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SEI sees 25% European growth
EUROPE – SEI, the US-based multi-manager fund provider, expects to grow its business in Europe by 25% annually, with nearly all of that growth taking place in the UK, its managing director for Europe says.
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UK regulator out of touch – Aon
UK – Educating the Pensions Regulator and investment are the two greatest challenges facing trustees at present, according to Aon Consulting’s chief actuary Donald Duval.
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UK pensions reform hit by political row
UK – Chancellor Gordon Brown is at the centre of a political row having been accused of trying to stifle the pensions debate ahead of the release next week of the much-anticipated Turner report.
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Northern, Nordea in manager-of-manager move
EUROPE – Northern Trust and Nordea have launched two manager-of-manager funds in Finland, with a view to rolling them out across Sweden, Denmark and Norway in the near future.
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BGI’s Groenendijk joins Pensioenfonds Vervoer
NETHERLANDS – Barclays Global Investors principal Patrick Groenendijk has left to become head of investments at the €5bn Pensioenfonds Vervoer, the industry-wide transport sector pension fund.
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Horeca in €100m private equity move
NETHERLANDS - The €2bn Dutch hotel and catering scheme, Pensioenfonds Horeca en Catering, has awarded two €50m private equity mandates to Goldman Sachs Private Equity Group and HarbourVest Partners.
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Watson Wyatt’s Eyre joins Mercer
UK – Mercer Human Resource Consulting has hired Watson Wyatt’s Peter Eyre as a principal based in London.
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Sweden’s AP7 taps BoNY/Nordea for custody
SWEDEN – Sjunde AP-fonden, Seventh Swedish Pension Fund or AP7, has awarded sole custody to Nordea and the Bank of New York.
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Aegon tells schemes to take more risks
NETHERLANDS – Aegon has urged pension funds to take more risk in their portfolios despite regulatory requirements and declining funding ratios.
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Fortis to spend €200m revamping management
GLOBAL – Fortis will spend around €200m to shake-up around 3,000 management level staff, it said today.
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Portugal best overall for pensions - Aon
EUROPE – Portugal has the best overall pensions system in Europe, according to Aon Consulting’s new European Pensions Barometer.
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UK says it won’t plug Royal Mail pension gap
UK – The Royal Mail pension fund will not be receiving a £2bn (€2.9bn) cash injection to help reduce its deficit, a spokesperson for the department of trade and industry told IPE today.
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Interpolis’ Staats to join Swiss Life
NETHERLANDS – Gerard Staats, legal and tax adviser at pensions manager Interpolis, is to leave to join Swiss Life (ZwitserLeven) in a policymaking role.
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UK’s Bexley scheme eyes alternatives
UK – The trustees of the £360m (€525.9m) Bexley Council Pension Fund will meet on Wednesday to decide whether to diversify the fund’s 60/40 equity/bond split by investing in hedge funds and private equity.
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Hewitt’s Hammer joins Mercer
UK – Mike Hammer, a former senior consultant at Hewitt, has been appointed principal in Mercer Human Resource Consulting’s retirement business.
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Grafische’s Schapendonk joins AZL
NETHERLANDS – Dutch pension fund manager AZL has appointed Walther Schapendonk as director of investment services with a special focus on strategy and risk management among pension funds.
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Merchant Navy scheme reviewing JP Morgan
UK – The Merchant Navy Officers Pension Fund (MNOPF), worth close to €4bn, is currently in the process of a custodial review, IPE has learnt.
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State Street’s Conway returns to Boston
GLOBAL – Jeff Conway, State Street’s head of investor services in the UK, Middle East and South Africa, will return to Boston at the end of the year to take up the new role as head of executive operations, strategy and investor relations.
