All articles by Meagan Rees – Page 26
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DNB’s Wellink wary of rate impact on schemes
NETHERLANDS – Dutch Central Bank president Nout Wellink has said that the current market conditions and interest rates are not that comfortable for pension managers.
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Greek bank staff fear pension job cuts
GREECE – Staff at the National Bank of Greece have opposed new plans for voluntary retirement fearing another mass staff exodus and increasing financial burdens.
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Ireland’s NPRF warned over conflicts of interest
IRELAND – Ireland’s €13.3bn National Pension Reserve Fund has been warned over potential conflicts of interests in its public-private partnership deals.
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Funds to embrace independent research – McCreevy
EUROPE – European Commissioner Charlie McCreevy is confident that UK and European pension funds will embrace independent research.
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Pensions Trust names sales manager
UK – Occupational pension fund The Pensions Trust has appointed Phil Bradish as sales manager following an expansion and restructuring of its sales team.
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AMF names new bond head
SWEDEN – Bengt Björkén has been named head of bond management at AMF Pension.
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Ex-Mercer partner appointed Hewitt consultant
UK – Hewitt Associates has hired former Mercer HRC European partner Jonathan Gainsford as consultant at the group’s UK retirement business practice.
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JP Morgan Chase assets rise 13% to $828bn
GLOBAL – Total assets under management at JP Morgan Chase surged to $828bn (€692bn) in the third quarter of 2005, up 13% since the third quarter of last year and up $45bn since June 30.
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Aegon aims to be major Polish pensions player
POLAND – Dutch insurer Aegon has stated that it wants to be “one of the leading players” in the Polish pension fund industry. This follows its acquisition of Polish life insurance company Nationwide TunZ in June.
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UK: Mercer to take on 21 Co-op pensions staff
UK – Twenty-one pensions administration staff of consumer cooperative the Co-op are to be transferred to Mercer Human Resource Consulting in an outsourcing arrangement.
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Lloyd’s taps AEGON for bond brief
UK – The Lloyd’s Superannuation Fund – part of Lloyd’s of London - has awarded an £185m (€271m) fixed income mandate to AEGON Asset Management UK.
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WM’s Walsh gets expanded State Street role
UK – State Street Corp. has appointed WM’s Michael Walsh to take over as Scotland managing director from John Corcoran, who’s returning to Boston.
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Royal & Sun appoints pensions “troubleshooter”
UK – Royal & SunAlliance has appointed pensions “troubleshooter” Jerry Gandhi as interim UK pensions director following the departure of Kevin O’Boyle to BT.
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British Telecom names head of pensions
UK – Kevin O’Boyle, former UK pensions director at Royal & SunAlliance, has been appointed new head of pensions at phone giant British Telecom.
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Mercer disbands international consulting team
GLOBAL – Mercer Human Resource Consulting is to dissolve and re-deploy its international consulting team from January 2006 to “maximise its impact and potential”, according to an internal memo seen by IPE.
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Schroders loses British Medical bond brief
UK – Schroder Investment Management has been ousted as fixed interest investment manager for the British Medical Association Staff Pension Fund following a review – the £33m bond mandate has now been awarded to PIMCO Europe.
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Watson Wyatt makes three Dutch hires
NETHERLANDS – Watson Wyatt has hired three new staff for its “rapidly expanding” investment consulting team in the Netherlands.
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Dutch hedge fund concern correct – IMF chief
UK – The head of financial market stability at the International Monetary Fund said the Dutch financial regulator AFM “was not wrong” to be concerned about the lack of transparency in hedge funds.
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Dutch OPF critical of pension governance plan
NETHERLANDS – The OPF, the Foundation of Company Pension Funds, has expressed criticism of the proposed structure for Dutch pension fund governance.
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UK miners’ schemes in governance move
UK – The Mineworkers’ Pension Scheme and British Coal Staff Superannuation Scheme have beefed up their governance framework via the web – a growing trend due to stringent regulations.
