UK - Kevin O'Neill and Samina Vernon have joined State Street Global Markets as vice presidents in the transition management team, the firm said today.

FRANCE - Investment returns at the Fonds de Réserve pour les Retraites (FRR) are up 12.8% since the start of the year helping to bring its total assets to €31.9bn (US$47.2bn), the pension fund said.

UK - Pension scheme liabilities could hit £1.2trn (US$1.7bn) by the end of December as a result of a sharp decrease in AA corporate bond yields, Xafinity Consulting warned.

US - The California Public Employees' Retirement System is striking back at a media report suggesting staff and trustees increased its exposure to private equity despite warnings from its consultant.

GLOBAL - Pension funds in emerging market countries have outpaced those in developed countries as they recover from the financial crisis, a report by the Organisation for Economic Co-Operation and Development found (OECD).

IRELAND - Public sector pension liabilities will drain €157bn (US$235bn) from the Irish economy over the next 50 years, a report has warned.

US - Ronald Logue will retire from his position as State Street's chairman and chief executive next year and will be replaced by president and chief operating officer Jay Hooley.

AUSTRALIA - The Investment and Financial Services Association has called for stricter liquidity standards for investments held in superannuation funds.

EUROPE - Crédit Agricole S.A. and Société Générale today announced their new merged asset management firm will be called Amundi.

GLOBAL - The International Accounting Standards Board (IASB) today voted to not move forward with plans to eliminate the use of government bonds to determine discount rates.