Investment

US -California governor Arnold Schwarzenegger equated the state's rising pension costs to a "locomotive" and pledged to make pension reform a priority in 2010 in his annual State of the State address yesterday.

GLOBAL - TCW's purchase of Metropolitan West Asset Management may be a predictor of things to come as independent firms will drive merger and acquisition activity in 2010, investment bank Jefferies said.

US - Denver-based asset manager Janus Capital Group has hired Richard Weil from rival PIMCO as its chief executive officer.

Denver-based asset manager Janus Capital Group has hired Richard Weil from rival Pimco as its chief executive officer.

The recovery of defined benefit schemes and charity funds in 2009 was spearheaded by a "stellar" performance from risk assets, State Street Corporation says.

Pensions professionals are still underestimating the effect of increased longevity on their schemes, an exclusive Hewitt poll reveals.

UK - Pensions professionals are still underestimating the effect of increased longevity on their schemes, an exclusive Hewitt poll revealed.

EUROPE - Introducing collective defined contribution schemes would not breach European law despite one government citing it as a reason to abandon risk sharing, a lawyer said.

Introducing collective defined contribution schemes would not breach European law despite the government citing it as a reason to abandon risk sharing, a lawyer says.

Tom Stevenson recently retired from his post as Kellogg's pensions manager. Before he left, Sebastian Cheek asked him how the scheme qualified for the NAPF's Pension Quality Mark