Europe

UK - SEI Investments has appointed Dennis McGonigle to the position of chief financial officer.

UK - The £2.2bn Tyne & Wear Pension Fund has increased its exposure to commercial property with the acquisition of four offices.

UK - Fund managers should overhaul their transaction processes as poor systems waste time and cost schemes money, Gartmore Investment Management claims.

UK - The government is considering ending the 1% cap on stakeholder fees.

UK - Postcomm - the postal regulator - has allowed the Royal Mail to increase the price of stamps in a bid to stem a massive £330m pension deficit.

UK - Old Mutual's Hasan Askari, currently a non-executive director of Old Mutual Financial Services, will become deputy chairman of OMFS.

UK - Pension funds are opposing a takeover by finance company Collins Stewart Holdings because they believe the deal will dilute their shareholdings.

UK - TUC proposals on increasing shareholder voting disclosure will create an extra legislative burden for fund managers and pension scheme trustees, F&C Management claims.

UK - Communication is more important to the success of money purchase plans than contribution levels, Watson Wyatt claims.

UK - Imperial Chemical Industries has disclosed a 60% rise in the FRS17 deficit on its UK pension fund.