Europe

UK - Schemes are awaiting the result of the dispute between computer giant IBM and a former manager of its £4.3bn UK pension plan, a clash which could result in a landmark decision by the pensions ombudsman on the use of fund surpluses.

UK - Calor Gas has hired Aegon and Mirabaud Investment Management to run new mandates for its £240m pension fund.

UK - Royal & SunAlliance (R&SA) Investments has added to its institutional fund management team, with the appointment of Jeremy Thomas as a UK fund manager.

UK - William M Mercer is running a new, basic course in defined contribution pension plans for personnel in human resources, finance and administration.

UK - Linklaters has denied raising an 11th-hour objection to the proposed Equitable Life compromise that could threaten the whole deal, despite reports to the contrary.

ITALY - Plans by the Italian government's to cut employer pension contributions may lead to a shortfall of EUR41bn in the state pension system, says the state pension body, the INPS (Istituto Nazionale della Previdenza Sociale).

UK - Watson Wyatt has appointed Kevin Carter as a senior consultant in its investment practice.

UK - Dutch financial giant ING has poached Igno van Waesberghe to head up its UK operations.

UK - Active manager Gartmore has appointed Frances Davies to head up its global institutional business in a bid to boost growth.

UK - Two shareholder meetings are worthy of note in the week starting January 28, according to corporate governance specialists Institutional Shareholder Services (ISS).