Europe

EUROPE - Kas Bank is planning to open a regional office in Germany in an effort to be closer to its German clients.

UK - Corporate pension schemes and the PPF face an uncertain future as the UK government waits for an ECJ ruling that may force the PPF to pay full benefits to DB scheme members.

UK - The Hampshire County Council pension fund has appointed Northern Trust as its first global custodian.

BELGIUM - The arrival of the institutional SICAV (société d'investissement à capital variable) vehicle in Belgium could see pension funds and asset managers competing directly against one another.

UK - WHSmith Pension Trust has closed its final salary scheme and will be transferring the scheme's active members to a defined contribution plan.

UK - The Port of London Authority Pension Fund (PLAPF) has hired AXA Investment Managers for a £250m fixed income mandate.

ITALY - Italian pension funds failing to create a default option that replicates returns posted by final indemnity funds, whilst offering capital and minimum yield guarantees, may be forced to resort to insurance vehicles.

Bill Muysken, global head of research at Mercer Investment Consulting, is to join hedge fund multi-manager outfit, Thames River Capital.

DENMARK — Industriens Pensionsforsikring has awarded a DKR372m (€50m) Japan Small Cap equities mandate to State Street Global Advisors (SSgA).

EUROPE - Credit Suisse had appointed David Livingstone MD and head of European Mergers & Acquisitions.