Europe

EUROPE - Dutch industry-wide pension fund giant, asset manager and consultancy, Cordares, is targeting the rapidly developing Italian pensions market as part of its expansion plans, Global Pensions can exclusively reveal.

UK - Wellington Management International has lost a £160m equity mandate with the £3.6bn Merseyside Pension Fund due to performance-related issues.

Merrill Lynch Investment Managers (MLIM) has recruited Tomas Bristedt to its retail wholesale Nordic team, with responsibility for the Nordic region.

EUROPE - Merrill Lynch Investment Managers (MLIM) has recruited Tomas Bristedt to its retail wholesale Nordic team, with responsibility for the Nordic region.

UK - The Association of British Insurers has refuted the claim that Fidelity International's model for personal accounts was a stronger alternative than the one drawn up by the ABI.

UK - Simon Melluish, previously head of US equities at Gartmore, has returned to the firm to take up a new role in the global equities team.

UK - A campaign by employers for a year's delay before making compulsory pension contributions would see over four million workers deprived of a proper pension.

UK - Keith Jones, CEO at Morley Fund Management will resign from his post at year-end, leaving the role open to a new hire.

ITALY - The national pensions expenditure is due to rise by 3.1%, to e148.2bn, by the end of the year.

FINLAND - The State Pensions Fund (VER) posted a return of 0% for the first half of 2006, with assets rising just e100m from year-end 2005.