United Kingdom

UK - Scottish Widows Investment Partnership (SWIP) CEO Chris Phillips is to take up the same role at Morley Fund Management in the summer.

UK - The Pensions Regulator has for the first time used its muscle to ban a chairman from acting as a trustee of any pension scheme.

UK - Bedfordshire County Council Pension Fund has appointed JP Morgan Asset Management to manage a £20m currency mandate.

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.

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.

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

UK - British Airways Pension Fund (BAPF) and Tesco have announced a 50/50 joint property venture worth £445m.

UK - FTSE Group has launched the FTSE EPRA/NAREIT UK REIT index in response to the introduction of REIT legislation into the UK on January 1.