United Kingdom

UK - Northern Trust has been awarded the mandate to provide custody services to approximately £65m (US$120m) in UK equity assets managed by Majedie Asset Management for the Sony UK pension fund.

UK - Mercer Human Resource Consulting has been appointed as corporate actuarial adviser to the six pension schemes of HBOS, with total assets of £4.2bn.

UK - AXA Investment Managers has poached Alastair Cuming (pictured), head of the UK equity business stream at Deutsche Asset Management, to head up its UK institutional business.

UK - Manitou UK has appointed Alexander Forbes Financial Services to provide actuarial, administration and consultancy services to its DB pension scheme as it switches from DB to DC.

UK - Almost three quarters of UK companies have no exit strategy for their DB pension scheme despite the fact that the majority of those operating a closed scheme are concerned by the drain on their finances.

UK - AXA Rosenberg Group LLC, has been appointed by the Shropshire County Pension Fund.

UK - The Board of the Pension Protection Fund has assumed responsibility forthe Fraud Compensation Fund, which replaces the Pensions CompensationBoard.

UK -The £22bn Universities Superannuation Scheme(USS) is nearing the completion of an investment review considering the possibility of investing in alternatives.

UK - The Manufacturers' Organisation, EEF, has come out in favour of a Swedish style defined contribution compulsory pension managed by private fund managers.

UK - Russell Investment Group has fired Barclays Global Investors (BGI) from its UK active equity product.