Global

Global financial services group Northern Trust has snatched a CH7bn (EUR4.6bn) custody mandate at the pension fund for food giant Nestle from Geneva-based Pictet.

New York-based investment managers John A. Levin & Co - which specialises in US equity value and alternative investments - has launched a new alternative investments unit, The AltVantage Group, headed by Steve Eckenberger.

Nomura Securities has reached the second last stage of its plans to withdraw from the Japan Securities Dealers Employees Pension Fund following clearance from the securities industry's fund.

Small and medium-sized pension schemes are being wooed by Dutch-based custodian Kas-Associatie.

Credit Suisse Asset Management (CSAM) is set to launch a new hedge fund based on its existing currency options strategy.

In contrast to the previous two quarters, equities generally produced positive returns in the second quarter of 2001, according to the CAPS pooled pension fund survey.

Hermes Pensions Management UK, the wholly-owned investment management subsidiary of BT Pension Scheme, has announced that Alastair Ross Goobey will step down as chief executive to be replaced by Tony Watson, with effect from January 2002. Tony Watson...

Credit Suisse Asset Management (CSAM) has appointed Beth Dater to oversee the new position of in-house hedge fund development.

CalSTRS, the giant $105bn California State Teachers' Retirement System, will select an executive search firm by the end of the month to assist them with finding a replacement for outgoing chief executive James Mosman.

Mellon Financial Corporation has reported second quarter 2001 pre-tax operating earnings of $191m (or 40 cents per share), a 5% increase compared with 38 cents per share reported in the second quarter of 2000.