Global

SA financial services group Women Investment Portfolio Holdings (Wiphold) has acquired retiring New Africa Investments (Nail) CEO Dikgang Moseneke's 25% stake in Phaphama, Nail's holding company, for R35m ($4.2m).

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.

The National Federation of Fish Friers (NFFF) has chosen Friends Provident to serve up its stakeholder scheme.

DGZ Deka Bank subsidiaries Deka Deutsche Kapitalanlagegesellschaft and Deka Investment Management (DIM) in Germany are to merge to form a new investment management company.

Zurich Financial Services has appointed Rodney Cook as the first customer solutions director for its UK life business.

Credit Suisse First Boston CSFB has appointed Stephen Volk as its new vice chairman, following last week's arrival of John Mack as chief executive officer, and his restructuring of the business.

Northern Trust was awarded custody of the Equitable Life Assurance Society and University Life Assurance Society's £17bn UK equity and gilt portfolios.

A man mis-sold a pension by his Individual Financial Advisor (IFA) went before the UK High Court this week to see if he will have to hand over the value of his Norwich Union windfall payments if he wants to receive compensation.

Northern Trust Global Investments (NTGI) has been appointed by Thermofil Polymers Pension Scheme to run a £4.7m multi-manager brief.

New York Life Investment Management (NYLIM) has appointed Steven Schneider as senior managing director and chief financial officer.