Global

Gissings, the UK employee benefit advisory firms, has been appointed by DuPontSA to provide pension scheme administration and accounting services for a brand new money purchase scheme.

Hermes Focus Asset Management (HFAM) in the UK has forged an alliance with US-based Relational Investors to launch a $1bn fund to invest in underperforming American companies.

Global Investment house SG Asset Management (SGAM) has completed its 51% purchase of US fund manager TWC, making Societe Generale Group (SG) the third largest bank in euroland fund management.

International fund managers Barclays Global Investors (BGI) is to launch its first UK-based hedge fund-of-funds for institutional investors by September.

The $158bn California Public Employees Retirement System (CalPERS) has appointed Rick Hayes as its new senior investment officer (SIO) in charge of the pension fund's alternative investment management (AIM) program.

The $12bn (£8.3bn) Indiana Public Employees' Retirement Fund (PERF) is considering a search for US large cap equity managers, according to the fund's chief investment officer, Pat Gerrick.

The £900m Cambridgeshire County Council Pension Fund has chosen Prudential Portfolio Management as additional voluntary contributions (AVC) provider.

Global asset managers Schroder Investment Management (SIM) has lost its head of UK institutional business, Jim Horsborough.

Global fund managers Dresdner RCM Global Investors has opened an Amsterdam office and appointed two senior sales executives.

Royal & SunAlliance Investments Luxembourg has hired Shamik Cholera as its new Swiss sales manager, retail and institutional funds.