Global

Pimco Europe has been appointed by three major Danish pension funds to manage a total of EUR196.7m (£118m) in high yield bond portfolios.

Don Steinbrugge, head of institutional sales at Merrill Lynch Asset Management in the US, announced he is leaving the company after six years to join a hedge fund.

‘One size does not fit all' when it comes to operational risk, according to the chairman of the UK's Financial Services Authority Howard Davies.

The CHF36bn Swiss Pensionskasse des Bundes is to retain all of its 16 current investment managers following an asset/liability modelling (ALM) study of the entire fund.

Global consultants William M Mercer has appointed Clive Wright as European partner and client manager, based in London.

International financial solutions provider Brown Brothers Harriman (BBH) has bagged a US$1bn global subcustodian mandate from rivals Northern Trust.

Pooled fund manager Orbitex Investments is challenging its competitors to adopt the Information Ratio risk measurement index and to increase industry transparency.

The $12bn (£8.3bn) Indiana Public Employees' Retirement Fund (PERF) has hired Strategic Investment Solutions (SIS) as its new alternative investment consultant and is looking to make private equity investments in the first quarter of 2002.

Baring Asset Management is set to harmonise its pan-European equity platform with the appointment of Jan Mantel as head of the new UK and Europe investment team.

Complaints to the UK's Occupational Pensions Advisory Service have soared to record levels.