Global

Merrill Lynch Investment Managers (MLIM) has given responsibility for its Los Angeles operations to James MacMillan and his team in London.

The OECD, the Organisation for Economic co-operation and Development, has told Spain that it must reform its pensions system to prepare for the consequences of population ageing, although the economic situation is still favourable.

An ongoing review of corporate governance and economic legal infrastructure issues are essential as Singapore moves into the 21st century, said Peter Chen, senior minister of State for trade, industry and education.

State Street has been appointed by ABP, the giant Dutch pension fund, to provide custodial and global securities lending services for ABP's US and Japanese assets, worth a total of US$21bn.

Edinburgh Fund Managers has appointed Alan Murray as a derivative fund manager.

Custodian KAS Associatie is targeting small and medium-sized UK pension funds in the first stage of its European expansion plans.

Deutsche Bank has launched a new emerging markets bond index, the Emerging Markets Liquid Eurobond Euro Index (EMLE Euro Index).

SEB Invest, the fund management arm of Swedish financial services group SEB, has shortlisted 3 candidates for briefs worth up to SKr12bn (EUR1.3bn) following the closure of the firm's Hong Kong and Tokyo offices.

Bill Price and William Thompson have been appointed as the first heads of investment at Allianz Dresdner Asset Management (ADAM), the new firm created by the merger of Allianz and Dresdner. The positions will be based in California.

Wisconsin's Supreme Court has dismissed a lawsuit brought about by unions, that sought to overturn a law that will increase pension payments for members of the $62bn Wisconsin Retirement System (WRS).