Regions

WestAM, the global institutional asset management firm, has appointed former Australian ambassador to the US, Don Russell, as head of business development in Sydney.

The European Commission (EC) has given the go-ahead for the take over of Dresdner Bank by Allianz, the insurance group, in Germany.

More than 40% of employees of UK businesses are likely to take out a stakeholder pension if offered access to one by their employer, according research by Barclays and Legal & General.

Aon Consulting is to launch its own manager-of-managers investment product, aimed at its existing pension fund clients.

Deutsche Bank is to retain trusteeship for global engineering firm Fluor Corporation's defined contribution and defined benefit schemes.

Schroder Pensions has been chosen to implement Bradford & Bingley's new group pension plan - a contributory stakeholder scheme.

The City of Wichita's Pension Management Office (PMO) has selected Intrust Bank to provide its deferred compensation plan with administration, recordkeeping and education services, as well as investment products.

Old Mutual has appointed Scott Powers as its new chief executive officer (CEO) for its US asset management business.

Canada's $2.5bn (US$1.62bn) Public Sector Pension Investment Board (PSP Investments) lost C$227m (US$147m) last year, returning -4.1% in its first year of existence.

The $1.7bn Chicago Laborers' Annuity & Benefit Fund has dropped ABN Amro and Weiss Peck & Greer from its US large cap growth mandates, and given the money to existing index manager, Northern Trust.