UK - Northern Trust's European manager-of-managers business has won over 18 new pension fund clients with mandates worth in total more than £400m since January 2003.
New clients include three UK pension schemes, the Timet UK pension with a mandate worth £50m, the West Bromwich Building Society Staff Retirement Benefit Scheme (£20m) and the Birmingham International Airport Pension Scheme (£12m).
NT’s manager-of-manager business has also grown through five new strategic partnerships. NT’s total assets under management in manager-of-managers portfolios in Europe is now worth over £1.5bn.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers