GLOBAL - Barclays Global Investors has denied claims that its decision to drop plans to outsource its back-office administration was influenced because of a possible takeover.
A BGI spokesman said: “The decision not to go forward was made simply because there would not be sufficient benefits for our clients.”
Last month it was reported that US bank Mellon was considering a £1.4bn offer for BGI.
French insurer Axa and Germany’s Allianz were also believed to be tabling offers.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.