EUROPE - T. Rowe Price and Lane Clark & Peacock (LCP) have both announced expansion plans across Europe.
Andrew Marks, regional head for southern Europe, T. Rowe Price, said: "Spain is important for the global growth of T. Rowe Price. The institutional marketplace is developing and opportunities exist for groups with our credentials to partner with local players and provide the retail community with access to quality investment solutions."
LCP has merged with Dublin-based HLD Actuarial Consultants (HLD) to create Lane Clark & Peacock Ireland. The company said the deal, only a month after opening offices in the Netherlands, was an integral part of its expansion strategy.
David Lane, partner, LCO, said: "Establishing an LCP business in Ireland is an important part of our European expansion programme. There are major business opportunities in Ireland following the Irish government's recent launch of the Pension's Green Paper."
The newly formed subsidiary has retained HLD's former directors Martin Haugh, John Lynch and Conor Daly, to lead the company and has also appointed Declan Lavelle. LCP said the similarities between Irish and British pension systems made the firm well placed to establish itself in the Irish market.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.