EUROPE/ASIA - Nigel Williams, CEO of Europe and Asia ex-Japan at Barclays Global Investors' (BGI), has announced his retirement - effective mid-2007 - after 14 years with the firm.
He will be replaced by David Semaya, currently president and CEO of BGI Japan Trust and Banking. BGI said Williams would actively assist Semaya in achieving an orderly transition of responsibilities next year. Semaya will officially begin the new role in April.
Ross Hikida, currently CIO for BGI Japan, will take up Semaya's old position in early 2007.
From a strategic perspective, Blake Grossman, CEO of Barclays Global Investors, said the firm would continue to expand its resources and talent base going forward.
We see fixed income strategies, including those tailored around pension fund liabilities, alternatives, and exchange-traded funds as key areas for investment innovation and growth in 2007, said Grossman.
The Pensions and Lifetime Savings Association (PLSA) has revamped the standards for its Pension Quality Mark (PQM) in a bid to raise the quality of single-employer defined contribution schemes.
People approaching retirement are "systematically misjudging" their longevity and undervaluing annuities, the Institute for Fiscal Studies (IFS) says.
Professional Pensions is holding a breakfast briefing on engaging defined contribution (DC) members on 7 February.
Panellists at a PP webinar discuss October's High Court judgment on GMP equalisation, how schemes have responded, what their strategies should be, and how the industry can approach it.