US - The executive director of the US$4.7bn New Hampshire Retirement System (NHRS), Constance A. Donovan, has announced her resignation.
Dr. Shapiro, said: "I want to assure NHRS members, legislators, and all stakeholders that the Board and staff remain committed to implementing best practices to ensure the long term viability of the system to provide secure, life-long pension benefits to public employees of our state."
Over the past few months, the NHRS has undergone changes in governance, policy and operational areas, including increased trustee education and the implementation of the recently passed pension reform legislation (www.globalpensions.com; 14 March 2008 ).
A new executive level position of director of investments was established as part of these reforms. Richard Shafer, former CIO odf the Alaska Permanent Fund has been appointed to the role and commences on 15 September.
Shapiro said: "[The NHRS] is very pleased that Rick Shafer will be joining us as the new director of investment. He adds significant depth to the staff's investment experience, and will be able to provide strong leadership in the investment area."
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.