INCLUDING - ASIA - New Co-Head of Asia Pacific Distribution for Credit Suisse, TURKEY - Fortis launches in Turkey, EUROPE - Crowe leaves BNY Mellon, UK - Watson Wyatt appointments; UK - New sales director at Aon
ASIA - New Co-Head of Asia Pacific Distribution for Credit Suisse
Credit Suisse has appointed Rami Hayek as Asia Pacific co-head of distribution, from Deutsche Bank Private Wealth Management. Hayek will report to JC Perrig, head of distribution for asset management, and Anthony Iliya, executive vice chairman of asset management for Asia Pacific, and will be based in Hong Kong.
TURKEY – Fortis launches in Turkey
The Capital Markets Board (CMB) of Turkey has approved the launch of the first capital-protected mutual funds in Turkey. This has resulted in significant changes in Turkish mutual fund legislation, according to Fortis Portföy which is launching two structured funds today. To date, local investors have been limited to traditional asset classes; money market, fixed income and equities. The new funds now offered new diversification possibilities, while preserving the investors’ initial capital.
EUROPE – Crowe leaves BNY Mellon
Santander’s Alternative Investment Group has appointed Camilla Crowe as vice president of consultant relations, based in London, to focus on marketing funds to consultants and pension funds in the UK and Europe. Crowe joined from BNY Mellon Asset Management in London, where she was an associate director of European consultant relations.
UK - Watson Wyatt appointments
Watson Wyatt has appointed Stephanie Dean and Denis Musiyichuk to its manager research team. Dean, joined from the Financial Services Authority where she most recently supervised hedge fund firms, at Watson Wyatt she would be responsible for manager operational due diligence as a senior manager research consultant based in London. Musiyichuk, who joins from bfinance where he was an investment analyst, would focus on quantitative research as a manager research consultant based in Reigate. Furthermore, Craig Baker, global head of manager research, would take a three-month sabbatical from January 2008, having worked at Watson Wyatt for over 13 years.
UK - New sales director at Aon
Aon Consulting has appointed Colin Hamilton as sales director for Pensions Administration. Hamilton joined from Capita Hartshead, where he was responsible for the development of new business among large UK private sector pension schemes.
Businesses are experiencing auto-enrolment data error rates of up to 50%, posing questions over the reliability of pension records, Pensionsync says.
A nationwide survey of committee and local pension board members of the Local Government Pension Scheme has revealed high levels of confidence in all areas of their responsibility.
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.