AUSTRALIA - Mercer Global Investments (MGI) has appointed Peter McPhee as head of distribution for MGI in Australia. McPhee will be responsible for all aspects of the company's sales and client service activities, but will focus on developing additional distribution channels in the retail market. He has spent over 20 years in the financial services industry, covering both retail and institutional funds management markets having worked in a variety of business development roles. McPhee joined Mercer in early November and is based in Sydney.
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.