INCLUDING: EUROPE - Mercer appoints leaders; CANADA - Ontario Teachers' Pension Plan acquires Chilean company; FRANCE - Fortis Investments' second quarter results; AUSTRALIA - Russell boosts institutional sales team; US - CalPERS develops pension technology platform; UK - Threadneedle expands hedge fund and emerging markets business
EUROPE – Mercer appoints leaders
Mercer Human Resource Consulting has appointed Zillah Bingley, Romain Bureau and Konrad Deiters to lead the expansion of its mergers and acquisitions consulting business in the UK, France and Germany, respectively.
CANADA – Ontario Teachers’ Pension Plan acquires Chilean company
The Ontario Teachers’ Pension Plan (Teachers’) has agreed to acquire up to 100 % of Esval S.A., a public water and waste company in Central Chile.
The purchase will be Teachers’ second investment in the Chilean water sector and in South American infrastructure.
FRANCE – Fortis Investments’ second quarter results
Fortis Investments recorded a net profit of €31m in the second quarter, a 7% quarter-on-quarter improvement leading to a net result of €60m for the first half of 2007.
The company said the result was 22% higher than in the same period last year and was driven by the continued generation of net inflows and underlying positive equity markets.
AUSTRALIA – Russell boosts institutional sales team
Russell Investment Group has made two new senior appointments to its institutional sales team.
It means Paul Taylor has been appointed business development manager, reporting to Chris Briant, director of institutional sales.
Meanwhile, Laird Abernethy joins Russell in the role of business development manager.
US – CalPERS develops pension technology platform
The California Public Employees’ Retirement System (CalPERS) has appointed Terry Bridges as the project manager for the development of the pension fund’s consolidated pension information system.
Bridges has more than 28 years experience in the technology field and will lead a team of more than 250 technology professionals to develop the system.
UK – Threadneedle expands hedge fund and emerging markets business
Threadneedle has acquired Convivo Capital Management Limited (Convivo), a specialist emerging market hedge fund business.
Convivo manages assets of US$ 476m in two strategies, which Threadneedle will acquire, subject to regulatory approval.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.