INCLUDING: UK - Punter Southall recruits principal; UK - Orchard buys property for pension fund; AUSTRALIA - Vanguard announces management restructure; UK - C&W looks at options for pension funds; GLOBAL - State Street appoints European portfolio solutions head
UK – Punter Southall recruits principal
Consulting acturial firm Punter Southall has announced Mary McGrath is to join the firm in January 2008 as principal and head of marketing and business development, a new senior role within the firm. Reporting to John Batting, chief executive of Punter Southall, McGrath will help develop the firm’s strategy and oversee business development and marketing activities across the country. She joins from Lane Clark & Peacock.
UK – Orchard buys property for pension fund
Specialist commercial property investment manager Orchard Street Investment Management LLP has bought a £50m property in Manchester on behalf of a UK pension fund client. Orchard, whose clients include the UK Railway Pensions Trustee Company, has agreed a funding and purchase agreement with Wilson Bowden Developments for Belvedere House in Manchester on behalf of the undisclosed client. Belvedere House is a 103,000 sq ft office building expected to be completed in October 2008.
AUSTRALIA – Vanguard announces management restructure
Vanguard Investments Australia has announced a restructure and expansion of its senior management team as part of its plans to prepare for further growth in Australia and Asia-Pacific. Jeremy Duffield has been promoted to manager director of Vanguard Asia-Pacific and will focus on regional management developing the firm’s presence. He will also maintain overall responsibilities for Vanguard’s Australian and Asia-Pacific operations. Ian Alcock, currently head of institutional business, will take on the role of head of Australia. In addition, Chris Stephens has been appointed head of IT.
UK – C&W looks at options for pension funds
Cable & Wireless (C&W) has said it does not have any imminent plans to demerge its two units or sell of its pension funds, but will consider all options, according to a Reuters report. Speaking after strong first-half results, C&W’s finance director Tony Rice reportedly said the firm was looking at various options and, while it didn’t expect anything to happen it the near future, it was scanning the market to see what was out there and what could be done.
GLOBAL – State Street appoints European portfolio solutions head
State Street Global Markets has appointed David Goodman to head of European portfolio solutions with responsibility for the Europe, Middle East and Africa (EMEA) markets. In this new role, Goodman will be responsible for all of State Street’s trading and research products provided to the asset owner marketplace. This includes State Street Global Markets’ portfolio and risk management products such as futures and currency overlay, State Street Associate’s portfolio and risk management research and transition management for the EMEA region.
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