INCLUDING: AUSTRALIA - Russell Investment new appointments; UK - Watson Wyatt wins Emirates custody; UK - Hewitt welcomes new appointment; LUXEMBOURG - Citi to service new Luxembourg State Pension Fund
AUSTRALIA – Russell Investment new appointments
Russell Investment Group (RIG) has announced two new senior appointments, completing the international development team. Ty Thurgood has been appointed senior business development manager and Katrina Turner has taken up the post of head of strategic communications.
UK – Watson Wyatt wins Emirates custody
Watson Wyatt has been appointed to provide pensions administration and accounting services to the Emirates Group Provident, the pension scheme of Emirates Airlines.
The tender was won in an open competition and will oversee the retirement provisions of the schemes' 3500 members.
UK – Hewitt welcomes new appointment
Zuhair Mohammed has been appointed to Hewitt Associates UK investment consulting team. He brings 20 years experience in the pension and investment industry, having worked as head of consulting at P-Solve.
LUXEMBOURG – Citi to service new Luxembourg State Pension Fund
Citi announced it has gone live with its global custody, fund accounting and fund aministration service for Luxembourg’s Fonds de compensation de la sécurité sociale (FCSS) and part of the assets have been migrated successfully.
The FCSS is a public institution, created for the administration of general pension assets.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.