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 secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.