Including: UK - BlackRock's new appointment; UK - Cordea Savills acquires halls; CANADA - S&P study; UK - Technology helps trustees
UK – BlackRock’s new appointment
BlackRock has appointed Rosina Humphries to its global consultant relations team. She will be responsible for managing relations with a number of UK investment consultants.
UK - Cordea Savills acquires halls
Cordea Savills, a European property fund manager, has acquired four UK student halls with a conditional agreement on two more. The halls were purchased through the Cordea Savills Student Hall Fund, a fund for institutional investors, which offers both growth and revenue and a target return of above 10% a year.
CANADA - S&P study
After a study of Canada’s Caisse de Dépôt et placement du Québec, and the current state of the commercial paper market, Standard & Poor’s has upheld both the company’s short term and long term credit ratings. These remain at A-1+ and AAA respectively. Despite the current liquidity crisis, S&P concluded the Caisse has enough liquid assets to meet requirements.
UK – Technology helps trustees
A survey has shown 93% of pensions workers and trustees feel their workloads will increase dramatically over the coming years. However, 90% of respondents also felt the effective use of technology could help to improve standards of governance.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.