FINLAND - Jaakko Niemelä, managing director of Mandatum Stockbrokers, is to quit the company this summer to set up his own firm specialising in value definition.
After working in the brokerage business for more than 10 years I thought it was time for me to seek new challenges,” said Niemelä
“Finland lacks a professional company specialised in value definition, and, for example, the IAS requirements will increase the demand for services of this kind.
Mandatum Stockbrokers is a Sampo Group subsidiary. Other Mandatum companies in the Sampo Group are Mandatum Asset Management, Mandatum Private Equity Funds, and Mandatum & Co which providing corporate finance services. In addition, Sampo's private bank also operates under the Mandatum brand.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.