CANADA - bfinance has opened an office in Toronto, under the leadership of Peter Wright.
bfinance, which specialises in the search and evaluation of investment managers for Canadian and European institutional investors, opened its first Canadian office in 2005 in Montreal.
In the last year bfinance has conducted 80 searches representing assets under management of C$18bn (US$19.7bn) of which C$3bn was for Canadian clients.
Peter Wright, who is leading the office, has previously worked for YMG Capital, Flemings, Merrill Lynch, Bankers Trust International and CIBC.
Marc Godin, bfinance's managing director for Canada, said: "Canadian institutional investors are among the most sophisticated in the world. Wright’s knowledge of the needs of these institutional investors in Ontario is a great addition to our team."
David Vafai, chief executive of bfinance International, added: "bfinance is committed to becoming the leading international manager search consultant in Canada where over 70% of manager searches by large Canadian plan sponsors are conducted with the assistance of a consultant.”
bfinance's Canadian pension plan clients include Torstar Corporation, Concordia University, as well as Desjardins Pension Plan.
bfinance also has offices in London, Montreal, Munich, Paris and Toronto.
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.