INCLUDING:UK - Barings announces new appointments; UK - Tories to announce pension ‘life-boat'; UK - Pensions First announces position; UK - First Actuarial training; UK - Aberdeen handed £130m mandate
UK - Barings announces new appointments
Barings Asset Management (Barings) has announced Marino Valensise has been appointed as chief investment officer. His previous position as head of fixed income and currency has been filled by Alan Wilde.
Valensise has over 20 years experience in the investment sector and has replaced Michael Hughes, due to retire at the end of the year. Wilde was previously deputy head of fixed income.
UK - Tories to announce pension ‘life-boat’
The Conservative Party is expected to announce the creation of a Pensions Life-boat to compensate pensioners who lost their funds since 1997. The scheme will be in place within three months of the Conservatives taking office and would cover the 125,000 UK pensioners left without pension schemes or compensation since 1997.
UK – Pensions First announces position
Amelia Fawcett, former vice chairman of Morgan Stanley’s European operations and non-executive director of the Court of the Bank of England, has joined the newly formed liability management firm, Pensions First.
Pensions First gained approval from the UK’s Financial Services Authority last month and is expected to launch by the end of the year.
UK - First Actuarial training
First Actuarial has announced a re-run of its one-day ‘Introduction to Trusteeship’ training course in November. The course will give trustees an overview of the latest legislation and the legal, financial and investment issues surrounding the sector.
It follows a course earlier in September and will take place on 15 November at the White Hall Hotel, London.
UK - Aberdeen handed £130m mandate
GM Investment Trustees Ltd has appointed Aberdeen Property Investors to manage £130m (US$260m) of its UK property pension investment assets.
This award would see Aberdeen handle commercial property in its first mandate win since the re-establishment of its UK property operation in June 2007.
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.