UK - Gartmore has strengthened its global fixed income team with the appointments of Varkki Chacko and Mark Wauton.
Reporting to Roger Bartley, global chief investment officer, fixed income, Chacko and Wauton will focus primarily on the management of a new Gartmore global credit hedge fund.
Prior to Gartmore, Chacko was a managing director at Goldman Sachs, with responsibility for several research and strategy initiatives in both the US and Europe, including global credit strategy. Prior to Goldman Sachs, he spent nearly 10 years with Salomon Brothers in a variety of senior credit research roles.
Wauton joins Gartmore from UBS Global Asset Management where he was a managing director and head of European fixed income with responsibility for approximately US$30bn of assets. Prior to UBS, he was head of fixed income at Commerz International Capital Management, Frankfurt.
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.