INCLUDING - SWITZERLAND - New CEO for Credit Suisse AM, SWEDEN - AP4, FRANCE - BNP Paribas buys IMS
Credit Suisse has named Rob Sharif as CEO of its asset management division.
Sharif is to replace David Blumer who has moved to Swiss Re.
Along with the new role, Sharif will retain his role as CEO of Americas region and executive board member.
SWEDEN - AP4
AP4's consortium has failed in its bid for Swedish drinks company V&S.
The fourth buffer fund announced it had joined a group led by private equity company EQT to take control of the state owned firm.
French drinks giant Pernod Ricard took the company in a deal which could net the Swedish government around €6bn.
FRANCE - BNP Paribas buys IMS
BNP Paribas Investment Partners (BNPP IP) has bought IMS Group, a multi-manager with £5.1bn in assets under management.
IMS would join the company under the FundQuest brand. Founders Richard Timberlake and Peter O'Connor would retain their position as IMS directors.
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
There have now been a total of 47 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...
It may be time to create variations of limited liability, but each alternative has its own problems, Con Keating argues.