GLOBAL - Allianz Dresdner Asset Management has reaffirmed its commitment to building a robust single hedge fund platform with a senior hire.
Scott Nelson joins ADAM as executive vice president and head of the newly formed single manager hedge fund group, where he will lead business development, product development and investor relations.
Prior to joining ADAM, he held a similar position with American Express Asset Management where he also built an institutional hedge fund platforms.
Commenting on his appointment, Nelson said: The opportunity to build a hedge fund business with the resources of Allianz and the talent and proven asset management capabilities within each of the five distinct investment platforms is unique and exciting.
The group will partner with each of the equity investment platforms within the Allianz umbrella - PIMCO Equity Advisors, Nicholas Applegate, Dresdner RCM, Oppenheimer Capital, and NFJ - and will market existing products and build on ADAM’s family of single strategy hedge fund products.
This move complements the earlier launch of Allianz Hedge Fund Partners, a fund of hedge fund platform headed by Madhav Misra.
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.