US - Morgan Stanley has lost the head of its European Pensions Group after Alan Rubenstein left the company to join Lehman Brothers.
Rubenstein will now take up the position of MD and European head of the Pensions Advisory Group, where he will be responsible for consolidating the Lehman Brothers’ existing pension expertise into one group and further growing the platform in Europe.
He will report to Philip Lynch, head of global finance for Europe, and Philippe Dufournier, head of structured solutions group, Europe. The firm’s pension advisory work is currently conducted by individuals across investment banking, equities and fixed income.
Rubenstein was head of the European Pensions Group at Morgan Stanley for eight years.
Canada Life has signed a £351m bulk annuity contract insuring the pensioner liabilities of 2,510 members and dependents in the AA UK Pension Scheme.
In this week's Pensions Buzz, we want to know if you believe there is ever a case for combining retirement savings products with other savings products, and if the PPF levy for sponsorless schemes is appropriate for DB consolidators.
The Insolvency Service has disqualified four directors of trustee firms from running companies for a total of 34 years following an investigation.