UK - State Street Global Advisors has been awarded a £850m multi-asset passive mandate from Royal Liver, the life assurance company.
State Street Corporation was also awarded a £3bn transition role.
Both mandates are a result of Royal Liver outsourcing its fund management activities.
Commenting on the win, Ian Longley, treasury manager at Royal Liver, said that State Street had been selected because of its “considerable experience” in both passive- and transition management.
The move was assisted by Watson Wyatt.
Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Financial Conduct Authority (FCA) has launched a consultation on how to enable defined contribution (DC) savers to invest in patient capital via unit-linked funds.
The Pension Protection Fund has published its final levy rules for 2019/20 following a consultation launched in September.
The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.