INCLUDING: UK- Hymans Robertson announces results; US - State Street in Trilogy deal; UK - Friends Provident and Resolution discussions; UK - New KPMG mortality data; UK - Ealing appoints global transition manager
UK – Hymans Robertson announces results
Turnover at Hymans Robertson increased by 10% to £33.5m, according to the company’s results up until 31 March 2007. Profits also increased to £5.4m.
The firm said strong growth in corporate consulting provided 12% of the total revenue.
US – State Street in Trilogy deal.
State Street Corporation has been appointed to provide custody, transfer, and agency and trustee services for Trilogy Global Advisors.
Trilogy Global Advisors has approximately £13bn in assets under management, as of 31 May 2007.
UK – Friends Provident and Resolution discussions
Friends Provident and Resolution have confirmed they are in advanced discussions regarding a possible merger of the two businesses.
Both companies said a merger would create significant value for both sets of shareholders by combining Friends Provident’s new business growth opportunities with Resolution’s strong cash flow generation.
UK – A survey of almost 200 companies by KPMG has reportedly found that wide ranges persist in mortality assumptions used to calculate fund liabilities.
The survey reportedly said the average UK pension scheme member at the end of 2006 was approximately one year higher than a year earlier and two years higher than at the end of 2004.
UK - The London Borough of Ealing has appinted BNY ConvergEx Group, LLC, as a transition manager for assets totalling £550 million.
The appointment came after the London pension scheme replaced two balanced mandates with three specialist mandates for both equity and fixed income following a review of all managers.
Here it is... The video of all the highlights from last night's UK Pensions Awards.
Here they are...all the pictures from the UK Pensions Awards 2019.
This week's top stories included The Pensions Regulator criticising Sir Philip Green's latest plans for the Arcadia pension schemes.
The trustees of the beleaguered industry-wide Plumbing and Mechanical Services (UK) Industry Pension Scheme have confirmed it will close to accrual in June.