Including: UK - Postal agreement; ITALY - New manager for New Star; UK - Pictet announces new CMO
UK – Postal agreement
The Royal Mail and the Communications Worker’s Union (CWU) have reached a tentative agreement regarding the future of its defined benefit (DB) scheme.
A release from the CWU has confirmed the scheme will be closed to new entrants, pending ratification by union members. The rights of existing scheme members are understood not be affected.
ITALY – New manager for New Star
Arcangelo Barletta has been appointed country manager for New Star International.
Based in Milan, Barletta will be responsible fro the development of relationships in the Italian institutional investment market.
UK – Pictet announces new CMO
Pictet Asset Management (PAM) has named Simon Males as its new chief marketing officer of UK institutional business.
Males would be responsible for targeting UK institutional investors and consultants and worked for F&C Management for 13 years, most recently as director and head of consultant sales.
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This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.