GLOBAL - Jones Lang Lasalle reported revenues of US$1.39bn for the full year 2005, up 19% from the year before aided by growth in all operating segments. The real estate services and money management firm reported a net income increase of 61%, rising from $64m in 2004 to $104m. For the fourth quarter of 2005, net income was $67m, compared to $50m for the same period in 2004.
Operating income for the year was $132m compared with $90m for 2004, representing an increase of 47%.
Operating expenses were $413m for the fourth quarter of 2005 compared with $353m Q4 2004.
Colin Dyer, JLL chief executive said he was “extremely pleased” with the results.
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.