GERMANY - Aberdeen Asset Management will today announce a push into the German market, after having recruited Hartmut Leser and Gudrun Nagel from local consultants FERI.
Global Pensions can reveal that Leser, who was previously a managing partner in charge of institutional clients at FERI, will be unveiled as Aberdeen’s head of institutional business development in Germany.
Leser will be in charge of the asset manager’s new office, to be situated be in Frankfurt, and will aim to build on the approximately e1bn which Aberdeen currently manages for German pension funds.
Lesser said he believed German pension funds were now looking to invest globally after having traditionally focused on domestic equity and fixed income. He added: “I believe Aberdeen’s independence, experience and long-serving management teams, rigorous investment process and the performance of our products will benefit schemes around Germany."
Martin Gilbert, chief executive officer at Aberdeen, commented: “We’ve long recognised the importance of Germany and of having a local presence there to further develop our German and European client base. The recruitment of Hartmut and team, taken together with the highly regarded fixed income team we acquired from Deutsche and our rapidly expanding property division, mean we are now well positioned to enter Germany’s highly competitive, institutional market place. We already have a number of important German clients and we hope to grow this list going forward.”
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.