INCLUDING: CANADA - Head of active equity investment team appointed; UK - JPMorgan named custodian for ICI fund; UK - New oil ETCs to be launched; SWITZERLAND - Credit Suisse Group announces Q2 results.
CANADA – Head of active equity investment team appointed
State Street Global Advisors (SSgA) has appointed Dawn Jia to head of the active and enhanced equity team for its business in Canada. She will report to Peter Lindley, head of investments at SSgA in Canada.
UK – JPMorgan named custodian of ICI fund
JPMorgan Worldwide Securities Services has been appointed custodian for the ICI Speciality Chemicals Pension Fund.
In addition to custody, JPMorgan will also provide investment accounting services to the £400m fund.
UK – New oil ETCs to be launched
ETF Securities has revealed it will list six new oil Exchange Traded Commodities (ETCs) on the London Stock Exchange for the first time.
This will allow investors to gain direct exposure to one, two and three year oil futures prices in Brent and WTI oil benchmarks.
SWITZERLAND – Credit Suisse Group announces Q2 results
Credit Suisse Group has reported net income of CHF3.2bn for the second quarter of 2007. The group said income from continuing operations increased 70% from the same period a year earlier.
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.