SWITZERLAND - AXA Private Equity has opened an office in Zurich to strengthen its international presence and links with Switzerland-based AXA Wintherthur.
The office, managed by Martin Kessi, would oversee AXA Winterthur's existing portfolio of private equity investors, as well as provide additional services and customised products for Swiss private banks or family offices.
The company said it planned to operate in the secondary deals market in private equity portfolios held by large institutional investors.
This opening should allow AXA Private Equity to develop relationships with Swiss financial players.
AXA said it planned to build upon initial successes with private bank clients and the management of private equity investment mandates for family offices.
AXA Private Equity has offices in across Europe as well as New York and Singapore.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.