UK - Watson Wyatt has recruited two new members for its real estate and hedge fund team in addition to hiring new graduates for its manager research team.
It means Douglas Crawshaw will join the firm’s real estate team, headed by Steven Grahame.
Crawshaw has more than ten years investment experience and was recently a portfolio manager at Morley Fund Management.
Meanwhile, the firm appointed David Gold as a New York-based manager research consultant to research hedge fund managers.
Watson Wyatt has also hired five new graduates into the manager research team which now comprises over 95 associates and is headed globally by Craig Baker.
In 2006, UK pension funds advised by Watson Wyatt Investment Consulting awarded around 60% more real estate mandates than the previous year, with a significant shift away from UK property which only accounted for 44% of mandates, down from 93% in 2005.
In a separate development, Global Pensions recently reported that executives responsible for investing company final salary pension schemes still favour return seeking assets over liability matching, according to a Watson Wyatt report.
Despite recent jolts in the market, a 40% portfolio exposure to equities, property, hedge funds and private equity was the most popular investment allocation among those surveyed.
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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.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point