INCLUDING: ITALY - bfinance to open Italian office; AUSTRALIA - SCT gets two new members; US - DC plans feature auto enrolment; UK - Watson Wyatt appointments
Consulting firm bfinance is to open an office in Milan before the end of 2008, as a base to focus its business activities in the Italian market.
The investment management selection business servicing institutional investors in Italy will continue to be managed by Ottavia Sebastiani, director, business development, while newly appointed Daniela Zatti, also director, business development, will be responsible for helping to develop bfinance's commercial bank relationship advisory and cash management optimisation businesses.
Zatti joined bfinance from the corporate and investment banking division of Intesa SanPaolo where she was head of cash management sales.
AUSTRALIA - SCT gets two new members
Minister for superannuation and corporate law Nick Sherry has announced the appointment of two new part-time members and the reappointment of 12 part-time members to the Superannuation Complaints Tribunal (SCT).
Michaela Anderson and Brian Lacey have each been appointed as new members for a three-year period. Members of the SCT board, who help to hear complaints, generally come from actuarial, legal, medical and/or superannuation backgrounds.
US - DC plans feature auto enrolment
Automatic enrolment of employees into defined contribution (DC) retirement plans such as 401(k)s has been adopted by a majority of plan sponsors, according to a survey from Mercer.
Slightly more than half (51 percent) of survey respondents are now offering some form of auto enrolment, with another 6% planning to add it in the near future and 18% actively evaluating the feature.
The Mercer survey also shows a dramatic correlation between offering automatic enrolment and plan participation rates. While almost half (45%) of those plans that have automatic enrolment achieve participation rates of 90% or more, only 7% that do not offer it achieve these high rates.
UK - Watson Wyatt appointments
Watson Wyatt Worldwide has made three senior appointments to its UK investment consulting team.
Paul Nevin, previously head of global equity derivatives for the UK, Ireland, Africa at Credit Agricole Investment Bank, has joined the client consulting team as a senior investment consultant.
Richard Burns re-joins Watson Wyatt as a consultant in the firm's client consulting team in Leeds. Previously, he was a deputy fund manager at Brown Shipley.
Simon Ralph, who joins Watson Wyatt's Reigate office as a project manager, was previously a manager at Children's Mutual.
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
Jupiter Asset Management's Abbie Llewellyn-Waters, manager of the Jupiter Global Sustainable Equity strategy, explains why firms need to integrate ESG into their business model