INCLUDING: Netherlands - ING IM Europe CIO announced; UK - Pearl Group appoints CEO; CYPRUS - Hewitt boosts Cyprus team
ING intends to appoint Jan Straatman as chief investment officer of ING Investment
Management Europe. Straatman, currently CEO/CIO of Pearl-Axial Investments, will lead the investment departments of ING Investment Management Europe in further achieving its ambition of becoming a top-tier asset manager. Subject to regulatory approval, he takes over the CIO position from Maes van Lanschot, who has been appointed as head of credit capitals at ING Group.
UK - Pearl Group appoints CEO
Pearl Group has appointed Gavin Stewart to the role of chief executive of its enlarged asset management business, after it gained approval for its acquisition of Resolution. Stewart, currently CEO of Resolution Asset Management (RAM), will have responsibility for RAM and Axial Investment Management. He will combine the complementary skills of Axial and RAM, including Axial's capabilities in asset liability work, to create an independently capitalised asset management business with funds under management of around £80bn.
CYPRUS - Hewitt boosts Cyprus team
Hewitt Associates has appointed Pantelis Argyrou to its pensions consulting team in Cyprus. Pantelis, who will be based in Hewitt's Nicosia office, joins from Towers Perrin. Most recently, he worked in its international practice in London, leading client teams consulting with a number of multinational clients and managing several multiple country projects. Prior to this, he spent five years working with the UK Government Actuary's Department in social security work for governments around the world, as well as pensions related work for UK local authorities.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.