EDHEC; Amundi; Corinthian Cove Consulting; Scottish Widows Investment Partnership; Standard Life Investments; Mercer; CalPERS
EDHEC-Risk Institute has recruited six new members - including managers at large pension funds in the US, Canada and the UK - to its international advisory board. New board members include Christopher Ailman (pictured), present chief investment officer (CIO) at California State Teachers' Retirement System holding $138.6bn in assets under management.
Other appointments include managing director James C. Davis, vice president for investment planning and economics asset mix and risk at Ontario Teachers' Pension Plan with C$96.4bn ($94.7bn) in net assets; NEST Corporation's CIO, Mark Fawcett; Tai Tee Chia from Government of Singapore Investment Corporation; Chong Tee Ong, deputy managing director at Monetary Authority of Singapore; and Bruno de Pampelonne, president at Tikehau Investment Management.
Laurent Crosnier has been promoted to chief executive officer (CEO) at Amundi's London branch where he will cover global fixed income, absolute return, currency, emerging debt, global corporate bonds and global equities. He will also resume his current role of CIO which was announced in 2010.
Crosnier was head of inflation, duration and credit at Crédit Agricole Asset Management (CAAM), before becoming head of euro fixed income and credit from 2006 until 2008. He joined CAAM in 1991 and became portfolio manager specialising on euro corporate, before being promoted to head of euro corporate and high yield management.
In his new role, Crosnier will work under deputy CEO Pascal Blanqué who manages the institutional investment division. "With the appointment of Laurent Crosnier we are pursuing our ambition to make London a centre of excellence for the management of all products with a global remit be they credit including government bonds and emerging market debt, or developed market equities. Building on the strong expertise of the London teams, including the new additions to those teams, Laurent will have the skills and resources to effectively drive the business forward," said Blanqué.
Corinthian Cove Consulting has announced Richard Graf and Sheila Warner as partners. Both will work alongside eisting partners John Boneparth and Gail Harris to manage long-only, hedge fund, and private equity managers. Graf retired last year as CEO of Marco Consulting Group and Warner was senior vice president of Callan Associates and executive director of Callan's Center for Investment Training. Graf will be based in Houston and Warner in New York.
Scottish Widows Investment Partnership has recruited Craig Mackenzie as part of a new governance and sustainability team which launches today. Mackenzie - the head of investor responsibility at Insight Investment until 2007 - will hold the position of head of sustainability and will be responsible for the strategy and performance of SWIP's sustainability practices.
Mackenzie will also work closely with SWIP's sustainable and responsible investment team - which includes Joanna Terrett and Johnny Russell, manager of the company's suite of £450m ($722m) socially responsible funds under management.
Standard Life Investments has hired Seiichi Fukuyama as chairman where he will provide strategic advice, market intelligence and develop the recently announced strategic alliance with Chuo Mitsui Asset Trust and Banking (Chuo Mitsui) of Japan. Fukuyama joins from BlackRock, Asia Pacific where he was appointed adviser in 2009 and was vice chairman of Asia & Japan from 1989.
Mercer has expanded its covenant consulting team with the hire of Andrew Horner from Baker Tilly and Tim Birkett from business outsourcer Vertex. Both will join the firm as senior associates and advise pension scheme trustees on the strengths and weaknesses of their sponsoring employers and their ability to fund their defined benefit schemes, as well as providing strategic covenant advice.
Horner spent 12 years at Baker Tilly, where latterly he held the role of associate director. Birkett held a number of senior finance roles at Vertex, including treasurer and company secretary. He was also trustee chairman for the company pension scheme. Both are qualified chartered accountants and will be based in Mercer's Manchester office.
Additionally, Mercer has hired Paul Noone as national operations manager and Cathryn Cooney as regional operations manager as part of a service enhancement programme within its UK outsourcing business. Noone joins from Tata Consultancy Services where he was head of operations and Cooney has come across from The Pensions Trust where she was project manager.
The firm has also appointed Jo Tyler as regional operations manager for the South of England. Tyler joined the firm in November 2009 as head of scheme service centre and discontinued scheme services.
George Diehr has been re-elected to the California Public Employees' Retirement System's (CalPERS) 13-member Board of Administration, after winning over 77.5% of the votes in the State Member Board Election. Diehr is member of the faculty of the College of Business Administration at California State University. He was first elected to the CalPERS Board in 2002 and was re-elected for a second four-year term in 2006. Currently, he is vice president of the Board, chair of the investment committee and vice chair of the Ad Hoc Board Governance Committee and Benefits and Program Administration Committee.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.