The Pensions Regulator, Amundi, FRR, ATP, AllianceBernstein, Towers Watson, Alexander Forbes, Barings, T. Rowe Price
The Pensions Regulator has confirmed the appointment of Bill Galvin as chief executive. Galvin (pictured) had been acting chief executive of the UK watchdog since May last year, following the departure of Tony Hobman to the Consumer Financial Education Body.
The regulator said Galvin's appointment was made following an open competition. Galvin said the next few years will be an "exciting and challenging period" with auto-enrolment predicted to bring many millions more into workplace pensions from 2012.
Asset management firm Amundi has named Romain Boscher to the new role of global head of equities. He was previously deputy chief executive in charge of investment management at Groupama Asset Management. He will be based in Paris and report to Pascal Blanque, chief investment officer group, deputy CEO and head of the institutional investment division.
Meanwhile, Antoine de Salins, executive director at Fonds de réserve pour les retraites, will replace Boscher at Groupama Asset Management. Salins will also act as deputy general manager and become a member of the executive committee. Based in Paris, he will report to chief executive officer Francis Ailhaud. He joins Groupama, which manages €92.3bn of assets, on February 7. (Global Pensions; 12 January 2011)
Danish pension provider ATP has named its deputy CIO Henrik Gade Jepsen chief investment officer. The former deputy was named acting CIO when Bjarne Graven Larsen left the pension fund to join FIH Erhvervsbank as chief executive officer in December. He will now take on the role officially, reporting to director Lars Rohde in Denmark. The fund has yet to appoint a new deputy CIO. (Global Pensions; 14 January 2011)
AllianceBernstein announced chief financial officer John Howard will be leaving to return to his former employer, AQR Capital Management, to take up his previous role as chief operating officer. He will remain with the firm until 15 February 2011 to oversee the release of last year's fourth quarter earnings and assist with the transition.
AllianceBernstein is conducting an internal and external search for a successor; meanwhile, corporate controller Edward Farrell will serve as interim CFO. (Global Pensions; 13 January 2011)
Consultancy firm Towers Watson has named Chris DeMeo head of investments for North America. DeMeo is based in New York and reports to global head of investments Carl Hess. He is responsible for the firm's investment advisory business in the US and Canada, which was previously part of Hess' remit. Hess will "remain actively involved with Towers Watson's clients in North America," the firm said. (Global Pensions; 12 January 2011)
Alexander Forbes Consultants & Actuaries has hired Antony Hayes as head of institutional business in a bid to expand its employee benefits consultancy business. Hayes joins from Aon Hewitt where he was head of its defined contribution consulting and pension risk transfer teams. (Global Pensions; 11 January 2011)
Baring Asset Management has hired Christine Bergstedt Jorgensen to fill the newly created role of director of European institutional sales and business development. She is based in London and reports to head of UK and international institutional sales Andrew Benton. Jorgensen joined from Aviva Investors where she was head of Nordic sales for institutional clients.
Benton said: "We are expanding the institutional sales and business development team to meet the growing demand we are experiencing from clients and prospects across the region, particularly for our renowned multi asset product and global emerging market investment expertise."
T. Rowe Price has opened a representative office in the Dubai International Finance Centre and has appointed Pieter Hendriks as director and business development executive for the Middle East and Africa. He joined from ING Investment Management where he was managing director and head of sales and distribution.
Global real estate manager LaSalle Investment Management has hired Martin Jochem as joint managing director of LaSalle Kapitalanlagegesellschaft (KAG). The firm recently received approval from the German Federal Financial Supervisory Authority to form a capital investment company for specialist investment funds. Jochem will be responsible for marketing the funds set up under the KAG to institutional investors in Germany, Austria and Switzerland. He is based in Munich, Germany and reports to Claus Thomas, regional director of LaSalle GmbH.
A suite of liability driven investment (LDI) indices has been launched by STOXX and RiskFirst to aid trustees and consultants select, monitor and challenge managers.
British Airways and the trustees of one of its pension schemes are set to argue over the purpose of a pension scheme, leading to an impactful judgment for DB pensions. James Phillips explores the issue
Bank of England governor Mark Carney has said there is still a lot of data to consider before the Monetary Policy Committee (MPC) can decide when to next hike interest rates.
Savers are not squandering their tax-free lump sums under Freedom and Choice but are taking a more cautious approach to retirement, according to Prudential research.