Towers Watson; EIOPA; ATP; State Street; Janus Capital Group Inc; Transamerica Retirement Services; Mercer; T. Rowe Price; QIC
Towers Watson has named six investment heads, including one to the new position of head of strategy for North America. Towers Watson has appointed Matthew Stroud to the newly created position of head of strategy and portfolio construction in North America. Stroud will help clients develop strategies and portfolios based on their objectives, consistent with the firm's outlook on capital markets and investment opportunities. He moves across from the firm's New York office where he was investment leader for the past five years. He is also a member of the company's Global Investment Committee.
Additionally, the firm has announced Michael Hall as west division investment leader; Weston Tompkins as east division investment leader; Marko Komarynsky as head of manager research in the US; Diya Luke as the New York office investment leader; and Hillary Bolton as the Atlanta office investment leader. These roles will go into effect immediately while Hall's will start at the beginning of March (Global Pensions: 4 February 2011).
The European Parliament has confirmed Gabriel Bernardino as the first chairperson of the European Insurance and Occupational Pensions Authority (EIOPA). He was elected by EIOPA's Board of Supervisors on 13 January 2011 and will assume his responsibilities on 1 March. Previously, he was chairman of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) between October 2009 and December 2010, which changed to EIOPA at the start of the year. He was also the director general of the Directorate for Development and Institutional Relations at the Instituto de Seguros de Portugal (Global Pensions: 13 January 2011).
Former Conservative pensions spokesman Nigel Waterson has joined Danish pension fund ATP to help it launch an alternative to the National Employment Savings Trust (Global Pensions: 2 February 2011).
State Street has appointed Phil McGowan as senior vice president and head of private equity and real estate services for Europe, Middle East and Africa. McGowan joins State Street from HFX Capital where he was chief operating officer for alternative investment distribution and sales. Prior to this, he was with Investors Bank and Trust Company with responsibility for the firm's European onshore/offshore fund administration business.
The firm has also hired Giovanni Caricati as chief operating officer for State Street's Global Services business in Italy. He will report to head Riccardo Lamanna. Giovanni joins from Intesa San Paolo where he was head of NAV. Before this, he was head of operations for Nextra Investment Management, part of the Intesa San Paolo group.
Additionally, State Street Global Markets has appointed four senior transition managers for its global portfolio solutions groups in the US, Australia and Japan (Global Pensions: 3 February 2011).
Janus Capital Group Inc has named Augustus Cheh as president of Janus Capital International, the firm's non-US business arm, and Hiroshi Yoh as chief executive officer of Janus Capital Singapore - subject to regulatory approval - and portfolio manager of Asian equity products. Both appointments mark the firm's plans to strengthen its global investment capabilities.
Based in Hong Kong, Cheh will report to Janus' CEO Dick Weil and work with the regional management teams to oversee the firm's businesses in Asia Pacific, Europe and the Middle East. He joins from AllianceBernstein Hong Kong where he was CEO.
Yoh will be based in Singapore, working under Co-CIO Jonathan Coleman and will manage the firm's Asian equity portfolios and help launch products including US and UCITS mutual funds. Previously, he was CEO and CIO at Tokio Marine Asset Management International, a Singapore-based asset management firm.
Steve Marsh has been hired as Southern regional vice president at Transamerica Retirement Services where he will oversee all sales activities and distribution in Louisiana, Mississippi and Arkansas. He will report to Steven Dunlap, division vice president for the region. Most recently, he served as regional vice president at Nationwide Financial with responsibility for wholesaling qualified retirement plans to independent, wirehouse and financial institution channels.
Mercer has strengthened its management team in Italy with four internal appointments. The firm has appointed Francesco Lamanda as chairman of the board; Martin Meerkerk as market leader and co-chairman; Marco Morelli to lead the human capital business; and Renato Dorrucci as EMEA head of talent management consulting (Global Pensions: 1 February 2011).
T. Rowe Price has appointed Luke Selway as a consultant relations manager for Europe, Middle East and Africa (EMEA). He will be based in London and report to head of consultant relations Nick Trueman. In his new role he will manage the firm's relationships with UK and Irish investment consultants and assist the European sales teams. Previously, he was a consultant relations manager at Threadneedle Asset Management which he joined in 2005.
QIC has appointed Cliff Smith to the newly created role of managing director of its institutional business. Based in Melbourne, he will develop relationships with institutional investors and investment consulting firms in Australia. He will report to head of funds management Hazel McNeilage. Smith spent the last eight years at Perennial Investment Partners; before this he was with Merrill Lynch Investment Managers.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.