BNY Mellon, BA, Russell Investments, HamishWilson, Pictet, BlackRock, Towers Watson
BNY Mellon has completed a high-level shuffle in Asia-Pacific naming a new chairman for the region and chief operating officer.
Stephen Lackey (pictured) will serve as chairman of Asia-pacific, replacing Christopher Sturdy, who is taking on a new role in New York. Lackey will be based in Hong Kong, and will be responsible for developing the firm's business strategy in the region. He will also be the firm's primary contact for local regulators, and oversee client management. Lackey will report to James Palermo, vice chairman of BNY Mellon and CEO of global client management.
Lackey was also appointed as chair of the Asia-Pacific Executive Committee and will join BNY's executive committee. Lackey, who has been at BNY for three decades, is currently director of global corporate development and investor relations.
Sturdy, meanwhile, had been Asia-Pacific chairman since 2008, but will now take on the role of senior executive in the strategic client group, also reporting to Palermo.
"His appointment is an important addition to the company's new client coverage model serving BNY Mellon's largest global clients. Sturdy will join a new team of senior executives in leading this effort," the firm said in a release.
Daniel Smith, currently chief administrative officer in Asia Pacific, is now chief operating officer for the region. He will continue as chief administrative officer. Smith is also based in Hong Kong.
A third British Airways pension scheme trustee has quit the scheme in the row over future indexation saying the scheme had become a ‘political football'. Graham Tomlin joined Cliff Pocock and Mike Post in resigning over the issue at the end of last week. (Global Pensions; 18 April 2011)
Russell Investments has added two staffers to its hedge fund team in New York. Brian Burke will be the firm's new chief risk officer for hedge funds and Lance Babbit has joined as senior portfolio manager. Burke will be responsible for analyzing market risk exposures in alternative investment manager portfolios. He joins from Measurisk, an analytical system for hedge funds, where he was director. Babbit will oversee the firm's multi-strategy hedge funds of funds portfolios. He joins from Credit Suisse where he was director in the firm's alpha strategies group. Both will report to Ed Robertiello, managing director of hedge funds.
UK-based actuary and consultant HamishWilson has strengthened its team with three hires.
Craig Simmons has joined the firm as director of consulting delivery, Helen-Marie Hill has been appointed financial controller and Richard Mulcahy will join the board as a non-executive director. Simmons will be responsible for developing the firm's consulting capability and will be on the firm's management team, contributing to its strategic direction and implementing new initiatives. Mulcahy will assist with the strategic direction of the firm, client care and trustee training.
The firm also announced that Heather Ellis, who has been with them since 2008, has been made director of consulting support. She will have responsibility for all support services including HR, IT, finance, marketing and PR.
Pictet Asset Management has appointed Avo Ora senior investment manager in the emerging markets equity team, responsible for the management of Asia ex-Japan regional portfolios.
Ora was previously at Putnam Investments in Boston where he was a senior vice responsible for Asia Pacific ex Japan strategies. Richard Heelis, chief investment officer of equities at Pictet said: "Avo's appointment represents a significant reinforcement of our Emerging Markets expertise to this crucial region."
Pictet has £5bn ($8bn) of assets under management invested in emerging market equities.
BlackRock has appointed Lee Kempler to head its new Investment Institute. Kempler will act as managing director and executive director of the Institute, which has been established to generate thought leadership from across the markets, asset classes and investor segments it specialises in. (Global Pensions; 15 April 2011)
Towers Watson president and chief operating officer Mark Mactas will retire at year-end after more than three decades with the firm, the consultancy announced. (Global Pensions; 12 April 2011)
PP has analysed the accounts of the biggest pension consulting firms and recorded the turnover (revenue) in their most recent accounts. The full leaderboard is below…
UK defined benefit (DB) schemes have increasingly undertaken benefit reviews over the last four years resulting in an acceleration of scheme closures, Aon research finds.
Contributions are no longer sufficient to meet regular payments for three-quarters of small- to medium- sized defined benefit (DB) schemes, Buck analysis finds.