Northern Trust, AP3, Permal, LGIM, JP Morgan Asset Management, BlackRock
Northern Trust has hired former JP Morgan exec Clive Bellows (pictured) as country head for Ireland. He will be based in Dublin and report to Toby Glaysher, head of fund services in Europe.
He will be responsible for the integration of Bank of Ireland Securities Services which Northern Trust said in February it would acquire. (Global Pensions; 25 February 2011) Bellows joins from JP Morgan where he was managing director for EMEA asset managers and hedge funds.
Bellows, who will be based in Northern Trust's Dublin office, will have responsibility for leading the company's Irish operations. He will also play a key role in ensuring the smooth integration of Bank of Ireland Securities Services, which Northern Trust announced it intended to acquire in late February this year. Bellows will report to Toby Glaysher, head of Global Fund Services in Europe.
The Swedish Government has appointed a new chairman and deputy chairman at pension buffer fund AP3. Pär Nuder will serve as chairman and Björn Börjesson as deputy chairman of the board. Nuder is replacing Claes de Neergard while Björn Börjesson replaces Lars Josefsson. Both were appointed for a one-year term.
Permal Investment Management has appointed Paul Jeffries to head up its UK institutional business. Jeffries takes on the newly-created role on 1st June and joins from Railpen Investments. He will report to executive vice president and co-head global business development, Roberto Giuffrida. (Global Pensions; 26 May 2011)
Legal & General Investment Management (LGIM) has hired Suresh Sadasivan as head of Asian equities. He replaces David Riddle who is retiring at the end of May after 14 years in the role. Sadasivan was previously head of emerging markets equities at Old Mutual Asset Management in Singapore. He will now be based in London and report to Ian King, head of international equities.
J.P. Morgan Asset Management has appointed Professor Paul Sweeting as European head of the Strategic Investment Advisory Group (SIAG). Located in London, Sweeting will be responsible for providing J.P. Morgan Asset Management's European institutional client base with advice, analysis and education about various aspects of asset allocation, risk management and investment strategies. (Global Pensions; 25 May 2011)
BlackRock has lured the trio who launched Merrill Lynch's private equity business to help kick-start direct private equity offerings within BlackRock. The firm said it hired Nathan Thorne, George Bitar and Mandy Puri all as managing directors and co-heads of the new BlackRock global private equity group. They will report to Matthew Botein, managing director and head of BlackRock Alternative Investors (BAI). (Global Pensions; 24 May 2011)
The Competition and Markets Authority has published three working papers as part of its investigation into the investment consultancy and fiduciary management markets.
In this week's Pensions Buzz, we wanted to know whether contract-based, trust-based or a master trust arrangement would be best for a new defined contribution (DC) scheme.
This week's edition of Professional Pensions is out now
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".