BNY Mellon creates Asia-Pac CEO role, Standard Life, Barnett Waddingham, BlackRock, SSgA, Permal
BNY Mellon Asset Management has hired Alan Harden as chief executive of Asia-Pacific, a new position. He is based in Hong Kong and reports to Curtis Arledge, vice chairman of BNY Mellon and chief executive officer of BNY Mellon's investment management division.
Harden joins from ING Investment Management where he held a similar position.
Mitchell Harris, president of investment management at BNY Mellon, said: "The Asia-Pacific region continues to exhibit strong growth for investment management companies and is home to some of the most sophisticated investors globally. Alan's depth of experience will help drive our business forward and sustain our momentum in meeting and exceeding our clients' investment expectations. Placing a senior member of our Asset Management team in the region is a strong statement of our commitment and desire to deepen our relationships with clients".
Standard Life has appointed Paul Matthews as chief executive of its UK business.
Matthews has been promoted from his role at Standard Life as UK take to market director, responsible for retail, corporate and direct to consumer business in the UK. He takes over duties from group chief executive David Nish, who has been covering the role since the departure of long-serving Sir Sandy Cromby in 2009. Matthew's new responsibilities include UK operations: customer services, UK IT and change.
Barnett Waddingham has promoted seven of its senior client advisers to the position of partner and added 14 associates after a period of sustained growth. The consultant said the promotions bring the number of partners across its seven UK practices to 50.
The seven employees elevated to partner are: Mark Futcher, Paul Hubbold, Julian Mainwood, Ben Pullen, Ben Roach, Vanessa Smart and Ruth Thomas.
Angela Gay is joining the firm as an associate with the other 13 newly named associates coming from within the firm. They are Ollie Clymo, Jon Daykin, Martin Hooper, John Landon, Debbie Matravers, Oli McCulloch, Tracey McManus, Dan Robinson, Tim Saxton, Finlay Souter, Chris Tagg, Sam Underhill and Ian Ward.
BlackRock has sharpened its focus on the defined contribution market with the appointment of a head of pensions administration services to develop its DC administration proposition. The newly created role has gone to Gary Smith, who will be working with head of UK DC Steve Rumbles, reporting to global head of client services Ed Hart.
Previously, Smith served as a member of the DC executive team at Towers Watson, where he was primarily responsible for developing the firm's DC strategy and building up its services in the market.
Hart said the appointment demonstrated the company's intention to establish a "best in class" DC business in the UK and across Europe, the Middle East and Africa.
State Street Global Advisors (SSgA), has appointed Bill Street as global head of fixed income alpha strategies. Street, who is based in London, was previously co-head of active fixed income alongside William Cunningham, who has left SSgA. (Global Pensions; 9 June 2011)
Institutional fund of hedge funds manager Permal has announced its second senior appointment in as many months, hiring Zhiwu Chen, professor of finance at Yale University, as a consulting chief adviser.
The appointment follows the $23bn asset manager hiring Paul Jeffries in May, from UK pension fund Railpen, to head its UK institutional business. (Global Pensions; 8 June 2011)
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.