Russell restructures EMEA; Towers Watson lures AonHewitt's Machon; SEC; Robeco; AustralianSuper; Standard Life Investments; Allianz Netherlands Asset Management; IMF
Russell Investments has named a new chief executive and president in a major restructure of its EMEA management team.
The firm said it had hired Len Brennan (pictured) as chief executive of its Europe, Middle East & Africa business from 11 July and promoted Pascal Duval, former EMEA executive managing director, to the role of president, EMEA.
The re-shuffle comes after the Johan Cras, the chief executive of Russell's European businesses since 2008, said he wanted to be closer to home to allow more time with his family in the Netherlands. He will become a consultant and help build Russell's business in Northern Europe.
Russell said it had set itself an "ambitious" growth strategy for the region and expected to make a number of other senior appointments in the near future to support the "advancing goals of the business".
Brennan joins Russell from Rainier Investment Management, where he was president and chief executive officer. He had previously worked at Russell Investments for 20 years, latterly as managing director of individual investor services, where he had oversight for Russell's global operations - and launched the firm's first multi-manager investment funds outside the United States.
Towers Watson has hired John Machon as the firm's head of business development for the consultant's retirement solutions business in Europe, Middle East and Africa, a new role for the firm.
Machon joins from rival AonHewitt where he spent the past seven years as chief commercial officer for EMEA.
Mark Stewart, head of retirement solutions at Towers Watson said: "I am delighted John Machon has decided to join Towers Watson in this newly created position, which in itself reflects a growing regional demand for the our services in this area. John's experience will add solid expertise to the Retirement Solutions team and we very much look forward to working with him."
The Securities and Exchange Commission has made two senior appointments to its Division of Investment Management. Robert Plaze is now deputy director, while Dianne Blizzard will take on the newly created role of managing executive.
Plaze, who has been with the SEC for 27 years, will "play an integral role in the division's regulatory programme under the Investment Company and Investment Advisers Acts of 1940", the SEC said in a release. He will be responsible for rulemaking, granting exemptions and issuing "interpretive positions" from the act. He was most recently associate director for regulatory policy.
Blizzard was formerly senior advisor to Eileen Rominger, director of the division. She will now be responsible for the administration, resource allocation and strategic planning of the unit.
Robeco has appointed Tony Edwards as chief executive officer of its Asia Pacific business.
His appointment, which is effective from 1 September, follows the retirement of Frances Chang, CEO Greater China and South East Asia. Robeco said Edwards will be responsible expanding its business across the whole region in order to fit the company's broader growth plan in Asia Pacific. He will be based in Hong Kong. (Global Pensions; 1 July 2011)
AustralianSuper has appointed ASFA's Louise Du Pre-Alba to the new role of head of policy. Du Pre-Alba joins from the Association of Superannuation Funds of Australia (ASFA), where she held the similar role of director of policy. (Global Pensions; 30 June 2011)
Standard Life Investments has appointed Séverine Laffineur as European portfolio manager in its Paris office. Laffineur , who joins on 18 July, will report to head of continental European real estate Daniel Mchugh. She was previously a national director at LaSalle Investment Management in Paris and in her new role will be responsible for deal sourcing and acquisitions for the company's European real estate business as well as asset management of existing investments. SLI manages €11.4bn of real estate assets in Europe (Global Pensions; 28 June 2011)
Allianz Netherlands Asset Management (ANAM) is to be integrated into Allianz Global Investors Investments Europe, with the latter assuming responsibility for the management of Allianz fixed income, equity and balanced assets totalling €6bn ($8.6bn).
Rotterdam-based ANAM is the third portfolio management team to be integrated into AllianzGI Investments Europe from an Allianz entity since its launch in May 2010 and joins teams from Zurich and Munich (Aequitas GmbH) alongside its initial hubs in Paris and Milan. (Global Pensions; 30 June 2011)
The executive board of the International Monetary Fund (IMF) has chosen French finance minister Christine Lagarde as its new director. She will serve as director and madame chairman of the IMF's executive board for five years from 5 July. (Global Pensions; 29 June 2011)
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Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers