Mercer; Threadneedle; Stamford Associates; Aberdeen Asset Management;PwC; Arcadian
Mercer has created a new global CIO role within its growing investment management business.
The firm's Asia Pacific CIO, Russell Clarke, will take on the role of global CIO, mainstream assets, and report to London-based global CIO, Andrew Kirton. (Global Pensions: 27 July 2011)
The role, which Kirton said was a logical extension of Mercer's reorganisation earlier this year of alternatives research and portfolio management activities along global lines, will see Clarke take responsibility for worldwide investment management decisions within all traditional asset classes, including equities, property, fixed interest and multi-asset portfolios.
Mercer's investment management business oversees more than $44bn around the world.
Kirton said: "As we evolve our portfolio management activities to an increasingly global footing and integrate it more closely with the underlying strategic and manager research that underpins it, the need for a pivotal leadership role in managing the challenges of the growing scale and complexity has become apparent."
Threadneedle has appointed June Wong as Regional vice chairman, CEO Hong Kong, and global consultant relations.
Wong will support Asia Pacific chairman Raymundo Yu and head of distribution, Campbell Fleming, as part of a substantial growth drive in the Asian region, Threadneedle said.
Asia Pacific chairman Yu, said: "I am delighted that June has chosen to join Threadneedle as regional vice chairman, CEO Hong Kong and leading our efforts with global consultant relations, and I am looking forward to working with her as we build a truly client-focused institutional business across Asia Pacific."
Wong joins Threadneedle from Alliance Bernstein in Hong Kong, where she was head of institutions, Asia ex-Japan. She was also an executive committee member, Asia ex-Japan and a board member of Alliance Bernstein Hong Kong. Ms Wong joined Alliance Bernstein in 2004 as head of institutions, North Asia.
Head of distribution Campbell Fleming added:"Increasing our AUM in the global institutional market is an important strategic priority for Threadneedle and June's leadership will be instrumental as we continue to globalise our institutional efforts. We have strong UK and European teams in place as well as large businesses in the region and are growing our capability globally, especially in the Asia Pacific where we see significant activity."
Wendy Mayall has joined Stamford Associates as a managing director and head of strategy after leaving the Unilever pension scheme.
She rejoins the investment consultant having worked for the firm from 1984 to 1994.
Mayall joins Stamford Associates having spent the last sixteen years at the Unilever Pension Fund where she was most recently chief investment officer. Her departure was first announced last month.
In her new role, Mayall will work to enhance the firm's services to new and existing clients.
Stamford Associates chairman Roger Cobley said: "I am very pleased Wendy Mayall is taking on this new leadership position at Stamford Associates, after a long and distinguished career at Unilever Pensions. A key part of her role will be to focus on how we can further enhance our services to our clients."
Mayall said she looked forward to taking the business forward with Nathan Gelber and Sir Mark Weinberg - appointed as a senior adviser in April - and developing the strategy and moving to the next stage of growth.
Mayall is renowned for taking a lead in Unilever's legal action against Merrill Lynch Investment management ten years ago over alleged negligent management of scheme money.
Aberdeen Asset Management has appointed Ben Pakenham as a portfolio manager and credit analyst to its high yield bond team.
Reporting to head of European high yield Paul Reed, Pakenham will focus on credit research work and also help manage the group's range of high yield portfolios.
He joins from Henderson Global Investors where he was manager of the Henderson Extra Monthly Income Bond Fund and co-manager on the Henderson High Yield Monthly Income and Fixed Interest Monthly Income Funds.
Reed said: "Ben's appointment strengthens further Aberdeen's high yield bond capability. With interest rates likely to remain relatively low, high yield bonds will remain attractive to investors searching for income. However, given the uncertain macro environment it is crucial to have the resources to identify those businesses able to weather challenging conditions. We remain convinced that a bottom-up investment process, focused on rigorous, in-house research, will be key to driving total returns."
PwC has expanded its pensions practice with the appointment of a partner and four additional senior hires.
The consultancy firm said it had hired Steven Dicker as a partner from Goldman Sachs. Prior to this he spent over a decade as a pensions partner with Watson Wyatt, the consulting firm which merged with Towers Perrin to become Towers Watson.
Dicker has advised on a number of significant risk reduction transactions - including the first £1bn-plus buy-in for the Cable & Wireless Superannuation and the first ever pension scheme longevity swap for Babcock.
In addition, PwC has hired Karein Davie and Nadeem Ladha from Hymans Robertson; Amanda Vaughan from Towers Watson and Finlay Stewart from Aon Hewitt.
Davie has been hired as a actuary and senior manager and will advise on scheme funding, liability management and benefit design; Ladha becomes a corporate pensions consultant and will specialise in pension risk management with particular emphasis on the financial and utilities sectors; and Vaughan has been appointed as a communications manager and will advise on pension scheme communications and member engagement.
Stewart joins as a manager and will provide a range of corporate pensions consulting services.
PwC's pensions practice now comprises of 20 partners and 400 consultants - and has taken on more than 50 new people over the past year alone.
Acadian Asset Management has appointed Matthew Rothman as director, top-down research.
Upon joining in September he will manage the group responsible for the firm's quantitative, equity-oriented top-down models. He reports to chief investment officer, John Chisholm.
Previously, Rothman was a managing director and the chief global quantitative equity strategist at Barclays Capital and held the same position at Lehman Brothers prior to its purchase by Barclays Capital in September 2008.
"Matthew brings to our firm a deep interest in top-down and macro models, along with a wealth of experience with bottom-up stock selection frameworks," Chisholm said.
"We believe that this experience will make him very effective at integrating his top-down work with Acadian's bottom-up research effort that will be led by Malcolm Baker and Wes Chan. Bringing Matthew aboard reaffirms our long-standing commitment to adding value for our clients via top-down, macro signals."
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.