GLOBAL: UN Joint Staff Pension Fund; Fidelity; SGSS;F&C; Alliance Bernstein; PBGC; BlackRock; Wurts & Associates; Kas Bank
Bernard Cochemé, chief executive officer of the $43.4bn United Nations Joint Staff Pension Fund, will retire at the end of 2012.
The New York-based fund is in search of replacement, with the successful candidate to take up duties on 1 January 2013.
The initial contract is a five year term, with the opportunity upon pension board approval, of an additional five year contract.
Fidelity has appointed Paras Anand and Richard Lewis to head up its pan-European and global equities divisions.
Anand, who joins in the New Year, will manage the UK and continental European equity portfolio management teams based in London, Paris, Frankfurt and Milan. He is presently head of European equities at F&C and is lead manager of the F&C European Growth & Income fund and the European Assets Trust NV.
Lewis joins in November and will manage the global emerging market and global equity portfolio management teams. He spent nearly a decade at New Star Asset Management up to its take-over by Henderson. He was co-head of New Star Institutional Managers, which managed $12bn in international equities for North American clients
The two newly-created positions report to chief investment officer, equities, Dominic Rossi and will be based in London. (Global Pensions, 21 September, 2011)
Jean-Louis Bernardo has been appointed by Societe Generale Securities Services (SGSS) as deputy head of securities services and head of business development for SGSS in Russia.
Based in Moscow, Bernardo reports locally to Mikhail Bratanov, head of SGSS Russia (Rosbank) and to Philippe Huerre, head of emerging markets for SGSS, in Paris.
Bernardo previously managed the implementation of a complete securities services platform for SGSS in Egypt. He replaces Mathieu Maurier, who became SGSS' global head of sales and relationship management in January this year.
Tim Breedon, CEO of insurance group Legal & General (L&G), is to retire from the company at the end of 2012.
Breedon, also chairman of the Association of British Insurers, took up his current post in 2006. L&G said the process to appoint Breedon's successor will begin shortly. (Global Pensions, 22 September 2011)
F&C Investments has recruited Diliana Deltcheva as a fund manager in its emerging market debt team.
Diliana will join F&C from ING investment management based in the Netherlands where she has worked since 2002 latterly as senior portfolio manager within their global emerging market debt team.
She will report to Jonathan Mann, head of emerging market debt, whose London-based team manages around £3.4bn ($5.26bn).
F&C has also appointed Sara Stacey to head the firm's institutional marketing activities. Sara has joined F&C from BlueBay Asset Management where she worked as marketing & communications manager.
Sara will report to Tracey Fennell, the newly-appointed group head of marketing who will be joining the group next month.
Jeremy Cunningham has been appointed senior portfolio manager by Alliance Bernstein for its fixed income team in Europe. He joins from Schroders, where he was head of global fixed income product management. He will be based in London.
Arif Husain, director of European fixed income said: "Jeremy's appointment further strengthens our plans to grow through providing market leading products that meet our clients' needs."
Harry Wilson was sworn in as a member of the advisory committee of the Pension Benefit Guaranty Corporation (PBGC). President Obama appointed Wilson to the PBGC post until 2014.
Wilson is chairman and CEO of the corporate restructuring and turnaround firm MAEVA Advisors.
"Harry Wilson has a deep knowledge of corporate restructuring, and highly relevant government experience," said PBGC director Josh Gotbaum.
David Snowdon is joining BlackRock, where he will on business development for the company's UK DC business.
Snowdon joins from Barclays where he spent six years as an employee benefit consultant. He will report into Paul Gilbody, who recently joined BlackRock from NEST, and started on 8th August 2011.
Investing consulting firm, Wurts & Associates has hired Edward Hoffman as a consultant in its Los Angeles office.
Prior to joining Wurts, Hoffman served institutional clients at Causeway Capital Management and Legg Mason.
KAS Bank has appointed Steven Polese as relationship manager to the UK
institutional investors team. Steven joins from HSBC where he was relationship manager.
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.