NETHERLANDS/BELGIUM - Dutch/Belgian financial group Fortis has told investors to expect a 7% dip in net profit for 2001, compared to 2000's company high of EUR2,768m.
The firm blamed weak financial markets and badly hit insurance operations for the fall. Last year, Fortis carried out a review of its credit and investment portfolios which confirmed the need for higher...
Karel Van Gutte has been named as secretary general of the Belgian Association of Pension Institutions (BAPI).
UK/BELGIUM - The Upper Tribunal expressed "serious reservations" about the amount The Pensions Regulator is chasing in its contribution notice against Michel Van De Wiele NV.
NETHERLANDS/BELGIUM - A group of Dutch and Belgian investors is planning to sue ABN Amro and KBC who acted as counterparties in trades with Lehman Brothers and Ernst & Young who audited the bank's accounts.
EUROPE - Multinationals are increasingly looking at creating cross-border pension funds for their employees, industry figures said.
BELGIUM - Pension funds lost an average of 15.5% over the year up to September, and shifted allocations from equities to bonds, research by Mercer reveals.