Jobs safe in bank merger
UK & NETHERLANDS - The asset management divisions of ABN AMRO and Barclays will not be merged, said a spokesman after the terms of the merger of the British and Dutch banking giants were announced.
The merger will create the world’s largest institutional asset manager. A spokesperson for Barclays assured Global Pensions that there would ‘absolutely not’ be any job cuts from the asset management side...
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CBRE completes ING real estate acquisition
US/NETHERLANDS - CB Richard Ellis (CBRE) has completed the acquisition of ING Real Estate Investment Management (ING REIM) Europe, marking the final stage of CBRE's absorption of ING's real estate business.
Falling coverage ratios will hamper Dutch pension funds' buy-out efforts, warns ABN Amro
NETHERLANDS - ABN Amro predicts half of Dutch company pension funds will shift assets to insured schemes.
Falling interest rates pummel funding ratios at PFZW, ABP
NETHERLANDS - Dropping interest rates knocked the coverage ratio for Pensioenfonds Zorg & Welzijn (PFZW) down to 91% and Stichting Pensioenfonds ABP's down to 90%.
State Street wins Dutch pension custody mandate
NETHERLANDS - Dutch pension fund Stichting Pensioenfonds SABIC Innovative Plastics has appointed State Street Corporation to provide custody and other services for its €700m ($970m) in assets.
APG and TIAA-CREF invest $1.5bn in US malls
NETHERLANDS/US - Dutch pension fund APG and the US pension fund manager TIAA-CREF have joined forces to invest in five US shopping malls valued at $1.5bn.
