News

Private equity finding it harder to ditch pension liabilities; Lehman Brothers completes third sale of assets as investment unit realises $2.15bn; Companies must pick up more of the burden of healthcare and state pension costs; B&B deal to add £30bn to...

Publishing group Coughlan Companies has appointed Gissings Consultancy Services to advise the creation of a benefit plan for employees transferring into the firm.

HSBC Actuaries and Consultants has appointed Paul Armitage as head of defined contribution to grow the business.

The final guidance to assist trustees in calculating transfer values for defined benefit schemes has been published by The Pensions Regulator.

Growing numbers of defined contribution sponsors and trustees are receiving only adequate service from providers, a Watson Wyatt survey reveals.

BAIN Capital Partners and Hellman & Friedman have bought Neuberger Berman and some other asset management businesses of Lehman Brothers' investment management division for $2.15bn (£1.19bn).

GLOBAL - The pensions industry is struggling to take in the consequences of the US Congress' failure to pass the controversial US$700bn bail-out plan, as markets across the world reacted negatively to the announcement.

EUROPE - European banking group Dexia has been forced to secure €6.4bn (US$9.15bn) of extra capital from governments, institutional investors and pension funds.

US - The state of New Jersey has approved the Public Employee Pension and Benefits Reform Act, in an effort to further curb the cost of government workers' benefits.

US - "I've never lived through something like that," Stephen Jarislowsky, the 83-year-old chairman and founder of Montreal-based money manager Jarislowsky Fraser Ltd., said yesterday about the past month on Wall Street.