News

UK - Steve Ilott, head of fixed income at Aberdeen Asset Management, is to hand over the running of the group's fixed income business to his colleague Gary Bartlett.

DAVID NORGROVE has been reappointed as chairman of the Pensions Regulator for a further three year term.

GLOBAL - PGGM, the Canadian Public Sector Pension Investment Board (PSP Investments) and Retirement Benefits Fund Board of Tasmania (RBF) have committed to infrastructure in two separate deals led by Australian consortia.

UNIONS campaigning against BAA's plans to close its final salary pension scheme to new entrants have urged the company to back down.

US - New regulations have been proposed for the US$154.5bn New York State Common Retirement Fund (CRF), in a move aimed at restoring confidence in its management.

AUSTRALASIA - Mercer has brought its Australian, New Zealand and Asian businesses under one umbrella, combining its capabilities in the areas of retirement and benefits outsourcing.

US - The Government Accountability Office (GAO) report on the long-term adequacy of defined contribution (DC) pension schemes has been criticised for taking a narrow view of the sector, using incomplete, outdated information and ignoring the findings...

CANADA - Drugmaker Biovail Corporation has agreed to pay US$138m to settle a securities fraud class-action suit led by the Ontario Teachers' Pension Plan (OTPP) board.

UK - Currency overlay managers failed to achieve positive returns in Q3, for the first time in 12 months, according to statistics released by BNY Mellon Asset Servicing.

US - The Securities and Exchange Commission (SEC) has settled its civil fraud case against Thomas J. Saiz, the former outside auditor of San Diego.