News

THE BANK of New York Company and Mellon Financial Corporation have formally completed their merger forming The Bank of New York Mellon Corporation.

UK - Glasgow City Council is seeking a master custodian for the Strathclyde Pension fund.

US - The State of Tennessee has appointed Northern Trust to be custodian for the $29.3bn in assets of the Tennessee Consolidated Retirement System, the Baccalaureate Education System Trust and the Chairs of Excellence Trust.

NEARLY all pension schemes are aiming for funding levels of 100pc of accounting valuations or Pension Protection Fund payout levels, latest research by Hewitt Associates reveals.

JAPAN - Lawmakers have sought to put a lid on the nation's pension data woes by passing a package of reformist bills.

UK - Nicola Ralston, ex-head of global investment consulting at Hewitt, has joined Liability Solutions, forecasting challenging times ahead for traditional consultants.

INCLUDING: US - State Street buys Investors Financial Services Corp, UK - Pension funds in £4bn surplus, GLOBAL - Macquarie Goodman rebrands, UK - LaSalle and PRUPIM launch Asia Property fund.

A MONTHLY index detailing the funding of UK pension schemes is set to be launched by the Pension Protection Fund.

EUROPE - Global Pensions can exclusively reveal that midsize pension funds are flocking to infrastructure via the use of liquid exchange traded funds (ETFS).

THE ASSOCIATION of British Insurers is set to announce a severe warning to Cable & Wireless over its remuneration plans.