Financial Times Mandate articles from February 2003

Financial Times Mandate archives from February 2003

News: W Sussex custody brief up for grabs.(West Sussex County Council Pension Fund)(Brief Article)
February 10, 2003... West Sussex County Council Pension Fund is to issue a tender for a GBP350m global custody mandate at the end of February. Rosemary Burfoot, group accountant at the GBP780m West Sussex County Council Pension Fund, said the tender is being...

News: Invesco seizes $200m 'global opportunity'.(Indiana Public Employees Retirement System)
February 10, 2003... Invesco has won a $200m "global opportunistic" mandate from the $9bn Indiana Public Employees Retirement System (IPERS). Although benchmarked against the MSCI ACWI Free Index, the brief gives Invesco the latitude to invest up to 30 per cent...

News: NYSTRS hands over $600m to Merrill and BGI following Deutsche's early dismissal.(New York State Teachers Retirement System)(Brief Article)
February 10, 2003... The New York State Teachers Retirement System (NYSTRS) has stripped a $600m enhanced passive international equities mandate from Deutsche Asset Management (DeAM) and shared it out equally between Merrill Lynch Investment Managers (MLIM) and...

News: Church fund confesses to replacing Barclays with Mellon.(Barclays Global Investors)(Mellon Capital Management)(Brief Article)
February 10, 2003... The $1.7bn pension fund for missionaries and ministers in the US has dropped Barclays Global Investors (BGI) in favour of Mellon Capital Management. The pension fund of the Christian Church (Disciples of Christ) let go of BGI at the end of...

Editorial: Institutional interest in SRI still underwhelming.(socially responsible investment )(Brief Article)
February 10, 2003... Are European institutional investors likely to embrace socially responsible investment (SRI) with the same enthusiasm shown by their retail counterparts? While an explosion in institutional interest may be some way off, the modest number...

News: In brief - Reduction of equities exposure linked to losses.(Belgian Association of Pension Funds statistics)(Brief Article)
February 10, 2003... Belgian pension funds suffered an average loss last year of 12.11 per cent as they reduced their exposure to equities. According to the Belgian Association of Pension Funds, performance declined last year from an average return of -5.1 per...

News: In brief - Dutch metal fund PME outsources e1.2m.(Brief Article)
February 10, 2003... Netherlands-based PME pension fund has released tenders for three mandates for a total of more than e1.2m. The tenders follow the creation of the e11.7bn metal industry pension fund through the merger of PMI and SVM in January. Two...

News: In brief - Bank Leu tenders hedge fund products.(Brief Article)
February 10, 2003... Bank Leu is to issue tenders in February for three hedge fund products that will comprise a mixture of single and multi-strategies. Peter Gruenblatt, head of alternative investments at Bank Leu, which was established in 1755, said hedge...

News: In brief - Shortlist drawn up for E65m global mandate.(Brief Article)
February 10, 2003... Fortunis Investment Consultancy has drawn up a four-strong shortlist for a e65m global equity mandate at an unnamed Dutch pension fund with about e500m in assets. Barclays Global Investors, State Street, Merrill Lynch and Goldman Sachs are...

News: In brief - Choice of options raised by Leviton.(Leviton Manufacturing 401K plan investment options)(Brief Article)
February 10, 2003... US electronics firm Leviton Manufacturing has raised the investment options in its 401k retirement plan from nine to 13. The plan, which was worth $85m a year ago, is managed by Columbia Management, a subsidiary of FleetBoston Financial....

News: Penn State picks Harris for small caps.(asset management firm Harris Associates to manage funds for Pennsylvania State Employees Retirement System)(Brief Article)
February 10, 2003... Chicago-based asset management firm Harris Associates has won a reported $150m international small-cap mandate from the Pennsylvania State Employees Retirement System (SERS), the state's pension fund for public employees Harris Associates...

News: ING outsources managed account business to BNY.(ING Investment Managemen, Bank of New York)(Brief Article)
February 10, 2003... ING Investment Management (ING IM) Americas is outsourcing the administration of its managed account business to the Bank of New York (BNY). Under the agreement, ING Managed Account Group, which administers more than 30,000 accounts worth...

News: SEI cuts oe117m multi-fund deal with Diamond.(SEI Investments)(Global Equity Partners )(Diamond Trading Company)(Brief Article)
February 10, 2003... The Diamond Trading Company's (DTC) pension fund has granted a GBP117m UK and Global Equity mandate to SEI Investments. The mandate, which comprises more than a third of the pension fund's GBP300m assets, is the largest ever won by SEI in...

News: JPMorgan loses e50m ABB brief to GMO.(ABB Investment Foundation)(Brief Article)
February 10, 2003... Swiss-based ABB Investment Foundation has dropped JPMorgan Fleming Asset Management from a e50m emerging markets equity portfolio and replaced it with Grantham, Mayo, Van Otterloo (GMO). Daniel Dubach, chief investment officer of the ABB...

Comment and Analysis: Investors unite in show of optimism.
February 10, 2003... Predicting the future of the world stock markets is a precarious business and after three years of negative returns and a potential global conflict on the horizon, the job is even tougher. However, such uncertainty has not prevented 66...

News: LA puts $750m bond brief out to tender.(Los Angeles Department of Water and Power )(Brief Article)
February 10, 2003... A $750m fixed income brief is up for grabs at a major US public utilities pension fund. The $5bn Los Angeles Department of Water and Power (DWP) is looking for a manager for an active core domestic fixed income brief, benchmarked against...

News: Invesco and Carlson dropped by Skandia.(INVESCO Capital Management Inc.)(Carlson Investment Management)(Brief Article)
February 10, 2003... Dublin-based Skandia Global Funds (SGF) has dropped Invesco and Carlson Investment Management from its pan-European and Swedish equity mandates worth a combined $90m. Mike Hemming, managing director, Europe, at SGF, said it replaced...

News: ABP stake kick-starts SRI drive.(pension fund)(socially responsible investment)(Brief Article)
February 10, 2003... Leading Dutch pension fund ABP has purchased a 15 per cent equity stake in Innovest, an investment research firm specialising in socially responsible investment (SRI). The purchase, which Innovest CEO Matthew Kiernan described as a...

News: Chicago and GSAM clinch $200m Lousiana contract.(Lousiana State Employees Retirement System)(Goldman Sachs Asset Management)(Brief Article)
February 10, 2003... Lousiana State Employees Retirement System (Lasers), the state's public pension fund, has awarded two $100m large-cap domestic growth mandates to Goldman Sachs Asset Management (GSAM) and Chicago Equity Partners. The two asset management...

News: In brief - Bad news for Europe's property market.(Brief Article)
February 10, 2003... Property investors have been warned that European real estate returns will remain negative following a fall in rents and a rise in vacancy rates. According to ratings agency Standard & Poor's (S&P), there is concern that property...

News: In brief - Sustainable partners Monte Paschi for SRI.(Sustainable Asset Management)(Monte Paschi Asset Management)(Brief Article)
February 10, 2003... A Swiss socially responsible investment (SRI) firm has teamed up with an Italian asset management house to provide ethical investment products. Sustainable Asset Management has signed an agreement with Monte Paschi Asset Management to...

News: Axa's small-cap success returns $250m in Europe.(Brief Article)
February 10, 2003... Axa Rosenberg Investment Management has secured mandates worth e250m for its small-cap division from Dutch pension fund managers Blue Sky Group (BSG), the former pensions department of KLM, and AHV-AVS, the Swiss Social Security Fund. The...

News: Swedish kommun allocates mandates totalling e86.5m.(Landeskrona, Sweden)(Brief Article)
February 10, 2003... The kommun (municipality) of Landeskrona in Sweden has awarded bond and equity mandates totalling SKr800m (e86.5m) in what amounts to a diversification away from investment in a single stock. In 2001, the kommun sold its stake in Swedish...

News: Pooled funds fail UK investors.(Pooled pension funds)(Brief Article)
February 10, 2003... Pooled pension funds experienced their worst returns since records began offering up a pitiful -18.1 per cent for investors in the UK. According to the latest Russell/Mellon Caps figures, pooled balanced pension funds experienced their...

News: Allstate diversifies out of liquidity.(Allstate Insurance Company's pension scheme investment plans)(Brief Article)
February 10, 2003... US firm Allstate Insurance Company's pension scheme is to go into real estate and increase its allocation to private equity. The $2.5bn defined benefit part of Allstate's retirement scheme will raise private equity from less than 1 per cent...

News: Regions Financial appoints BNY custodian for $8bn in trust assets.(Brief Article)
February 10, 2003... The Bank of New York (BNY) has been chosen by US-based trust company and investment manager, Regions Morgan Keegan Trust, to provide global custody and securities lending services for approximately $8bn in US and non-US trust assets. ...

News: Northern Trust signs Dublin deal with Insight.(Insight Investment Management )(Brief Article)
February 10, 2003... Northern Trust has won a mandate from Insight Investment Management to provide administration, transfer agency and custody services to its Dublin- domiciled money market fund, the Insight Liquidity Fund. Launched in January, the fund is...

News: G30 submits reform agenda for global clearing and settlement.(Group of Thirty consultation on securities industry issues)
February 10, 2003... Major reform to bring about a safer, cheaper and more efficient system for the international clearance and settlement of securities, has been called for in a new report by the "Group of Thirty" (G30), a private, non-profit, consultative group...

News: FTI alliance to focus on STP solutions.(Financial Technologies International )(straight-through processing)(Brief Article)
February 10, 2003... Financial Technologies International (FTI), a provider of financial enterprise software, has teamed up with management consultants, m.a.partners to offer straight-through processing (STP) and risk management technology to financial institutions...

News: JPMorgan adds Axa to list of German custody clients.(JPMorgan Investor Services)(Axa Investment Managers)(Brief Article)
February 10, 2003... JPMorgan Investor Services (JPMIS) has won a mandate from Axa Investment Managers (Axa IM) in Germany to provide custody services to e9bn invested in 20-24 special funds. The investors comprise various Axa insurance companies, including...

News: UK pensions deficit spirals to oe65bn.
February 10, 2003... The deficit of the UK's largest pension schemes reached GBP65bn in 2002, according to an industry report. Morgan Stanley's equity research document found that the aggregate deficit of defined benefit pensions schemes for FTSE 100 companies...

News Analysis: Pooled pension fund performance - Equities blamed for dismal returns.
February 10, 2003... Investors were expecting bad news from the 2002 Russell/Mellon Caps pooled pension figures released this month, but they may not have been prepared for the worst calendar performance since records began. The performance measurer found that...

People News: De Sisto accepts senior role at BBH.(Stephanie De Sisto)(Brief Article)
February 10, 2003... Brown Brothers Harriman (BBH) has appointed Stephanie De Sisto as senior vice-president in charge of fund accounting and administration. Ms De Sisto joins BBH from Aetna Mutual Funds, a subsidiary of ING, where she was chief financial...

People News: New CSAM structure shapes Europe team.(Credit Suisse Asset Management)(Brief Article)
February 10, 2003... A bid to capture the pan-European institutional asset management market prompted Credit Suisse Asset Management (CSAM) to create a new management structure. The firm has appointed Heinrich Wegmann as chief executive officer for CSAM's...

People News: Invesco beefs up DC pensions desk.(Invesco Asset Management Ltd.)(Brief Article)
February 10, 2003... Invesco Asset Management has made three appointments to its defined contribution (DC) pensions team in a move to strengthen its presence in the UK market. Helen Archer joins as business development manager and takes responsibility for...

People News: Two quit Institutional Investor for Inalytics.(Brief Article)
February 10, 2003... One of Europe's largest transaction cost measurers has completed a recruitment drive in a bid to strengthen its service to UK and European asset managers. Inalytics has recruited Stephane Blais as managing director for asset management...

People News: RAM takeover leads to recruitment spree.(Insight Investment )(Brief Article)
February 10, 2003... Insight Investment has made a string of appointments in the run up to its takeover of Rothschild Asset Management (RAM). Roger Price-Haworth has been appointed as director and head of UK consultants and sales from his current position as...

Mandate Research: Risk management - Operational risk - Understanding the nature of volatility.
February 10, 2003... Successful risk management requires knowledge of the nature of asset return volatility. Most market participants now understand that returns have fat tails, meaning that there are more big moves than might be expected using the normal...

Mandate Research: Risk management - Operational risk - Hedge funds in search of unique risk solutions.
February 10, 2003... The current state of the global economy and the changing regulatory environment have resulted in many more hedge fund managers coming into existence over recent months. The instruments and trading styles of these hedge funds differ...

Mandate Research: Risk management - Operational risk - Investment firms find ways to mitigate operational risks.
February 10, 2003... In November 2002, the European Commission (EC) indicated it would further review the way in which the new Basle framework for operational risk would be applied to European investment managers. The likely outcome appears to be a calibration of...

Mandate Research: Pension funds - The Netherlands - Dutch take deficit in their stride.
February 10, 2003... Tough financial markets and stringent regulations are two of the grim characteristics facing Dutch pensions managers as they enter 2003. Although the miserable investing environment is by no means unique to the Netherlands, the...

Mandate Research: Pension funds - The Netherlands - Reforms could spell disaster for economy.
February 10, 2003... You know pension regulations must be strict when the nation's largest pension fund is unable to meet their requirements. The stringency of the latest rules set by the Dutch pension fund regulator, the Pension & Insurance Chamber (PVK), has...

Swedish foundation invests in Swip European SRI fund.(socially responsible investment)(Brief Article)
February 10, 2003... Scottish Widows Investment Partnership (Swip), the asset management house of Scottish Widows', has teamed up with Swedish investment marketing firm Intervalor to secure a new mandate for its European socially responsible investment (SRI) fund....

Funding crisis prompts pensions review.(Brief Article)
February 10, 2003... The Swiss government has announced a major review of its entire occupational pension system following concerns about a funding crisis. According to the Federal Office of Social Security in Switzerland, apprehension among "most of the...

Third-party animals: Robeco staff pretty in pink.(Robeco Asset Management)(Robeco Asset Management)(Brief Article)
February 10, 2003... Is Robeco Asset Management taking corporate culture a little too far? The company recently held a dinner to celebrate the opening of the company's Frankfurt office - at which Robeco's male staff were dressed in a uniform of white shirts,...

Third-party animals: Opportunities on the front line.(Brief Article)
February 10, 2003... Who said portfolio managers are not made of stern stuff? While investors have been preoccupied by the impact of war in Iraq on stock markets, some members of the money management community may have to face military action. But they are not...

Conferences.
February 10, 2003... - 8th Annual International Fund Management Conference, February 18-19 2003, Amsterdam, Netherlands Two-day course run by Dow Jones Contact: +44 (0)20 7842 9670 - Custody, Clearing & Settlement in Central & Eastern Europe, London,...

News: CalPERS casts hedge fund net wider in bid to boost returns.(California Public Employees' Retirement System will expand $1 bil hedge fund program)
February 24, 2003... The California Public Employees' Retirement System (CalPERS) is expanding its $1bn hedge fund programme, although no decision on the size of a planned asset allocation increase will be made until June. Following staff recommendations,...

News: Pension fund managers bemoan high cost of global custody services.(Brief Article)
February 24, 2003... Pension fund managers rate their global custodians better than good, but less than excellent, according to Financial Times Mandate research. A snap survey of 24 pension fund managers, representing an asset base of $440bn, revealed that...

News: Skandia set to replicate exclusive retail deal.(Skandia Investment Management)(Goldman Sachs Asset Management )(Brief Article)
February 24, 2003... Skandia Investment Management is in negotiations with another fund manager to do a similar deal to the exclusive agreement it signed with Goldman Sachs Asset Management (GSAM) to offer GSAM's European equity fund to the retail market. ...

Editorial: Few investors confronting climate change risks.(Carbon Disclosure Project survey)(Brief Article)(Editorial)
February 24, 2003... Climate change could have a bearing on your bank balance as well as your health. A new survey by the UK-based Carbon Disclosure Project (CDP) boldly claims that investors who fail to take account of climate change in their asset allocations and...

News: In brief - BGI profits resist the effects of depreciation.(Barclays Global Investors)(Brief Article)
February 24, 2003... Barclays Global Investors has seen its profits rise 41 per cent, despite a 12 per cent depreciation in assets under management, its results for the year ending 31 December 2002 show. The rise in turnover to GBP110m was the result of fees...

News: In brief - Vetruvius success leads to Odey offshore fund.(Brief Article)
February 24, 2003... UK-based Odey Asset Management has launched a pan-European offshore fund aimed at continental pension funds and independent financial advisers. The move follows the company's success co-managing the Vetruvius pan-European fund on behalf of...

News: In brief - Partnership approval for oe50m Hermes fund.(Brief Article)
February 24, 2003... Hermes Pensions Management (Hermes) is planning to launch a new GBP50m real estate fund. It is waiting for shareholders at prospective partner, Prestbury Investment Holdings, to approve the deal at an extraordinary general meeting on February...

News: In brief - Processing of ETFs to be simplified by Euroclear.(exchange- traded fund)(Brief Article)
February 24, 2003... Euroclear France has launched an automated processing service for exchange- traded fund (ETF) transactions in the primary market. The company, part of Euroclear, already holds over 33 per cent of Europe's ETFs in custody. "This new ETF...

News: BNY's 'specialist style' key to oe365m win.(Brief Article)
February 24, 2003... Kimberly-Clark has chosen the Bank of New York (BNY) as global custodian to its GBP365m UK pension fund. Citing the custodian's "specialist approach", as chief among the reasons for selecting BNY, the US consumer products company also said...

News: NTGI champions race for Lincoln equity index brief.(Northern Trust Global Investments)(Lincoln Electric Company Master Retirement Trust)
February 24, 2003... Northern Trust Global Investments (NTGI) has won a $100m equity index mandate from the Lincoln Electric Company Master Retirement Trust, based in Cleveland, Ohio. Lincoln had already been using Northern Trust as its trustee partner. ...

News: MeadWestvaco appoints Northern Trust sole custody and securities services provider.(Brief Article)
February 24, 2003... Northern Trust has won a $4bn mandate from Connecticut-based MeadWestvaco Corporation, in a move which marks the consolidation of custody and securities services with one provider. The mandate is split between a defined benefit (DB)...

Comment and Analysis: Real estate deemed hot property among investors.
February 24, 2003... Property provided investors with a relatively safe haven from the plummeting markets in 2002 and offered up much-needed outperformance. In the UK, direct real estate notched up returns of 10.5 per cent compared with -22.7 per cent from...

News: Vanguard goes multi-manager with international fund.(Vanguard International Fund)(Baillie Gifford and Co.)(Brief Article)
February 24, 2003... The international subsidiary of Scottish-based asset manager Baillie Gifford has won a mandate to manage $1bn in assets for the $5.4bn Vanguard International Growth Fund. The award represents 20-25 per cent of the Vanguard fund. Schroder...

News: SEI chosen for energy mission.(SEI Investments Co.)(AEP Energy Services Ltd.)(Brief Article)
February 24, 2003... US-based multi-manager firm, SEI Investments, has won a GBP30m global equity mandate from the AEP Energy Services Generation pension fund. "This is a new scheme for us," explained Paul Harrop, director of human resources at AEP Energy...

News: SSgA plans to copy US success for Xerox in UK.(State Street Global Advisors Inc.)(Xerox Pensions Limited)(Brief Article)
February 24, 2003... State Street Global Advisors (SSgA) has scooped a GBP150m global enhanced indexing brief from Xerox Pensions Limited in the UK. According to Paul Hopkins, Xerox's head of pensions, SSgA's mandate win was a triumph of persuasion. "They...

News: Northern seeks staff via Internet.(Brief Article)
February 24, 2003... Northern Trust Global Advisors (NTGA), a subsidiary of Northern Trust that specialises in providing manager of manager funds, is looking for new and emerging investment managers to pitch for sub-advisory roles and has been advertising through...

News: In brief - Ohio out on the beat for two portfolio managers.(Ohio Highway Patrol Retirement System)(Brief Article)
February 24, 2003... The Ohio Highway Patrol Retirement System (HPRS) is tendering for managers for two portfolios. Leaning towards value investing, the larger contract is for a large cap domestic value portfolio with an asset value of about $50m. The second...

News: In brief - Cash manager wanted for $26bn Massachusetts fund.(Brief Article)
February 24, 2003... A "cash-sweep" mandate is up for grabs at the Commonwealth of Massachusetts Pension Reserves Investment Management (PRIM) Board. The $26bn pension fund is seeking enhanced cash investment management for approximately a daily balance of $650m....

News: State Street to reduce US headcount by 1000.(Brief Article)
February 24, 2003... State Street has announced that, starting in June, it plans to cut its overall workforce by about 1000 employees as part of a streamlining process following its acquisition last year of Deutsche Bank's securities services business. Hannah...

News: Credit Suisse to run GE Life property portfolio.(Credit Suisse Asset Management)(GE Life and Annuity Assurance Co.)(Brief Article)
February 24, 2003... The UK property arm of Credit Suisse Asset Management has won the mandate to manage GE Life's UK property portfolio. Valued at about GBP540m the assets are divided into three distinct portfolios, with one requiring an income return to fall in...

News: BGI loses Dutch pension mandate to Frank Russell.(Barclays Global Investors)(Brief Article)
February 24, 2003... The changing Dutch pension environment has led to Barclays Global Investors (BGI) losing a mandate to Frank Russell. Dutch publisher, Wolters Kluwer, has picked Russell to manage part of its pension portfolio, and has chosen three of its...

News: Colorado parks $170m with SSgA.(State Street Global Advisors Inc.)(Colorado Fire and Police Pension Association)(Brief Article)
February 24, 2003... State Street Global Advisors (SSgA) has been awarded a $170m "temporary" passive fixed income mandate by the Colorado Fire & Police Pension Association (CFPPA). SSgA has replaced Los Angeles-based fund manager Bradford and Marzec, which...

How the deal was won: DTC win puts the jewel in SEI crown.(Diamond Trading Company)(SEI Investments Co.)
February 24, 2003... SEI Investments scooped its largest ever multi-manager mandate in the UK in winning a GBP117m UK and global equity brief from the Diamond Trading Company's (DTC) pension fund. The mandate, which comprises more than a third of the pension...

News: HSBC targets trustees with 'Profile Plus' service.(HSBC Actuaries and Consultants)(Brief Article)
February 24, 2003... HSBC Actuaries and Consultants has launched a new, one-stop investment service called Profile Plus to manage the day-to-day pension scheme investment strategy on behalf of trustees. The service aims to help trustees determine an appropriate...

News: Deutsche Borse unveils new indices.(Brief Article)
February 24, 2003... The Deutsche Borse has announced the restructure of its equity indices based on a index model that divides the market into two segments: prime standard and general standard. These segments differ in terms of their respective transparency...

News: State Street bags German global custody contract.
February 24, 2003... German insurer, Deutscher Ring Versicherungen, has appointed State Street to supply its Depotbank services. The size of the mandate has not been disclosed, but since it is for the global assets of one of Germany's biggest insurers, the...

News: Experts issue warning on fund charges.(Brief Article)
February 24, 2003... Pension fund managers and retail investors should pay more attention to the charges on their funds, according to the third annual Global Investment Returns Yearbook. "There's a dawning realisation about charges," warns Professor Elroy...

News: BBH puts trading tool on the Web.(Brown Brothers Harriman and Co.)(Brief Article)
February 24, 2003... The proprietary currency-trading tool of Brown Brothers Harriman (BBH) has moved onto the Web. Demand for a Web-based product from existing clients has pushed BBH to launch the new FX IndexLink service. The tool, originally launched four years...

News: In brief - Allianz outsources securities lending business to Dresdner.(Brief Article)
February 24, 2003... The German retail fund manager arm of Allianz Dresdner Asset Management has transferred its securities lending business to Dresdner Kleinwort Wasserstein (DrKW). With E30bn under assets at deutscher investment trust (dit), the company had...

News: In brief - Indexchange launches first fixed income index ETF.(Brief Article)
February 24, 2003... Indexchange has launched Europe's first exchange-traded fund (ETF) tracking a fixed income index. The ETF replicates the eb.rexx Government Germany Index which includes the 25 most liquid German government bonds. These bonds are traded on...

News Analysis: US pension funds - US market pressing for a pensions one-stop shop.
February 24, 2003... Investment managers hunting for defined benefit (DB) pension business in the US are facing a new set of demands from prospective clients for a one-stop shop for pension services. According to a survey by US-based research firm Greenwich...

People News: New Star poaches Ramzan and Beton.(New Star Asset Management expands alternative investment arm)(Brief Article)
February 24, 2003... New Star Asset Management is expanding its alternative investment arm, having poached Sajid Ramzan and Chris Beton from Soros Fund Management. The two have worked together for over five years at several institutions running a convertible...

People News: Edinburgh names Nunneley chairman.(non-executive chairman named by Edinburgh Fund Managers)(Brief Article)
February 24, 2003... Following months of board-level blood letting, Edinburgh Fund Managers has appointed Charles Nunneley as non-executive chairman. November saw four non-executive directors resign over a disagreement on future policy with shareholders. A...

People News: Murray accepts role at Martin Currie.(fund manager Martin Currie appoints Paul Murray)(Brief Article)
February 24, 2003... Martin Currie, the Edinburgh-based fund manager, has appointed Paul Murray as its new managing director of private equity. Mr Murray moves from Deutsche Bank Capital Partners, which he helped found and which is now up for sale. His main...

People News: Barings expands fixed income team.(Baring Asset Management)(Brief Article)
February 24, 2003... The fixed income team of Baring Asset Management (BAM) has been boosted by two new members. Ed Britton has been given lead responsibility for running a number of segregated aggregate sterling portfolios and will be joining a number of...

People News: NAPF signs Lindey for part-time role.(National Association of Pension Funds in the UK)(Brief Article)
February 24, 2003... The National Association of Pension Funds in the UK (NAPF) has snapped up the expertise of Geoff Lindey as he retires from JPMorgan Fleming Asset Management. Mr Lindey was managing director of strategic relationships at JPMorgan Fleming...

People News: B&W bids to develop Northern business.(Hewitt Bacon & Woodrow)(Brief Article)
February 24, 2003... Pension consultant and actuary, Hewitt Bacon & Woodrow, is hoping to develop business in the north of England. It has announced that Andy Staddon will run its office operations based in Leeds, having taken over from Penny Webster and Bob...