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Defined Benefit Pension Schemes Are Dying In The UK, Finds Mercer Survey Of FTSE-350 Companies
SMBC Expected To Take Major Stake In Demutualised Mitsui Mutual
Mitsui Mutual Life, the Japanese insurance company planning to de mutualise next April, expects the Sumitomo Mitsui Banking Corporation (SMBC) to retain a 42.9 percent stake after the demutualisation according to a report in Nihon Keizai Shimbun. SMBC already provides
CAPSA Publishes Governance Guidelines For Pension Funds In Canada
The Canadian Association of Pension Supervisory Authorities (CAPSA) has published draft guidelines for the governance of pension funds in Canada. They cover the fiduciary responsibilities of plan administrators, the documentation of roles, and the need for both governance objectives and
State Street Retains Finnish Local Government Contract Held By Deutsche GSS
State Street says the Local Government Pensions Institution (LGPI) of Finland has confirmed the bank will be successor as its custodian and fund administrator to Deutsche GSS. State Street says the re appointment follows a formal review process conducted via
UK Institutional Investors Own Less Than Half The London Equity Market
Mercer Launches Investment Consulting Practice In Germany
Mercer Investment Consulting is launching a new Investment ConsultingPractice in Germany. The launch follows the recruitment of Herwig Kinzler and Erik Crawford as Senior Investment Consultants based in Frankfurt. Both have joined Mercer from Towers Perrin in Germany, where they
JP Morgan Profits Jump In The Second Quarter
Profits at JP Morgan Chase rose 78 per cent in the second quarter, taking earnings for the first half beyond what the bank earned in the whole of 2002. The improved results reflect mainly better performance in bond trading and
Allianz Buys More Of PIMCO
Pacific Life has exercised its option obliging Allianz to buy a further stake in PIMCO stake worth $250 million. The purchase takes the Allianz interest in PIMCO interest to 77.5 percent. The Munich based insurer bought 70 per cent of
Sandler-Style Savings Products Still Don't Add Up, Says Tillinghast Towers Perrin
The UK government has struggled since it took office in 1997 to find ways of achieving the impossible making people without spare cash save money for retirement. Its initial idea the so called "stakeholder" pension offered by UK life and