Exelerating UK Roundup week 9: what happened this week?

1 March 2019

Exelerating keeps track of financial institutions by monitoring over 1350 web pages of pension funds and asset managers every day for relevant changes. Within our weekly “Roundup” section we show the most important news that was posted last week on the pages we follow. The most important news of the past week is as follows:

Monday

• IFoA confirms Tan Suee Chieh as next President-elect
  IFoA publishes on its website:” The Institute and Faculty of Actuaries is delighted to announce that Tan Suee Chieh has been confirmed as the next President-elect. Tan Suee Chieh will take up his new position in June 2019 as John Taylor becomes President, taking over from Jules Constantinou.
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• Legal & General announces next CEO of Investment Management
  Legal & General publishes on its website:”Legal & General Group Plc (“Legal & General”) today announces the appointment of Michelle Scrimgeour as Chief Executive Officer of Legal & General Investment Management (“LGIM”) and executive director of Legal & General Group.Michelle Scrimgeour will join LGIM from Columbia Threadneedle Investments, where she is currently Chief Executive Officer with responsibility for the EMEA (Europe, Middle East and Africa) region.Her appointment follows a comprehensive, global search process and is subject to regulatory approval. She will succeed Mark Zinkula as CEO of LGIM.
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Tuesday

• XPS Pensions Group expands Investment Transitions Team
  XPS Pensions Group publishes on its website:”XPS Pensions Group, the UK specialist in pensions, investment and administration services is delighted to announce the appointment of Susan Middleton and Julia Falk to its specialist investment transitions team. Susan will lead the team and has joined as a Principal in the role of Head of Investment Transitions, alongside new Senior Consultant, Julia.
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• M&G Launches Multi Asset Sustainable Allocation Fund
  M&G publishes on its website:”M&G Investments, one of the leading international asset managers, announces today the launch of a UK-domiciled multi-asset fund incorporating environmental, social and governance (ESG) factors and investing in companies that aim to have a positive societal impact, whilst providing sustainable investments returns.The M&G Sustainable Allocation Fund is managed by Maria Municchi and supported by deputy fund manager Steven Andrew.The fund invests in a diversified range of asset classes from anywhere in the world including emerging markets (net allocation ranges: 20-80% in fixed income, 20-60% in equities and 0-20% in other assets) and will apply M&G’s well established Multi Asset philosophy, using dynamic asset allocation and a tactical assessment of behavioural factors to identify those assets that present the most attractive opportunities aiming to provide a total return* of 4 to 8% per annum over any five-year period. Asset allocation is the main driver of returns in the fund.As part of M&G’s Positive Impact team, Municchi will work with colleagues from across the business to identify a watchlist of potential impact investments.
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• Robeco appoints Alexander Preininger as Head of EMEA Institutional
  Robeco publishes on its website:”Robeco announces that Alexander Preininger has been appointed as Head of EMEA Institutional.In this newly created position, Mr. Preininger works together with local offices in Europe, the Middle East and Africa to meet the increasing desire among clients to engage in broader partnerships and work across regions.
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Wednesday

• Willis Towers Watson launches euro fund as secure income fund hits £1bn
  Willis Towers Watson publishes on its website:”Willis Towers Watson today announces that the Towers Watson Secure Income Fund (SIF) has reached £1 billion of commitments. The fund, available to Defined Benefit (DB) pension schemes in the UK, was launched in March 2017 to meet institutional demand for a product offering long-term sustainable income and which could help alleviate liability mismatch.As a result, Willis Towers Watson has launched the Towers Watson Euro Secure Income Fund (ESIF).
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• Fund selector JB Beckett joins Royal London’s investment advisory committee
  The Royal London Personal Pension Scheme publishes on its website:”Royal London has welcomed experienced fund selector JB Beckett to its Investment Advisory Committee (IAC).JB has nearly twenty years’ experience as a selector and is a well-known industry campaigner on fund governance issues. He is the author of a book New Fund Order which addresses technology, sustainability and fund governance issues.
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Thursday

• Exelerating Weekly Transfers week 8 with Railways Pension Scheme, LGPS – Derbyshire County Council Pension Fund and Compass Group Pension Plan
  Exelerating checks over 2000 web pages of pension funds, insurers and asset managers every day on relevant changes, including publications such as newsletters and annual reports. Within our “Weekly Transfers” section we show the most important changes in the organizations of Pension Funds of the past week: Compass Group Pension Plan Trustee Directors JoinedB.
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• Clara-Pensions appoints Steve Groves to its Board
  Clara Pensions publishes on its website:”Clara-Pensions, the member-first consolidator for defined benefit pension schemes, today announces it has appointed Steve Groves to be a member of its corporate Board.Steve brings more than twenty years’ experience in the UK retirement industry, including many C-Suite and Non-Executive Director positions. He currently holds the Chairman position at Key Retirement Group and Retirement Bridge and spent much of his career as Group CEO of Partnership, a specialist annuity insurer.Steve’s appointment follows that of Lawrence Churchill, former chairman of the Pension Protection Fund, who was made Chairman of the Clara corporate board in September.
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• Cardano announces new promotions
  Cardano publishes on its website:”Cardano, the investment and risk specialist, is delighted to announce the promotion of Tom Rivers to Partner. Since joining the firm in late 2016 as a Senior Investment Strategist, Tom has played an integral role in the growth and development of Cardano’s Investment Team and the firm’s investment strategies across global markets.In addition to the promotion of Tom Rivers, Cardano is also pleased to announce promotions within the manager research team.
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• State Street Names Lou Maiuri as its Chief Operating Officer
  State Street publishes on its website:”State Street Corporation, (State Street), NYSE:STT today announced that its board of directors has appointed Lou Maiuri, previously head of State Street’s Global Markets and Exchange businesses, to the role of Chief Operating Officer. In this capacity, he will have overarching responsibility for State Street’s IT, Global Delivery, Global Exchange, Charles River Development and Product teams.
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• Legal & General Hires Ed Houghton to Head Investor Relations
  Legal & General publishes on its website:”Legal & General Group Plc today announced that Ed Houghton has joined the company to lead its Investor Relations function. He will be supported by the current IR team of Alyssa Manning and Sujee Rajah.Ed was most recently Managing Director at Bernstein, where he covered European insurers and asset managers, co-heading a highly ranked sector team.
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Friday

• AMX marks two-year anniversary with three new hires
  AMX publishes on its website:”The Asset Management Exchange (‘AMX’), an institutional platform for investors and asset managers, has marked its second birthday with the announcement of three senior new hires.To coincide with the two-year anniversary and as part of the wider expansion plans, AMX has announced the appointment of Nick Horsfall as Managing Director in the Client Business Development team. In this role, Nick will be responsible for building client relationships with some of the largest and most advanced pension schemes in the UK.Nick will also work closely with the AMX Advisory Board and use his technical knowledge and experience to bring Liability Driven Investing (LDI) strategies onto the platform.
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• Michael Stiasny Appointed Manager of the M&G Dividend Fund
  M&G publishes on its website:”M&G today announces that Michael Stiasny has been appointed as the new fund manager of the £1.1 billion M&G Dividend Fund, with immediate effect.Stiasny brings a fresh approach to the 55 year-old M&G Dividend Fund, focusing on a higher yield similar to that of the £1.1 billion Charifund, which Stiasny manages for M&G’s charity clients. As well as focusing on higher yielding stocks, Stiasny will gradually increase the number of holdings in the portfolio to diversify the sources of income.
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