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BNY MELLON
US corporate pensions funding gets a boost in July
Global Pensions | 05 Aug 2010
US – The funding status of US corporate pension funds improved nearly three percentage points in July on the back of strong global equity performance, BNY Mellon Asset Management says.
BNY Mellon lures BlackRock’s Arledge for asset management CEO post
US/UK – Curtis Arledge, former chief investment officer for BlackRock’s fundamental index portfolio, will join BNY Mellon Asset Management as vice chairman and chief executive.
Little leaves BNY Mellon Asset Management
US/UK – BNY Mellon Asset Management co-head and vice chairman Jon Little will leave the firm to join hedge fund Kedge Capital, a London-based alternatives firm.
OTHER BNY MELLON ARTICLES
Balanced pooled funds post first negative return of 2010
UK - Balanced pooled funds ended their run of positive quarters with a negative return of -8.9% for Q2 of this year, statistics revealed.
BlackRock AUM falls 6% in Q2, profits double
GLOBAL - BlackRock has reported a US$213.3bn loss in assets under management in Q2, blaming sharp falls in equity markets and costs related to its acquisition of BGI.
Appointments: BNY Mellon; Franklin Templeton; Dimensional
GLOBAL - BNY Mellon Asset Servicing has launched a new Global Financial Institutions (GFI) group to support clients within in the banking, mutual fund and insurance sectors.
BNY Mellon gets go-ahead for Korean discretionary management business
South Korea - BNY Mellon Asset Management is to offer discretionary management services in Korea after receiving approval from the country’s Financial Services Commission.
Wilkinson departs BNY Mellon Transition Management
GLOBAL – Mellon Transition Management managing director for Europe, the Middle East and Africa Tim Wilkinson has decided to leave the company to pursue other interests.
China state pension fund appoints Newton for equities mandate
CHINA/UK – China’s National Council for Social Security Fund (NCSSF) has awarded an active European equity mandate to Newton, a BNY Mellon Asset Management unit.
Cuomo sues BNY Mellon’s Ivy Asset Management
US – New York state attorney general Andrew Cuomo sued Bank of New York Mellon’s investment advisory unit Ivy Asset Management for allegedly misleading clients about investments tied to Bernard Madoff.
Fidelity lures BNY’s O’Hanley in reshuffle
US – Fidelity Investments has reworked its top ranks and brought in BNY Mellon Asset Management president and chief executive Ronald O’Hanley to lead its asset management business while expanding Abigail Johnson’s role to oversee distribution.
Gaining traction
Exchange trading of stock loans promises to inject a needed dose of transparency and liquidity into the securities lending business. Kris Devasabai reports on the latest developments
Equity holdings rise above 50% as schemes post record returns in 2009
UK - The average UK pension fund achieved a weighted average return of 14.4% for the year ending December 31, last year, latest BNY Mellon Asset Servicing figures revealed.
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