Global Pensions |
28 May 2010 |
As Italy has largely ignored transition management, Giovanni Legorano looks at the reasons for this and asks if this is set to change in the near future
Newly stringent demands from investors and regulators have seen a wholesale uptick in independent derivatives valuation with an increase in both scale and rigour. Sophia Morrell reports
ITALY – Italy’s largest pension fund Fondo Cometa has appointed BNP Paribas as its new custodian for its €5bn (US$6.8bn) portfolio.
GLOBAL – Featuring news from the US, France, UK, and the Netherlands.
Caroline Allen looks at how strong emerging markets are driving interest from institutional investors
EUROPE – Crédit Agricole S.A. and Société Générale today announced their new merged asset management firm will be called Amundi.
ITALY – At least two Italian pension funds have dropped Monte dei Paschi di Siena (MPS) as custodian after Intesa San Paolo’s (ISP) acquisition of the firm’s custodian business led to conflicts of interests in their manager line-ups.
GLOBAL – Expansion will become the dominant driving force of mergers and acquisitions in the global asset management sector, according to Jefferies Putnam Lovell.
FRANCE – Jean-Pierre Mustier, a 22-year veteran at Société Générale (SocGen), and head of the firm’s asset management and private banking arms, has resigned amid allegations of insider trading.
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