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Dutch manager MN to cut 200 jobs as part of 4-year 'efficiency' program
trueDutch money manager MN has launched a four-year cost-cutting and efficiency program in the Netherlands that will include the loss of more than 200 full-time jobs, said a spokeswoman for the firm.
Mercer acquires Swiss private markets manager/consultant
trueMercer will acquire Swiss private markets manager and consultant SCM Strategic Capital Management, strengthening its alternative investment capabilities.
Amundi appoints deputy CEO for alternatives business
trueMichael Hart joined Amundi’s alternative investment unit as deputy CEO and global head of business development, a spokeswoman said.
U.S. real estate still attractive to foreign institutional investors
trueForeign capital is flooding into U.S. real estate despite lower return expectations.
Eurozone shows modest growth in quarter
trueThe eurozone economy grew 0.2% in the three months ended Sept. 30, with diverse contributions across member states as fiscal and structural reforms move at different rates.
Danish pension fund goes with 5 managers for fixed income
trueLonmodtagernes Dyrtidsfond, Frederiksberg, Denmark, hired five managers to run more than 20 billion Danish kroner ($3.35 billion) in fixed income.
Regulators levy $4.4 billion in fines on banks for forex manipulation
trueCitibank, HSBC, J.P. Morgan Chase, Royal Bank of Scotland and UBS received a combined $3.4 billion in penalties from U.S., U.K. and Swiss regulators for manipulating foreign exchange benchmark rates to benefit certain traders from 2008 to 2013.
Finnish pension fund picks Pantheon for €100 million commitment
trueValtion Elakerahasto hired Pantheon to run a €100 million ($124.8 million) commitment to emerging markets private equity.
Munro shaking up Aviva Investors
trueEuan Munro, CEO at Aviva Investors, has made big changes not only to investment processes, but also to personnel, in his quest to bring the money manager to the forefront of institutional decision-makers' minds.
NAPF CEO: Take the politics out of retirement savings
truePoliticians across Europe should move to take the politics out of retirement savings, and look instead at the bigger picture of problems with a lack of retirement savings, said Joanne Segars, CEO at the U.K.’s National Association of Pension Funds.
Deutsche Bank appoints head of custody and clearing
trueElizabeth Nolan was named head of custody and clearing at Deutsche Bank's institutional cash and securities services unit, the bank's European custody business.
ERAFP taps AXA Investment Managers for SRI bond strategy
trueL’etablissement de Retraite Additionnelle de La Fonction Publique, Paris, hired AXA Investment Managers to run a U.S. dollar-denominated socially responsible investment bond portfolio.
Dutch pension funds prepare for new regulatory changes
trueThe legislation that governs pension funds in the Netherlands, the Financial Assessment Framework, is moving pension funds “from less certain to certainly less."
European Commission cuts growth forecast
trueReal GDP growth is expected to be 1.3% in the European Union and 0.8% in the euro area in 2014, revised downward from six months ago when growth was forecast to be 1.6% and 1.2%, respectively.
Towers Watson: Benchmark index for pension plans drops in 5 of 7 markets
trueIndex results for benchmark corporate pension plans in five major regions fell in the third quarter because of falling interest rates and modest investment returns, said Towers Watson's quarterly report.