NYC Pension Head Calls on GM to Disclose Lobbying Practices
Scott Stringer accuses automaker of privately working against climate policies it publicly supports.
Asset Management Culture
MassMutual Reportedly Exploring $2 Billion Sale of Retirement Services
The life insurance company apparently no longer considers the DC plans integral to its business.
Harvard Says It’s Not Planning Layoffs, But Offers Early Retirement Packages
Other cost-saving proposals at endowment champ: voluntarily reduce vacation time or work hours.
Northern Trust Joins Asset Servicing Unit to BlackRock’s Aladdin
The Chicago firm is the latest to integrate its tools to the portfolio management software.
Fighting Climate Risk More Popular in Finance Industry Boardrooms, Survey Says
In GARP poll, 90% of boards were involved in sustainability efforts.
Exclusive: Oklahoma Police Pension Employees Return to Office
Staff members will follow sanitation and social distancing protocols required by the state, the executive director said.
Norway Pension Giant Dumps Nearly $3 Billion in Coal, Oil Stocks
However, weak krone erases over $438 million in value from now-excluded holdings.
CalSTRS Mandates More Money from State, Employers to Absolve Growing Deficit
The pension was about 66% funded before the COVID-19 pandemic.
BNY Mellon Pushes into Natural Language Generation
The financial services company joins others using the artificial intelligence technology to automate reports in nanoseconds.
Harvard Forecasts Big COVID-19-Related Losses and Enters Cost-Saving Mode
University projects a $750 million revenue shortfall in FY21 in light of the economic fallout of the coronavirus.
Oxford University Bans Fossil Fuel Investments
The endowment’s allocation to the energy sector has already been significantly reduced to 2.6% of its portfolio.
Tesla Recruits Former CIO of $1.5 Trillion Japanese Pension Fund GPIF
Hiromichi Mizuno joins Tesla to serve the board as an independent director and on its audit committee.
Too Rich to Need It? Top Colleges Back Away from US Virus Money
Harvard, Penn, Yale act after Trump administration says subsidies should go to less wealthy institutions.
State Education Budgets Fail to Keep Up with Pension Costs
Report says paying for pensions should come from sources other than education budgets.