BlackRock Names Terrence Keeley Head of Official Institutions Group
BlackRock, the world’s biggest money manager, has hired Terrence Keeley to lead a unit overseeing relations with sovereign funds and central banks.
Newsmakers
BNY Mellon Allegedly Cheated MassPRIM Out of $20 Million in Foreign Exchange Trading
Massachusetts State Treasurer Steven Grossman and MassPRIM Executive Director Michael Trotsky in a June 13 press conference announced that the state’s $50 billion pension fund had been overcharged $20 million on foreign exchange trading by BNY Mellon.
Consultant Corner: Investment Outsourcing
From aiCIO Magazine's Summer Issue: Is investment outsourcing by consultants a conflict of interest, confusion of responsibility —- or neither?
Reasons Why You're Crazy
From aiCIO Magazine's Summer Issue: University of Chicago professor Eugene Fama's Efficient Market Hypothesis (EMH) has helped lead to a number of important developments for investors.
Norway’s SWF Bullish on Europe
Norway’s $570 billion sovereign wealth fund Norges Bank Investment Management is “very positive” about the long-term outlook for Europe despite fear over the growing debt crisis.
Alaska’s CIO Scott Leaves to Join Wurts
The $40 billion Alaska Permanent Fund CIO Jeffrey Scott announced June 13 that he will leave the sovereign wealth fund and re-enter the private sector.
Mexico's Pension System Ups Opportunities for Asset Managers
Mexico's pension regulator is allowing Afores to employ external managers to oversee a portion of their assets in order to gain added value in the international market, the Financial Times reports.
Questions Circulate Over Destruction of Evidence at CalPERS
CalPERS is facing scrutiny over its email deletion policy, with critics arguing that at government agencies, emails are considered public records.
Hewitt EnnisKnupp Bests Russell to Become CT’s Consultant
Connecticut Retirement Plans & Trust Funds has selected Hewitt EnnisKnupp over Russell Investments to replace Mercer as the fund’s consultant.
Large Asset Owners Urge Russell 1000 to Take Heed of ESG Risks
Asset owners managing $1 trillion—among them some of the most prominent US pension funds—have called on Russell 1000 companies to recognize the “new reality” of ESG risks.
NJ's Christie, Sweeney Approach Deal to Slash Pensions and Benefits
New Jersey Governor Chris Christie and Senate President Stephen Sweeney have reached a deal to overhaul state pensions and benefits for current public employees.
MassPRIM Sets Timetable to Cut Out Middlemen
MassPRIM’s board has approved a plan to choose its first 10 hedge fund managers who will manage roughly $500 million that had previously been allocated for hedge fund-of-funds.
TimberWest Looks Ready to Settle for Original Pension Suitors
As Vancouver-based TimberWest Forest Corporation nears the end of its 60-day “go shop” period, the company looks ready to accept the original $1.03 billion bid made by two Canadian public sector pension plans.
PIMCo Took Large Lehman Loss, Gross Shrugs
The Wall Street Journal has reported that Pacific Investment Management Co. lost $3.4 billion on its investment in Lehman Brothers but PIMCo head Bill Gross is unconcerned.
Goldman May Challenge Senate Report
Goldman Sachs is considering releasing documents about its mortgage bets that show that the Senate subcommittee's analysis, which has prompted an investigation of the securities firm, is inaccurate and incomplete.