Biden Backs Debt Ceiling Increase, Proposes Higher Tax on Buybacks
President pledges to protect Social Security and Medicare and asks Congress to 'finish the job' on many of his priorities.
Newsmakers
Norway’s Pension Giant Adds Chinese, Indian Firms to Exclusion List
Pension fund accuses AviChina, Bharat Electronics of selling military equipment to Myanmar’s armed forces.
More Than 100 Investment Organizations Sign CFA’s Diversity Code
Top-flight entities, from CalPERS to Cambridge Associates, pledge to boost DEI and track their progress.
Peter Branner Hired to Assume CIO Role at Abrdn
Abrdn, the Scotland-based global investment company, has appointed Peter Branner as CIO, effective May 1.
LACERA Issues RFP for System’s Real Assets Emerging Manager Program
The $67.6 billion pension system is seeking a discretionary separate account manager to implement the Real Assets Emerging Manager Program.
Preparing an Internal Successor Requires ‘Looking to the Future’
A case study on internal CIO succession, with Carol Tusch replacing Bob Hunkeler at International Paper.
Bloomberg Settles SEC Charges of Misleading Pricing Disclosures
Firm pays $5 million fine related to its BVAL service’s fixed-income pricing.
25 States and 3 Fossil Fuel Industry Actors Sue to Block DOL Rule Permitting ESG Investing
The lawsuit seeks an injunction against the rule, set to take effect Monday, which would allow ESG considerations in retirement plan investment decisions.
NYC Pension Funds Call for Greenhouse Gas Disclosure From 4 Major Banks
Shareholder proposals have been filed with Bank of America, Goldman Sachs, JPMorgan Chase and Royal Bank of Canada.
State & Municipal Treasurers Publish Letter Encouraging McCarthy to Make Deal on Federal Debt Ceiling
They say a default would be ‘catastrophic’ and devalue portfolios, damaging pension funds and 401(k) plans.
NYC Pension Fund-Led Group Strikes Deal With Apple on Workers’ Rights to Organize
Tech giant agrees to publish independent assessment on employees’ rights to unionize.
CalPERS Commits $1 Billion to Boost Diversity Among Alts Managers
The pension giant is investing $500 million in both TPG’s Next Fund and GCM Grosvenor’s ‘Elevate’ strategy.
Teachers’ Retirement System of Illinois Issues RFP for Investment Consultant
The $60.7 billion pension system is seeking a firm to assist in investment decisions after RVK’s 5-year term expires this year.
Norges Bank Investment Management Launches Climate Advisory Board
Group will advise Norway’s $1.3 trillion sovereign wealth fund on climate-related financial risks.
New York State Comptroller Calls for Political Spending Disclosures
Thomas DiNapoli files shareholder proposals with nine companies held in the state pension fund’s $233.2 billion portfolio.