Former Employee Accuses IBM of ‘Imprudent’ PRT Decision
IBM and State Street stand accused of putting cost savings ahead of retirees’ security by handing $14 billion in pension obligations to a Prudential unit.
News
Franklin Templeton Snags Daniel Gamba From Northern Trust
The asset management executive was appointed as co-president and chief commercial officer.
Shell to Outsource $40B in European Pension Assets to Goldman Sachs
The mandate is one of the largest for the asset manager, which oversees $450 billion in OCIO assets.
Assets of Largest Pension Funds Rise to Record $24.4T
The largest 300 defined contribution and defined benefit plans saw their assets surpass their peaks in 2021.
Texas ERS Appoints Amy Cureton as Director of Real Assets
Cureton succeeds the retired Bob Sessa in the role.
Chris Hogbin Named CEO of Lazard Asset Management
Hogbin, currently the global head of investments at AllianceBernstein, will succeed Evan Russo in December.
Oregon PERF Posts 3.2% Q2 Return
The $95 billion Public Employee Retirement Fund outperformed its benchmark by 2 basis points.
Colgate-Palmolive Longstanding Pension Calculation Case Settles for $332M
The agreement, which covers 1,177 employees, followed nine years of litigation.
Northern Trust Asset Management Co-CIO Named President
Michael Hunstad, who has headed quantitative strategies and global equities for the firm, succeeds Daniel Gamba.
Alts Manager Rithm Capital to Acquire Private Credit Shop, Annuity Provider
The firm’s purchase of Crestline Management would create a $53 billion AUM alternative investment platform.
Dutch Pension PZFW Terminates BlackRock, AQR, L&G Mandates Amidst Portfolio Reshuffle
The trio were dropped as equity managers as the fund looks to active investing.
Aon Sells Major Stake in NFP Corp. Wealth Business to Madison Dearborn
The $2.7 billion deal is expected to close in the fourth quarter of this year.
Anup Agarwal Named CIO, Head of Ares Insurance Solutions
The insurance boss previously oversaw $200 billion at Global Atlantic.
Fidelity Looks to Expand in Asset Tokenization
The firm recently listed a tokenized money market fund.
A New Dawn for Digital Assets: From Uncertainty to Action in the US
Changes in Washington have made it clear ‘we’ve entered an era of building,’ writes the CIO of a sovereign fund.