Tidy profit for Workspace sale

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Classes on coping with a red devil

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People moves: Hermes, Invesco hire to boost Nordic presence [updated]

first_imgEthos Services/Ethos Foundation – The Swiss proxy voting service Ethos has confirmed two new chairs for for the two parts of its business. Rudolf Rechsteiner was elected to chair the Ethos Foundation, while Beth Krasna was appointed chair of Ethos Services.The pair replace Dominique Biedermann, who previously held both roles but chose not to stand for re-election. He has worked for Ethos – which is wholly owned by Swiss pension funds – for 21 years.Biedermann had been criticised recently because his wife Yola is head of Ethos’ corporate governance department. The perceived “shortcomings in corporate governance” had led one pension fund to quit Ethos. It has indicated it could reverse this decision after Beidermann’s exit.Invesco – The Atlanta-headquartered investment management group has boosted its Nordic sales team with the appointment of two senior sales managers. Stefan Behring has been appointed head of Nordics institutional sales and Matthias Hagen will join on 18 June as head of retail sales.Invesco said the hires further cemented the expansion of both the institutional and retail arms in the region. Behring joins from JP Morgan, where he was client adviser and executive director, while Hagen joins from Goldman Sachs, where he was executive director for third party distribution for the Nordic region.BpfBouw – The €56bn pension fund for the building sector has appointed Annemarie de Beun as co-head of its administrative bureau. David van As, who has headed the bureau since 2011, is to become general director.De Beun, who was the bureau’s secretary, is to continue as operational manager. She joined BpfBouw in 2017 from the €8.8bn pension fund for disabled workers in a sheltered environment (PWRI), where she was temporary director since the departure of Frans Prins at the end of 2016.Martin Currie – Julian Ide has joined the active equity specialist as head of distribution and strategy with a brief to broaden the company’s global distribution capability across geographies and solutions. Ide was formerly CEO of Source ETF, which was bought by Invesco last year, and also previously led Old Mutual Global Investors as chief executive.Martin Currie said that Ide, who has also held senior positions at Credit Suisse and ABN Amro, will have “responsibility for developing our forward strategy” alongside CEO Willie Watt.Natixis Investment Managers – The asset management arm of the French corporate and investment bank has appointed Sebastian Römer as head of sales for central and eastern Europe (CEE). He also has a brief to focus on Germany, Austria, Switzerland.Römer joins Natixis from PIMCO, where he was responsible for institutional clients in Germany. He previously worked for private equity firm Apax Partners, and started his career at McKinsey & Co in Zurich.Gresham House – Heather Fleming has joined the specialist alternatives asset manager in a newly created position of head of institutional business. Formerly at Fidelity International as head of institutional distribution for UK and Ireland, Fleming will initially focus on Gresham’s British Strategic Investment Fund, with a further remit to look into developing the company’s institutional offering and fundraising capabilities.The British Strategic Investment Fund was launched last year with the Berkshire Pension Fund as a cornerstone investor. Berkshire also owns a 20% stake in Gresham House.Nuveen – Rune Sanbeck has joined the investment management arm of TIAA, the US asset manager, as head of international advisory services for Europe, the Middle East and Africa (EMEA).Reporting to John Panagakis, the firm’s global head of international advisory services, Sanbeck will lead Nuveen’s push across the EMEA region. He joins the firm from Dimensional Fund Advisors, where he was head of the Nordic region for institutional business, iShares and retail. Fulcrum Asset Management – The multi-asset investment group, which oversees £4.4bn of assets, has appointed Chris Gower as director of global consultants and pension funds. Briefed to bolster Fulcrum’s relationships with consultants and pension funds on a global basis, Gower joins the firm from First State Investments where he had served as EMEA head of client and consultant relations. He had previously worked for HSBC Global Asset Management, Lane Clark & Peacock and Aon Consulting.Schroders – The global investment manager has moved to bolster its solutions business with the appointment of Patrick O’Sullivan as a strategist based in London and the transfer of solutions manager Edward Studd to New York.O’Sullivan, previously a portfolio strategist at JP Morgan Asset Management, will report to Neil Walton, head of investment solutions. Studd, who will work under Seth Finkelstein, head of US portfolio solutions, will focus on developing risk-managed solutions for North American pension clients.Sycomore Asset Management – Francesca Mozzati has joined the boutique investment house as head of institutional sales. She will be responsible for developing the company’s presence in southern Europe, with a particular focus on Italy. She was previously part of the marketing team at French bank BPCE, and has also wored at Natixis where she was head of equity sales for Italy for 12 years.Research Affiliates – The smart beta and asset allocation company has bolstered its social responsibility and governance team with the appointment of Alex Edmans, a professor at London Business School, as an adviser. In his new role, Edmans will work in particular on developing implementation tools for environmental, social and corporate governance (ESG) strategies.Edmans will retain his affiliation with the London Business School and remain as editor of The Review of Finance and a research fellow of the Centre for Economic Policy Research think-tank.BNY Mellon – The investment services giant has hired Stephan Koschmieder has joined the company as head of business development for the Germany, Austria and CEE region. In this newly created role, based in Frankfurt, he is responsible for growing the company’s custody, depositary and fund accounting services.He was previously at Euroclear where he worked for 11 years, latterly as director and unit head for sales and relationship management. BNY Mellon also recently hired Katherine Starks as head of asset servicing for Germany, Austria, Switzerland and the CEE region. Dennis Presburg, head of asset servicing business development for northern Europe, said increasing BNY Mellon’s presence in Germany was a “key strategic priority” for the group. Hermes Investment Management, Ethos Services, Invesco, BpfBouw, Martin Currie, Natixis Investment Managers, Gresham House, Nuveen, Fulcrum Asset Management, Schroders, Sycomore Asset Management, Research Affiliates, BNY MellonHermes Investment Management – Magnus Kristensen has moved to the fund manager, which was partially sold to Federated Investors in April this year, as director of business development for the Nordic region.Kristensen joins from Jyske Bank, where he had numerous responsibilities, including overseeing client acquisitions and maintenance, as well as leading a team of client relations managers.Hermes, which has £33.6bn (€38.2bn) of funds under management and was formerly majority owned by BT Pension Scheme, said Kristensen would help to expand the business throughout the Nordic region, a core market for the company.last_img read more

OGIC signs 75th project in last four years

first_imgUK’s Oil & Gas Innovation Centre (OGIC) has signed its 75th project, increasing its total investment into innovative technology over the last four years to £3.8 million ($5 million).OGIC said on Monday that the latest project came as the Centre finalized agreements on five new technologies with the potential to cut operational costs and improve efficiency in the oil and gas industry.The new projects will see five companies working with Scottish universities to develop innovative technology with direct applications to current industry challenges and represent a £330,000 investment by OGIC.In the first project, TechnipFMC Umbilicals is working with the University of Aberdeen to develop a load-bearing connector for use with power umbilicals containing high strength aluminum conductors.According to OGIC, the design will see the need for ancillary strength members alleviated or eliminated. Phase one of the project has been successfully completed and an initial design for the connector is underway. Phase two will see the University of Aberdeen investigate the design of the connector through analysis and testing, to gain knowledge of both mechanical and electrical performance requirements.Project number two is conducted by the Weir Group in partnership with Heriot-Watt University’s School of Engineering and Physical Sciences for the development of a barrier layer of 2D Nanomaterial for elastomers to reduce gas permeation.This technology should allow easier and safer access to high pressure and high-temperature oil and gas reserves. An initial evaluation to determine the feasibility of 2D Nanomaterial as an additive to polymer coatings has been completed. The project will see further permeation studies taking place to develop an understanding of how the technology will work.The third project will involve Balmoral Group working with the University of Edinburgh to investigate the potential use of new materials, which can be integrated into Balmoral’s current line of subsea ancillary products.The Getech Group is also working with the University of Glasgow and University of Strathclyde to investigate the conditions under which granites and all crystalline based basement rocks weather and fracture, to a degree that transform them into potential hydrocarbon reserves. This could increase the opportunities to exploit unconventional reservoirs, crucial in the UKCS, due to the decrease in traditional basins.In the final project, N-Sea is working with the University of Strathclyde to develop technology that carries out automatic annotation of subsea video and auxiliary data. Feasibility has been proven and the next step is the testing of a prototype.Ian Phillips, OGIC CEO, said: “We are very excited to have signed our 75th project agreement, reaching this milestone highlights the willingness there is in the industry to invest in new technology and take part in R&D.“The five new projects we have recently supported are all vastly different but demonstrate that there is an appetite across the industry to find innovative solutions to challenges facing the sector. Each of these projects have the potential to result in real cost savings for companies and emphasize the range and scope of projects which OGIC can support.”last_img read more

Trinidad DPP to determine criminal charges against former CL Financial executives

first_img Sharing is caring! Attorney General Anand Ramlogan PORT OF SPAIN, Trinidad — The Director of Public Prosecutions (DPP) Roger Gaspard has been asked by Trinidad and Tobago Attorney General Anand Ramlogan to determine if criminal charges should be laid against former CL Financial executives Lawrence Duprey and Andre Monteil.Ramlogan on Wednesday directed that all files relating to the probe into the collapse of insurance giant CLICO be forwarded to the DPP.Ramlogan’s action follows the civil lawsuit filed Tuesday by the Central Bank and CLICO against Duprey and Monteil for alleged mismanagement and misappropriation of CLICO assets, which led to the fall of CLICO in January 2009.In an interview with the Trinidad Express, Ramlogan vowed that government will leave no stone unturned to ensure justice for thousands of CLICO policyholders who were affected by the collapse of the company.“I have directed that all information acquired as a result of the probe conducted for these civil cases be shared with the DPP in the hope that it may be of some assistance. The government has no control for criminal prosecution, that is a matter for the DPP based on evidence unearthed by proper police investigations,” Ramlogan said.“We intend to pursue a number of high profile scandals (not limited to CLICO) that rocked the last administration. More will be said about this in the coming months,” he said.Ramlogan said the CLICO “case will raise the propriety of various property transactions and energy transactions and the sale to (Andre) Monteil’s Stone Street of seven million HMB (Home Mortgage Bank) shares which had been the subject of much public controversy.”He said that fraud expert John Powell QC, together with Leigh Ann Mulcahy, will lead a team of five lawyers on behalf of the Central Bank.“It is the first of what shall be a series of actions to be filed in the CLICO fiasco. Any and or all allegations of wrongdoing shall be put before the court to determine whether the evidence warrants judicial intervention and remedy,” said Ramlogan.“The government intends to vigorously assert its rights in this matter in the public interest so that any allegation of wrongdoing and misconduct can be properly ventilated,” he continued.“It is clear that CLF became increasingly a behemoth built on debt. Insurance companies must be operated and managed prudently and competently to safeguard the interest of its policyholders,” Ramlogan added.“At some stage, it was clear that CLICO’s assets did not match its liabilities in order to generate the sums needed to pay the rates of return contractually due to policyholders and mutual fund investors,” he said.“The government empathises with the distressed and traumatised depositors and policyholders and intends to leave no stone unturned in its quest for justice on their behalf in this matter,” Ramlogan said.In 2009, the then-PNM government and the Central Bank took control of CLICO after the company could not repay several billion dollars owed to policyholders and creditors of the country’s largest insurance company.Caribbean News Now Share Share 37 Views   no discussionscenter_img NewsRegional Trinidad DPP to determine criminal charges against former CL Financial executives by: – June 10, 2011 Tweet Sharelast_img read more

Robert J. Feller, age 94

first_imgRobert J. Feller, age 94, of Richmond, Indiana and a former long time resident of Brookville, Indiana died Tuesday, April 19, 2016 at Brookdale Senior Living in Richmond, Indiana. Born June 2, 1921 in Brookville, Indiana he was the son of the late Ernest & Katherine M. (Gillman) Feller. On May 5, 1945 he and the former Marjorie M. Lang were united in marriage, and she preceded him in death on August 6, 2009. He was a U.S. Army Air Corps Veteran of World War II, having served with the 492ND Bomb Group, He was a recipient of the Purple Heart, as well as the Air Medal with 4 Oak Leaf Clusters. Mr. Feller was retired from Whitewater Publications in Brookville where he had served as Publisher of the Brookville Democrat and Brookville American Newspapers. He was a member of St. Michael the Archangel Catholic Church in Brookville, the Knights of Columbus Council #1010 of Brookville where he was past Grand Knight; the Bernard Hurst Post #77 of the American Legion; and had been a former member of the Brookville Town Board. Survivors include a daughter & son-in law, June (William) Dittlinger of Sulpher Springs, Indiana, a son & daughter-in-law, Robert G. “Jerry” (Karen) Feller of Richmond, Indiana; five grandchildren, fifteen great-grandchildren; two brothers, Arthur Feller of Green Valley, Arizona and Harold Feller of Brookville, Indiana. Besides his parents and wife, Marjorie, he was preceded in death by an infant sister. Family & friends may visit from 4 till 7:00 P.M. on Friday, April 22, 2016 at Phillips & Meyers Funeral Home, 1025 Franklin Avenue, Brookville; where the Rosary will be recited at 7:00 P.M.. The Mass of Christian Burial will be celebrated at 10:30 A.M. on Saturday, April 23, 2016 at St. Michael the Archangel Catholic Church, 145 St. Michael Blvd., Brookville. Burial with full military graveside honors by the Bernard Hurst Post #77 of the American Legion will follow in St. Michael Catholic Cemetery in Brookville. Memorial contributions may be directed to St. Michael the Archangel Catholic Church. Phillips & Meyers Funeral Home is honored to serve the Feller family, to sign the online guest book or send personal condolences please visit www.phillipsandmeyers.comlast_img read more

Andy Beck

first_imgAndy Beck, age 65 of Batesville, died Sunday, February 12, 2017 at Christ Hospital in Cincinnati.Born May 25, 1951 in Silver Spring, Maryland, he is the son of Kitsy (Nee: Swain) and Allen Beck.  He married Mary Jo Holtel November 23, 1990.  A member of the Sons of the American Legion Post #271, the Sons of the Veterans of Foreign Wars Post #3183 and the Knights of Columbus Council #1461, Andy was owner and chef of Beck’s Grillin’ and Catering.Most will remember Andy’s infectious smile and his cigar.  He was most definitely a people person with a passion for entertaining.  Andy liked gatherings of family or friends and his BBQ ribs will surely be missed.  Cooking was his way of expressing his friendship and affection.  It was his nature to bring meals to neighbors and family members in times of need.  For as talented a cook as he was, Mary Jo explained baking wasn’t his forte.  The only baking he did was peanut butter cookies and crème brulee, which also happened to be about the only sweets he cared for.  She also said the house was never quiet.  A talented drummer with a good voice, Andy loved all types of music.  So if music wasn’t filling the house, then it was one of several T.V.’s that would be on.  Some of Andy’s other interests included I.U. Basketball, the Washington Redskins, golfing, as well as being an avid card player.  He enjoyed playing 500 and Bridge.He is survived by his wife Mary Jo; sisters and brother-in-laws Kathleen and Barry Hurwitz of Columbia, Maryland, Cindy and Pat Reddell of Ft. Worth, Texas; brothers and sister-in-laws Alan and Ginger Beck of Eugene, Oregon, Jim and Todd Beck of Batesville and numerous nieces and nephews.  He is preceded in death by his parents.Visitation is Thursday, February 16th, from 4 – 7 p.m. at the Weigel Funeral Home.  Funeral services are 11 a.m. Friday, February 17th, at the funeral home.  Burial will follow in Holy Family Cemetery.  In lieu of flowers, the family requests memorials to Safe Passage or the Hansen Center (Margaret Mary Health Foundation’s Cancer Care Fund).last_img read more

Regulations for catching some Ohio River fish change

first_imgThe Indiana Department of Natural Resources has amended regulations for catching sauger, walleye, and saugeye on the Ohio River.The new rule, which will take effect Jan. 19, permits a bag limit of six Sander species, the collective term for these fish, in aggregate per day, a possession limit of 12 Sander species in aggregate, and a minimum length limit of 14 inches. Previous regulations permitted the take of 10 Sander species in aggregate per day, a possession limit of 20 Sander species, and had no minimum length limit. This DNR emergency rule aligns Indiana regulations for the Ohio River with new Kentucky regulations.Sauger is the most sought after sport fish of the Sander species on the Ohio, and is prized as excellent table fare. During the winter and early spring, sauger congregate downstream of dams and provide prime angling opportunities; however, high harvest rates anglers are experiencing are not allowing the sauger population to reach its full potential.The Ohio River Fisheries Management Team (ORFMT) analyzed long-term survey data and recommended these regulations in 2019 in an effort to increase the size and age structure and therefore the quality of the Ohio River sauger fishery as a way to ensure the sauger population remains sustainable for future generations.last_img read more

Police Blotter 07-18-2020

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Jezki delivers in Hatton’s Grace

first_imgJezki threw his hat into the ring for this season’s Champion Hurdle with a solid if unspectacular victory in the Hatton’s Grace Hurdle at Fairyhouse. “The owner has got My Tent Or Yours as well, so I suppose it will all depend what they want to do. “We’ll let the dust settle before we make a plan.” Paddy Power left Jezki unchanged at 8-1 for the Champion Hurdle behind The New One, My Tent Or Yours, Our Conor and Hurricane Fly. The supplemented The Tullow Tank played a starring role in the Bar One Racing Royal Bond Novice Hurdle. Philip Fenton’s 5-1 shot stuck on gamely to edge out the front-running Renneti by half length to give Danny Mullins another Grade One victory.. Paddy Power cut The Tullow Tank to 12-1 from 16-1 for the Neptune Investment Management Novices’ Hurdle at Cheltenham and also introduced him into the Supreme Novices’ Hurdle betting at 16-1. Fenton, however, is not sure about a trip to Prestbury Park. “He looked to be a good horse and he proved it today. He had a battle on his hands from the second last and he saw it out well,” said the trainer. “We’ll take it one step at a time. Going right-handed is a big plus to him, as he does go a little right. “He could go left-handed back at Leopardstown, but it will be probably be January before he runs again. “I don’t know about Cheltenham. First of all it’s left-handed and the ground will have a big bearing as well. “If he goes left-handed in Leopardstown, we’ll have a fair idea after that.” Fenton went on to complete a double as 9-4 shot Value At Risk made all the running in the concluding bumper. “He could be a very good horse and we’ll just stick to bumpers with him this season,” said Fenton. “I think Cheltenham would be on his agenda – that could be a way to ruin him!” Gordon Elliott’s pride and joy Don Cossack (13-8 favourite) finally grabbed the big prize he has always promised with a determined victory over Galway Plate hero Carlingford Lough in the Bar One Racing Drinmore Novice Chase. Davy Russell looked booked for third at the second last on the imposing six-year-old but he stuck on gamely. Elliott said: “I’m delighted he’s won. Punchestown knocked the edge off him. He struggled a bit from five out (today). “He’s a smashing big horse. I’ve been very lucky Gigginstown have given me a lot of nice horses to train, so it’s great to win a Grade One for them. “He won’t go anywhere over Christmas. He might go to Leopardstown at the end of January. “I’m not sure he’s an out and out three-miler myself.” While out of luck in the two Grade One races in which he was represented, champion trainer Willie Mullins did not leave empty handed, with Ruby Walsh steering 3-10 favourite Analifet to a hugely impressive victory in the Bar One Racing Juvenile 3-Y-O Hurdle. The filly is 10-1 favourite with Paddy Power for the Triumph Hurdle. Mullins said: “It was a good performance and I’m delighted with her. It was a quick time on quick ground and she was able to handle that. I think soft ground won’t be any worry to her either. “I’ll probably look at Leopardstown at Christmas with her.” She’s Got Grit was a 7-1 winner of the Irish Stallion Farms E.B.F. Mares Handicap Chase, while bold-jumping grey Thelobstercatcher (7-1) claimed the Bar One Racing Porterstown Handicap Chase. The five-year-old travelled through the contest like much the best horse in the race, but the front-running Diakali did not fade tamely and last year’s winner Zaidpour was also staying on doggedly on the run to the final flight. A small mistake from Jezki briefly gave his rivals hope, but once shaken up the market leader asserted his authority, scoring by a length and three-quarters from Zaidpour. McCoy, on board My Tent Or Yours at Newcastle, was unsurprisingly none too keen on comparing the pair, but once again confirmed his opinion that both had some way to go before they could think about getting the better of Hurricane Fly. “It was a good enough performance. He’s done it pretty well and was very professional,” said the champion jockey. “He’s a bit like the horse that won yesterday (My Tent Or Yours). They are good novices from last year, but they have to improve to beat Hurricane Fly.” Harrington said: “The horse going off miles in front is not good for the nerves, but he made the ground up easy. “He proved he gets two and a half miles and that’s the main thing, but he’d be better over a fast run two miles. “He’s definitely better going left-handed and we’ll keep him at two miles. Jessica Harrington’s stable star is one of a host of smart youngsters looking to topple dual Champion Hurdle hero and 17-times Grade One winner Hurricane Fly this season, with My Tent Or Yours, like Jezki owned by JP McManus, shooting to prominence with a dominant display in Saturday’s Fighting Fifth Hurdle at Newcastle. Jezki stepped up to two and a half miles for the first time for this assignment and was 4-6 favourite in the hands of Tony McCoy. Press Associationlast_img read more