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People moves: Standard Life Aberdeen scraps co-CEO model [updated]

first_imgGilbert will move to become vice-chairman of Standard Life Aberdeen and chairman of Aberdeen Standard Investments, while retaining his seat on the company’s board as an executive director.“In this role, Martin will be able to focus solely on our strategic relationships with key clients, winning new business and realising the potential from our global network and product capabilities,” the company said.Gilbert and Skeoch have shared the chief executive role since the 2017 merger of Aberdeen and Standard Life . Meanwhile, chief financial officer Bill Rattray is to retire from the board on 31 May. He was first appointed finance director at Aberdeen in 1991 and has worked at the group for 34 years. He will be replaced as CFO by Stephanie Bruce, subject to regulatory and shareholder approval. She is currently a partner at PwC.Richard Mully is also to retire from the board after the next annual general meeting in May. He has worked for Aberdeen since 2012 as a director.ABP – The Netherlands’ biggest pension scheme has appointed industry veteran Loek Sibbing to its board with immediate effect, representing employers. He fills the vacancy left by Erik van Houwelingen, who left for Dimensional Fund Advisors in August.Between 2010 and 2014, Sibbing was chief executive of Univest Company, the asset manager for Unilever’s 80 international pension funds. Prior to this, he was CEO of Unilever’s Dutch defined benefit scheme Progress, and has also led the pension funds of construction company Volker Wessels and temporary employment firm Randstad.In 2014, he became chief executive of the Dutch Investment Institution (NLII), tasked with developing investment opportunities in the real economy on behalf of the 10 largest Dutch institutional investors. Sibbing has also been chairman of the Dutch industry organisation for company pension funds (OPF), which later merged into the Pensions Federation, and has served on the board of European lobbying organisation PensionsEurope.Separately, the €399bn civil service scheme has also appointed Krista Nauta to its board, also as an employer representative. She joins from the €215bn asset manager and pensions provider PGGM, where she was a senior policy adviser and strategic product manager since 2013. Nauta succeeds Joop van Lunteren who left on 1 March.Aviva Investors – The €388bn investment house has hired Paul LaCoursiere as global head of ESG research, a newly created role. He will be responsible for the group’s ESG research process as well as the integration and monitoring of ESG criteria within equities and credit. He will jointly lead the research team with Mirza Baig, global head of governance, who is responsible for ESG integration across Aviva Investors’ multi-asset and real assets units.LaCoursiere was previously Aviva Investors’ global head of corporate research, having rejoined the firm in 2014 following a year running fixed income at Chicago Equity Partners. He was a fixed income portfolio manager at Aviva Investors between 2010 and 2013.Meanwhile, Oliver Judd and Kevin Gaydos have been named co-heads of credit research. Judd is based in London and has worked for Aviva Investors since 2006, while Gaydos is based in Chicago and joined the company in 2008.BMO Global Asset Management – The $260bn (€230bn) investment house has made a trio of hires to its responsible investment team. Nina Roth joins from German development agency GIZ as a director, having previously worked at Deutsche Bank and UBS. Alan Fitzpatrick joins as a product specialist from Hermes EOS, while Derek Ip joins as an ESG analyst having previously worked at groups including Trucost, the Climate Bonds Initiative, and RESET Carbon. Nikko Asset Management – Takumi Shibata has decided to step down as president and CEO of the $201.8bn Japanese asset manager, effective 1 April. He has worked at the company since 2013 and was appointed CEO in 2014.Hideo Abe and Junichi Sayato will be appointed as co-CEOs, the company announced. Abe will also hold the title of president and Sayato the title of chairman.Cardano Group – Darren Redmayne has been appointed to the Anglo-Dutch investor’s management board. He is CEO of Lincoln Pensions, a covenant advisory specialist firm that he founded in 2008 and that was acquired by Cardano in 2016. Prior to founding Lincoln Pensions, Redmayne spent 10 years at Close Brothers, and was seconded to help set up the UK’s Pensions Regulator.Last month Cardano announced it had agreed to acquire auto-enrolment master trust NOW: Pensions from Denmark’s ATP for an undisclosed sum.MJ Hudson Allenbridge – The UK consultancy group has appointed Norbert Fullerton as a senior adviser. He joins from Mercer where he was a partner in the company’s wealth consulting and solutions business. He also advised on strategy for defined benefit pension scheme clients. Fullerton also previously worked at Russell Investments and Willis Towers Watson.MSCI – Lee Phillips has joined the index provider as head of EMEA fixed income and country head for the UK and Ireland. He joins from FTSE Russell where he was a managing director in global strategic account management. He previously held senior index sales roles at Barclays and Lehman Brothers.Danica Pension – Heidi Verup has been appointed as the new director for private clients at the DKK566bn (€76bn) pensions provider and subsidiary of Danske Bank. She replaced Britta Bjerregaard who worked at the Danish pension fund for just over a year. Verup previously worked at the Danish financial group Alm Brand from April 2017 as a partner and director, where she managed a team of 10 people. In her new role with Danica she will be managing a team of 120.Invesco – Charles Moussier has joined the $945.7bn asset manager as head of insurance investment solutions for the EMEA region, tasked with developing Invesco’s insurance business.He was previously executive director for the investment banking division of Natixis, responsible for developing the company’s financial institutions advisory business. He has worked for AXA Group as deputy head of global investment solutions, and has held senior roles at Crédit Agricole and AXA RE.MUFG Investor Services – Mitsubishi UFJ Financial Group’s asset servicing arm has appointed Bruno Bagnouls as managing director and head of private equity and real assets in Luxembourg. He joins from TMF Group where he was group head of private equity and real estate. He has over 20 years of experience with fund and corporate services providers.Legal & General Investment Management (LGIM) – Claire Aley has joined as head of product and investments business management. She was previously head of product strategy and development at Hermes Investment Management, and has held senior roles at Highclere International Investors, Next Financial and Mason Stevens.In her new role, Aley will be responsible for oversight of LGIM’s global product strategy, development and management functions as well as business management for the investment teams.Hymans Robertson – Catherine McFadyen has been promoted to head of actuarial, benefits and governance for UK local government pension schemes at the consultancy. She has been with Hymans Robertson since 2003, and is a partner in the firm.Nomura Asset Management – The UK arm of Nomura has hired Anne Dillé-Weibel as business development director and Leigh Fisher as business development manager as it looks to strenghten its EMEA distribution. Dillé-Weibel joins from BNP Paribas Asset Management where she was head of alternative sales, while Fisher joins from Investec Bank where she was a senior sales manager. Intervalor – Thomas Bolvig  has been taken on by Nordic asset management marketing company Intervalor as client executive. Bolvig will be based in Copenhagen as the company attempts to increase its presence in Denmark through senior-level recruitment. Bolvig comes to Intervalor from Danske Capital, where he was head of business development for Benelux. Prior to this, he worked for Danish financial services company Nykredit and Swedish banking group SEB. Standard Life Aberdeen, ABP, Aviva Investors, BMO GAM, Nikko AM, Cardano, MJ Hudson Allenbridge, MSCI, Danica, Invesco, MUFG, LGIM, Hymans Robertson, Nomura, Intervalor Standard Life Aberdeen – Martin Gilbert (right), co-founder of Aberdeen Asset Management, has stepped down from his position as co-CEO of Standard Life Aberdeen. Keith Skeoch is now the sole CEO of the £551bn (€643.6bn) investment services giant.The “dissolution” of the co-CEO structure was “designed to strengthen our client focus, simplify reporting lines and put in place a structure which will facilitate robust execution of the next stages of our transition and transformation programmes”, the company said in a statement.last_img read more

ICC World Cup India vs Pakistan World Cup 2019 match tickets being resold for upto Rs 60,000 on THIS website

first_img New Delhi : We are all set to witness the most-anticipated encounter of the ICC Cricket World Cup 2019 as the arch-rivals India and Pakistan will be locking horns against each other at the Old Trafford in Manchester on Sunday. In every India-Pakistan game, not only the emotions are high amongst the players on the field, but also fans are high on adrenaline. The battle on the cricket field between the two Asian neighbours is touted to be the “greatest rivalry” for which fans wait eagerly.Although the two cricketing giants don’t feature in bilateral ties due to political issues, there is always a great level of excitement and anticipation whenever the two teams meet in multi-nation tournaments.Even in the ongoing World Cup in England and Wales, there’s already enough hype for game number 22 — the mother of all clashes — to be played between India and Pakistan on June 16 in Manchester.Such is the craze among the fans that they are willing to pay any amount of money to witness what is expected to be a high-octane encounter between the arch-rivals.The tickets for the clash which will take place at the Old Trafford Stadium — which has a capacity of 20000 — were sold out within hours of the ticket window opening.And now, those who have bought the tickets are earning more by re-selling them. A website, Viagogo, is now buying tickets from the fans and is reselling them for prices ranging from approximately Rs20,000 to Rs60,000. According to the website, 480 people have asked them to resell their tickets which the website is now providing to those who want it.The highest ticket price is available in the Platinum category for Rs62, 610 while the lowest is that in the Bronze category for Rs20,171.The website has put up a map of the stadium wherein they have listed the services available in the stands for which the prices are mentioned. India and Pakistan will be meeting for the seventh time in a World Cup on Sunday. On all the six previous occasions, the Men in Blue have turned victorious. (With Inputs: IANS inputs)  highlights India has never lost a World Cup game against Pakistan. India has won two of three games in World cup 2019. India will play Pakistan on June 16 at Old Trafford in Manchester. center_img For all the Latest Sports News News, ICC World Cup News, Download News Nation Android and iOS Mobile Apps.last_img read more

Engineers gather for summit

first_imgNearly 800 engineers from across the country gathered at Bovard Auditorium on Thursday to engage in panel discussions and lectures that addressed 14 grand challenges in the field of engineering.Students, professors and administrators from various engineering schools participated in the 2010 National Academy of Engineering Grand Challenges National Summit, which addressed issues such as providing access to clean water and preventing nuclear terror. The summit was streamed live online, and attendees and viewers could send in questions via Twitter.“Engineering is about invention; it’s not just learning a bunch of science,” said Matthew Tirrell, chair of UC Berkeley’s department of bioengineering. “It’s about transforming the world.”A $1 million grant was announced at the summit Wednesday to fund the Maseeh Entrepreneurship Prize Competition, open exclusively to Viterbi School of Engineering students .The first portion of the competition for a prize of $50,000 will take place in the spring, when teams will present a business plan before a panel of engineering professionals. The winner will have the opportunity to work with professional engineers to turn their ideas into reality.“We need more of those [awards] to stimulate creativity, innovation and instill in students the fact that they’re not just here to graduate in four years and join the work force,” said Simin Pulat, professor of engineering at Oklahoma University. “There are all these challenges that are waiting for us to solve and they do matter.”Keynote speaker Charles Vest, president of the National Academy of Engineering, said the summit was a place for engineers to come together and find inspiration.“You need a society that truly understands what we do at engineers,” Vest said. “This is a platform, a framework to get people excited, and a format for national dialogue.”An important part of the Massiah Foundation’s award is to get engineers thinking about the business applications of an invention, said Fariborz Maseeh, president of the Massiah Foundation.“Engineers are necessary but not sufficient to deliver the goods,” Maseeh said. “It is the cardinal reason behind the prize being launched today.”Vest said it is difficult discuss engineering in this country because of an obvious stigma against the field.“Many young people are not choosing engineering as a career and that’s a problem,” Vest said. “There is a lack of understanding in society about what engineers do.”Lisa Zerzemnieks, a senior majoring in civil engineering, agreed with the notion of an engineering stigma of being a nerd or deeply involved in research but said USC may be an exception to the rule.“USC kind of fights the stigma. We have a lot of engineers that do more than engineering,” Zerzemnieks said. “Engineering can be my career, but it’s not my life.”Vest went on to say that the greatest discrepancy among Asia, Europe and the United States in terms of industry is the lack of young engineers in the field.“There’s still no good answer. We’re still struggling as to why engineering isn’t seen as exciting,” Pulat said. “It’s another challenge all by itself.”Although the number of students in engineering might be scarce, funding sure isn’t.“I don’t worry so much about the money. Someone once said, ‘We have no money now we have to think ,’” said Jeff Wilcox, corporate vice president for engineering of Lockheed Martin.Wilcox said the funding could spawn innovation, a thought shared by Maseeh and the Massiah Foundation.“When you create small pools of money, it is amazing what some people can do with knowledge,” Wilcox said. “What they’re producing is going to be seen.”last_img read more

Utah men’s basketball program placed on probation because of recruiting violations

first_imgThe violations range from misapplied recruiting rules, off-campus recruiting activities during quiet hours and coordinating with a local community college program, believed to be spearheaded by associate head coach Tommy Connor.The report read, in part:  Related News Former Arizona basketball assistant gets 3-month prison sentence in recruiting corruption case “According to the committee, an assistant coach misapplied recruiting rules and believed off-campus recruiting activities were allowed during a quiet period. Acting on the misunderstanding, the committee said the assistant coach conducted an evaluation of a recruit at a community college, and the full men’s basketball coaching staff visited a second recruit at his high school during the quiet period.”The committee found that the associate head coach coordinated with a local community college’s men’s basketball head coach to get the high school prospect to the university’s campus for a visit. The community college paid for the prospect to visit the community college. While the prospect was in the area, he also visited the Utah campus, according to the committee.”According to the school, these violations occurred after “a misreading of the NCAA calendar” in the spring of 2018, the Salt Lake Tribune reported. “You can’t run from the fact that there were NCAA violations committed here,” Utah athletic director Mark Harlan said in an interview. “But again, there’s a big difference between inadvertent mistakes and perhaps some of the other things we’ve seen in the country.”However inadvertent the actions were, a number of penalties will now be enforced, including: Evan Mobley, No. 1 prospect in Class of 2020, commits to USCcenter_img The Utah men’s basketball program will be on probation for two years after the NCAA found a number of recruiting violations dating back to April 2018.After an investigation, the committee of infractions found that the program committed two Level II violations and one Level III violation, the organization announced Tuesday. Two years of probationA $5,000 fine (self-imposed by the university)Recruiting restrictions, including a three-week ban on men’s basketball unofficial visits and a reduction in the number of men’s basketball official visits by twoAlong with the team’s probation, Connor was given a one-year show-cause penalty and will be banned from off-campus recruiting during the month of July.In addition to Connor’s penalties, the entire coaching staff received a Level II violation and head coach Larry Krystkowiak received a separate Level II violation (due to the head coach responsibility bylaws).last_img read more