Ribeiro joins F&C in new role of head of investments

F&C has appointed Fernando Ribeiro into the newly created role of head of investments. The new position replaces the previous CIO function held by Tony Broccardo who is to shortly leave the company. Mr Ribeiro joined F&C early in 2001 as a member of the management committee with responsibility for retail portfolio management. Prior to his time at F&C he was chief investment officer at the Portuguese investment house AF Investimentos,

Alain Grisay, takes over as CEO in January.

State Street opens new office in Amsterdam

State Street Corporation has opened a new office in Amsterdam that will house more than 150 of its employees. “The Netherlands boasts some of the most highly developed pension schemes that have been pioneers in the financial marketplace,” said Rod Ringrow, senior vice president and head of State Street’s investor services business in the Netherlands. “These innovative pension systems and well-regarded corporate governance standards make the Dutch market a highly attractive investment region.”

AXA REIM to observe the markets from Budapest

AXA Real Estate Investment Managers (AXA REIM) has opened an office in Budapest. The office will manage the existing investment portfolio and service the current buying requirements for AXA REIM’s pan-European real estate funds. Although the initial acquisition will focus on the Czech Republic, Hungary, Poland and Slovakia, AXA will also observe the emerging real estate markets elsewhere in Central and Eastern Europe.

OKO Bank becomes parent company of Pohjola Group

Finland’s OKO Bank has become the parent company of Pohjola Group and its subsidiaries after acquiring approximately 58.5 per cent of the firm’s outstanding shares and voting rights from E6.3bn Suomi Mutual Life Assurance Company and E19.3bn Ilmarinen Mutual Pension Insurance Company. “Overall the acquisition will not affect the operations of Pohjola,” Mikael Silvennoinen, president of OKO Bank, told epn.

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