Hewitt Associates has launched Global Risk Services, a new initiative that will help pension plan sponsors manage the risks they face. Launched jointly in North America and the United Kingdom, Global Risk Services will help organizations optimize the risk-reward equation in the fast changing retirement plan landscape. “Events in financial markets in recent months have […]
The federal government has introduced Bill C-28, the Budget and Economic Statement Implementation Act, which includes the allowance of phased-retirement options for pension plans. The bill received its first reading in the House of Commons today and the measures in the bill were included in a Notice of Ways and Means Motion introduced last week. […]
Keith Ambachtsheer, director of the Rotman International Centre for Pension Management(ICPM)at the University of Toronto’s Rotman School of Management, has been recognized with the top Outstanding Industry Contribution Award at the 7th annual IPE European Pension Fund Awards. He was one of ten nominees for the award, which was voted on by readers of Investments […]
RBC Dexia Investor Services has snagged a couple new clients, Maple-Brown Abbott Ltd. and Cayman National Securities. For Maple-Brown Abbott, RBC Dexia will provide global custody, fund administration and shareholder services for a newly-launched family of funds domiciled in Dublin. This announcement marks the expansion of an existing working relationship between the two companies in […]
U.S. employers’ health benefit costs rose by 6.1% in 2007—the same pace as last year—to an average of US$7,983 per employee, according to a survey. Mercer’s National Survey of Employer-Sponsored Health Plans says the good news is that cost increases have held steady for three years and are likely to slow a bit further in […]
The Canada Pension Plan Investment Board has formally launched its offer for a 40% interest in Auckland International Airport Limited(AIAL). The all-cash bid of NZ$1.8 billion, or $3.6555 per share, was made before the New Zealand Stock Exchange opened on Friday. The takeover offer is a 37% premium over AIAL’s trading price prior to pre-takeover […]
More job interviewees are taking time during the interview process to ask about work-life balance options than they were five years ago, according to a survey. In a recent survey developed by Robert Half Finance & Accounting, 56% of chief financial officers say are more likely to ask about work-life balance programs when meeting with […]
The province of Ontario has signed a letter of intent with leading institutional investors—including OMERS Administration Corporation, RBC Capital Partners, Business Development Bank of Canada and Manulife Financial—to create a new $165 million venture capital fund. “Working together with sophisticated corporate and institutional investors, we can help Ontario’s innovative thinkers take their ideas to the […]
Baby boomers and Generation Y may have less of a generation gap than one might assume when it comes to employee benefits, according to a study. The study, What Millennial Workers Want: How to Attract and Retain Gen Y Employees, finds that when asked to rank the importance of 11 factors relating to job opportunities, […]
An attempt to sell frozen third-party asset-backed commercial paper(ABCP)failed on its first day yesterday, according to a newspaper report. The Globe and Mail reports that the trading platform run by an electronic exchange, Perimeter Financial Corp., did not match any buyers with sellers of ABCP. Potential buyers reportedly bid 50 cents on the dollar, but […]