REGINA, Saskatchewan -- IPSCO Inc. hired Putnam Investments to run an undisclosed amount in non-Canadian equities, said Ed Tiefenbach, senior vice president and chief financial officer.
This is the second international manager hired by the C$117 million (U.S. $80.7 million) master trust that oversees IPSCO's defined benefit plan.
Funding came from the company's other international manager, which saw its mandate reduced, Mr. Tiefenbach said. He would not name the other manager.
IPSCO's pension plan is now close to the 20% limit for international investing allowed by Canadian law, he said.
Fiduciary Trust starts pooled funds in Australia
NEW YORK -- Fiduciary Trust International launched two pooled funds through its Australian subsidiary, Fiduciary Trust International Australia, aimed at the pension market there.
The global equity and global property securities funds will be managed out of New York.
Fiduciary Trust manages $45 billion worldwide, running one-third of those assets for 130 clients outside of the United States. Fiduciary manages $438 million in global equities, global property securities and global fixed-income in separate accounts for Australian and New Zealand clients.
Lindey named chief of J.P. Morgan unit
LONDON -- Geoff Lindey was appointed J.P. Morgan's head of strategic client relationships for the United Kingdom and continental Europe, Middle East and Africa.
Mr. Lindey, who is head of U.K. institutional investment, will be responsible for managing strategic relationships across Europe.
This is a new position and is designed to build the firm's institutional business and meet the needs of its multinational clients in the region.
Arno Kitts will replace Mr. Lindey as head of U.K. institutional investment. Mr. Kitts is an institutional investment relationship manager working on the group's defined contribution and pooled pension business in the United Kingdom.
AXA taps Marcuse to head realty group
PARIS -- Paul Marcuse was appointed AXA Real Estate Investment Managers SA, the group's recently established European real estate investment arm.
The new company will bring together the various property management divisions within the AXA group.