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How pensions are impacted by the bank bonus culture
It’s been six weeks since I first posted about the goings on at State Street’s custodian business that had resulted in a £23m fine and the publication of some damning findings about the behaviour of...
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“There’s opportunity in complexity”
This, believe it or not, is the new strap-line for State Street Global Adviser’s push into the UK DC market with their target dated funds which are – it seems – reassuringly complex. To boot There...
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State Street and People’s – a lack of “emissional” intelligence?
I am not very happy that People’s Pension has chosen State Street to manage the money under its master trust. In early 2014, State Street were found guilty of over-charging a variety of pension funds...
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Money corrupts, is State Street corrupted absolutely?
Is there no end to the greed within State Street’s global custody division? Two former executives at State Street have been charged by US officials for their part in a scheme involving secret...
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Theft is theft – however and whoever.
cattle thieves I have been reading about Messrs Grey and Kelly on the FCA’s website. These two advisers systematically pillaged client accounts; the FCA has found that Mr Kelly what is more...
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Will the transparency Zeitgeist pervade the FCA?
The Financial Times is reporting that the Association of Member Nominated Trustees are ready to exercise muscle to get to the bottom of what we are paying for charges. This is really good news ; but...
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Power to the people (now we’re taking the risk).
If the People’s Pension , is really the people’s pension, why aren’t the people who are members being told what they are paying for membership? For some months, I have been saying privately to the...
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Less complex DC please – SSga
This from State Street’s Barry F.X. Smith, head of State Street Global Asset (SSga) Manager’s Americas Institutional Client Group. “The defined contribution market continues to expand, both in size...
View Article“Retire from work, not from a pay-cheque?” Will BlackRock offer a wage for life?
As DC retirement savings plans mature they present those who save, those who look after their savings and regulators with the same challenge- “how to turn pots to pensions”. The way in which different...
View ArticleAsset managers should invest to dine at the DC table
I often hear dissatisfaction from asset managers that they have no place at the DC table. The management of workplace DC assets has largely been given to BlackRock, LGIM, State Street and Vanguard....
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