European Commission, BNP Paribas Investment Partners, Newton Investment Management, Nykredit Asset Management, BankInvest, AP1, Westchester Group, La FrançaiseEuropean Commission – Jonathan Hill has been confirmed as the next commissioner for Financial Services, winning over doubters in his second hearing. The former leader of the UK House of Lords won the vote to be confirmed in the College of Commissioners by 45 votes to 13. An additional vote by members of the Economic and Monetary Affairs Committee backed him as commissioner for Financial Stability, Financial Services and Capital Markets Union by 42 to 16.BNP Paribas Investment Partners – Susan Gostick has been appointed head of the pension fund segment at the French asset manager. Based in London, she will focus of adding to the company’s pensions business. She joins from Newton Investment Management, where she was head of institutional relations. She has also worked at Lazard Asset Management.BankInvest –Lars Bo Bertram has been appointed as the new chief executive of Danish investment manager BankInvest. He will take on the role at both BI Holding and the BankInvest Group. Bo Bertram is currently bank executive board member and head of Nykredit Asset Management. At Nykredit, he is responsible for investment management and investment fund administration. Before that, he worked for Danske Bank. He is also chairman of the CFA Society Denmark. Bo Bertram will leave Nykredit’s executive board with effect from today. Following his departure, the board will comprise managing directors Bjørn Mortensen, Georg Andersen and Jesper Berg. Bo Bertram will be stepping into the shoes of BankInvest’s current chief executive Bo Foged, who – as reported by IPE in May – has been appointed group finance director at Danish statutory pension fund ATP. The two will change roles on 1 January 2015. AP1 – Kaj Martensen has been appointed COO at the Swedish buffer fund, replacing Anders Rahmn, who is set to retire. Martensen will also join the fund’s management board. He will begin his new role at the start of 2015, with Rahmn stepping down at the end of February. Martensen joins from Shell Asset Management in the Netherlands.Westchester Group – Martin Davies has joined the farmland investment specialist as executive vice-president and chief executive of its Europe office. Westchester is majority owned by US pension provider TIAA-CREF, whose asset management arm recently opened a UK office. He joins from Insight Investment and was behind its farmland investment business for the past five years. He will now manage the company’s business in Europe and build its European farmland investment business.La Française – Pierre Schoeffler has joined the French asset manager as a senior global asset allocation adviser, working across the group’s entire asset offering. He remains chairman of S&Partners, an asset allocation consultancy he founded in 2004, and is a senior adviser at IEIF, a real estate investment research centre and consultancy.
Norway’s sovereign wealth fund has divested one of the world’s largest telecommunications companies over allegations of corruption and bribery.The NOK7.1trn (€742bn) Government Pension Fund Global’s Council on Ethics last year investigated ZTE Corporation, listed on the Shenzhen and Hong Kong stock exchanges, over concerns it was responsible for gross corruption, as defined by the fund’s own exclusion guidelines.In a statement, the fund’s manager, Norges Bank Investment Management, said its executive committee felt it was inappropriate to exercise its ownership rights to bring about change and instead opted to divest its stake worth NOK85m, accounting for just 0.15% in voting rights.The Council’s report from June last year noted the company had been sent a draft version of its report but had not commented in the findings, which listed allegations of corruption in 18 countries. The report adds: “All corruption allegations against ZTE of which the Council is aware relate to the payment of bribes to public officials to secure the award of contracts.“In 2012, ZTE’s representative in Algeria was sentenced to 10 years’ imprisonment for corruption in connection with a contract won by ZTE in the country.”The report points out that, following the sentencing of the representative in Algeria, the company was barred from bidding for public contracts for two years.It also cites allegations of corruption in Zambia, Kenya, the Philippines, Myanmar, Nigeria and Liberia, and claims “large” commission payments were passed to the prime minister of Papua New Guinea.The decision to exclude ZTE from the sovereign fund’s investment universe comes only a month after it decided to remove Alstom from its observation list after previous concerns over corruption.,WebsitesWe are not responsible for the content of external sitesLink to recommendation by Council on Ethics
Ex Black Stars goalkeeper Sammy Adjei has revealed to Asempa Sports that he never planned to retire from the senior national team as reported in 2008.The 32-year old goalkeeper of Accra Hearts Of Oak made these Revelations on Asempa sports heroes program over the weekend and described it as an ordeal.Ex Black Stars goalkeeper Sammy Adjei has revealed to Asempa Sports that he had never planned to retire from the senior national team as reported in 2008.Adjei who had stints in the Israeli league with FC Ashdod before the 2008 Africa cup of nations in Ghana said that he had never wanted to retire from the national team but was forced to retire by his club because he decided to leave the club to come and play for Ghana in the 2008 Nations cup.In addition he reiterated his resignation letter to quit the Black Stars was written by FC Ashdod and not him because they had warned him to stay and play for them but he refused and came to Ghana for the tournament.He explained that he was given conditions to stay and play for the club or else he would lose his starting place in the team after the Nations cup tournament. The club authorities lured him made to sign a letter to show that he was going for the Nations cup but he later realized it was a resignation letter.The veteran goalkeeper expressed his disappointment in the Ghana Football Association(GFA) saying that most of the officials there including the then GFA vice president Fred Pappoe knew about the issue but never tried to defend him when the news broke.On the flip side goalkeeper Sammy Adjei said he was hoping to get back to his best since he still has a lot to offer.He played for Club Africain of Tunisia in 2004 and was part of the Accra Hearts of Oak team that conquered Africa in 2000 and the Black stars team that went to the 1st ever World cup in Germany in 2006.Sammy Adjei also promised he may not join any team if Hearts of Oak rejects him as its been speculated.