Alecta poaches Skandia CIO for new real assets chief role

first_imgThe appointment of Brändström is part of an organisational change at the Stockholm-based pension fund, involving the creation of a Real Assets department, which will be sub-divided into International Real Assets and Real Estate Sweden.Lena Boberg has now been appointed as Alecta’s new head of Swedish real estate, and is coming to the company from her most recent job of chief executive officer at ICA Fastigheter.Meanwhile, Frans Heijbel will continue to lead International Real Assets.Boberg has been CEO of Västerås-based property firm ICA Fastigheter since 2011, having joined the firm in 2007. Her previous jobs include that of chief financial officer of Skandrenting AB, and one of her current roles is supervisory board member of Ancore Fastigheter, which is jointly owned by ICA and Alecta.Alecta told IPE that the pension fund’s real assets allocation – the vast majority of which is in real estate – had been growing over the last few years to around 10% in 2019 from about 7% in 2016.This development was the main reason for creating the new role of real assets chief, the spokesman said. Sweden’s biggest pension fund Alecta has lured Skandia Investment Management’s chief investment officer to switch sides and head up its rapidly-growing real assets operation, amid indications from the fund that the expansion of its property and infrastructure allocation has much further to go.Axel Brändström is set to join Alecta this month in the newly-created role of head of real assets, having worked at rival Skandia for almost 15 years, according to a spokesman for Alecta.The news follows the departure of Fredrik Palm, Alecta’s former head of real estate, on 25 September last year, and his temporary replacement by Danor Ghersinich, who had previously been responsible for the fund’s directly owned properties.Palm, who headed up the the SEK928bn (€88bn) pension fund’s real estate operation since 2013, left to start his own business.last_img read more

ESG roundup: New tailings management standard to improve mining safety

first_imgFaith Ward, chief responsible investment officer at Brunel Pension PartnershipHe said that as investors, the group has a moral duty to ensure that “we are not profiting from modern slavery in any shape or form”.Faith Ward, chief responsible investment officer at Brunel Pension Partnership, added: “Whilst investors are increasingly interested in the impact of environmental, social and governance factors on the financial performance of companies we have to make sure that we are also delivering real world, positive, change. I hope that this letter encourages companies to investigate their labour supply chain and provide strong safeguards for migrant workers”Looking for IPE’s latest magazine? Read the digital edition here. GTR said in a statement the standard “establishes clear expectations around global transparency and disclosure requirements, helping to improve understanding by interested stakeholders”.The co-conveners have each endorsed it and call for its broad and effective implementation across the industry:UNEP will support governments that wish to incorporate and build upon this Standard into their national or state legislation and policies.PRI, representing $103.4trn (€86.7trn) in assets under management, will develop investor expectations to support all mining companies in implementing the standard.ICMM member companies will implement the standard as a commitment of membership.Bruno Oberle, chair of the GTR, said: “It is my hope that the standard will be supported by an independent body that can maintain the quality and further refine and strengthen the standard over time.”Scottish Widows invests £2bn in BlackRock’s new climate transition fundInsurance and pensions provider Scottish Widows has become the first investor in BlackRock’s newly launched Authorised Contractual Scheme (ACS) Climate Transition World Equity Fund.The investor is initially allocating £2bn (€2.2bn) of its pension portfolios into the fund, which it also helped to design.Climate transition is a new data-driven investment approach developed by BlackRock that measures a company’s exposure and management to transition risks and opportunities.It seeks to provide investors with a broad market approach to invest in the transition to a low carbon economy, the asset manager stated.Philipp Hildebrand, vice chair of BlackRock, said: “The world is undergoing a rapid transition to a low-carbon economy. This transition — driven by climate change, technological innovation, consumer preference and regulatory and policy development — is going to create winners and losers, and investors need to be prepared.”The fund offers portfolio diversification by providing exposure to companies across sectors, regions, and business maturities. “The transition to a low carbon economy won’t just affect oil and gas companies, but rather all sectors – including hospitality, transportation, and healthcare,” BlackRock said.Scottish Widows recently launched a Responsible Investment and Stewardship Framework that outlines how it will make decisions on asset allocation, fund manager selection, fund research, and engagement activity.Its commitment to responsible investment is fully supported by its parent company, Lloyds Banking Group, which in January 2020 set an ambitious goal to accelerate working with customers, government and the market to help reduce the carbon emissions they finance by more than 50% by 2030.Companies operating in Gulf nations urged to protect workers from debt, slaveryA group of institutional investors with more than $3trn (€2.5trn) in assets under management – led by CCLA and supported by investors including Aviva Investors, Schroders and M&G – has written to 54 companies, including those with business operations in Gulf nations, to request details about their approach to safeguarding migrant workers.This follows concerns about workers’ welfare, particularly relating to recruitment practices which may result in debt bondage, as well as the retention of their passports, it said.The investors are responding to recent reports that have identified how migrant workers in Gulf nations, recruited and employed through labour outsourcing agencies, are coerced into paying large fees to agents and third parties as part of the recruitment processes for roles in major international companies.The payment of recruitment fees, often only made possible by taking out excessive loans at high interest rates or by signing over assets and property, can mean that workers are left in a position of ‘debt bondage’, and thus are at high risk of forced labour and modern-day slavery, the group said.“The global Covid-19 pandemic has resulted in many migrant workers’ roles being revoked or in workers losing their jobs. This has left many facing substantial debts that they will likely find impossible to repay and the prospect of rising rates of suicide and other social harms,” the group said in a statement.Focused on high-risk sectors such as hospitality, construction, and oil and gas, the investor letter noted that, due to the complicated nature of migrant worker recruitment supply chains and layers of labour outsourcing, many end-user companies may be unaware of these risks that impact upon the migrant workers who work in their operations.Therefore, the letter asked companies that use any labour outsourcing companies or migrant workers within their operations in the Gulf states for information on how they work with these agencies.The letter also asked for details about the policies and processes in place to identify, reimburse and provide other forms of remedy to migrant workers who have been impacted by recruitment fees and/or passport retention.Peter Hugh Smith, CCLA’s chief executive officer, said: “The International Labour Organisation regards the payment of recruitment fees and costs as a significant indicator of forced labour with debt bondage estimated to be a factor in over half of the 25 million cases of forced labour worldwide.” The Global Industry Standard on Tailings Management was launched today to establish the first global standard on tailings management to ensure improved safety in the mining industry.The standard was developed through an independent process – the Global Tailings Review (GTR) –which was co-convened in March 2019 by the United Nations Environment Programme (UNEP), Principles for Responsible Investment (PRI) and International Council on Mining and Metals (ICMM) following the tragic tailings facility collapse at Brumadinho in Brazil, on 25 January 2019.GTR announced at the end of June its intention to launch the standard, confirming that it would establish “much needed robust requirements for the safer management of both existing and new tailings facilities globally”.Strengthening current practices in the mining industry by integrating social, environmental, local economic and technical considerations, the tailings management standard covers the entire tailings facility lifecycle – from site selection, design and construction, through management and monitoring, to closure and post-closure.last_img read more

Labour set to reject National move for parental leave for both parents at same time

first_imgNZ Herald 14 November 2017Labour is likely to oppose a National Party amendment to allow fathers and mothers to take paid parental leave at the same time under a proposed amendment to the Paid Parental Leave Bill.National’s justice spokeswoman Amy Adams will put in an amendment to the Bill currently going through Parliament to allow parents to take some of the leave entitlement at the same time, rather than one parent only.She said the fulltime support of both parents was important in some cases, such as multiple births or premature births where a baby had higher needs.“What they need most at that time is for both partners to be together for a short period of time to bond and work with each other.”The Paid Parental Leave Bill which will increase paid leave from 18 to 22 weeks next year and 26 weeks in 2020.Labour’s Workplace Relations Minister Iain Lees-Galloway said Labour was yet to see the wording but was likely to oppose the amendment.He said Labour could consider such a move in the future but was concerned it would reduce the time a child would have with primary caregivers.“The whole purpose of providing Paid Parental Leave is to provide time for babies to bond with a primary caregiver.”READ MORE: http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11943848last_img read more

Arsenal suffer at the hands of Diego Costa once again

first_img Press Association Diego Costa once more proved to be the scourge of Arsenal as Chelsea left the Emirates Stadium with a 1-0 victory. The 27-year-old, who was frequently booed on Sunday by Gunners fans following his antics at Stamford Bridge in October, was again in the thick of the action and his strike proved to be the difference between the two teams. Here Press Association Sport assesses the striker’s contribution. center_img HISTORY REPEATED Costa’s performance in September’s reverse fixture – when he antagonised Gabriel into a red card – was lauded by Jose Mourinho and labelled “unacceptable” by Arsene Wenger. This time in opposition it was Laurent Koscielny and Per Mertesacker, who soon saw red for a trip on the striker. “Diego Costa, he’s done it again,” sang the visiting supporters. RIVALRY The Brazil-born Spain striker showed his bad side when he petulantly placed a foot on Aaron Ramsey after both went to ground in the second half. He was booed at every opportunity by the home support, who jeered and hurled insults at a tiring Costa as he was replaced by Loic Remy with 22 minutes remaining. GOAL THREAT Costa caused confusion between Mertesacker and Koscielny to create an early chance for Oscar. He then tried to reach Willian’s through ball in the move which led to Mertesacker’s dismissal. Next he stunned Arsenal with a fine near-post finish from Branislav Ivanovic’s cross before being denied by Petr Cech after beating Nacho Monreal. OVERALL IMPACT Arsenal manager Wenger encouraged his players not to get involved in any antics with Costa, who was told to concentrate on football by Chelsea interim boss Guus Hiddink. Costa did as his boss instructed and now has six goals in six games since Boxing Day; he had seven goals in nearly 11 months prior to that. He also has two goals against the Gunners in three games and has drawn two dismissals. last_img read more

World champion ‘had health issue’ before first Andy Ruiz fight

first_img(BBC) – UNIFIED world heavyweight champion Anthony Joshua said a health issue left him “tired” and “drained” in the build-up to his June defeat by Andy Ruiz Jr.Joshua, 30, reclaimed his world titles in Saudi Arabia on Saturday, dominating the Mexican over 12 rounds.Conspiracy theories had circulated after his initial defeat, one of the biggest shocks in heavyweight history.“I had some issue with my health which I was going through for a long time,” Joshua told the 5 Live Boxing podcast.The Briton added: “I didn’t know what was wrong with me. I felt so tired and drained and thought it must be down to training.“In the changing room before the fight I got a bucket of ice and was putting my head in it thinking ‘why do I feel so tired?’“The responsibilities of being world champion are difficult. All that stuff, feeling so tired, dealing with obligations.“Now I have energy, I haven’t missed a session.”He added: “After my check-ups it showed what the problem was and this is what you have to get sorted.“Even in this camp I had an operation done but as I’d started training in June I had no issues.”Joshua refused to say what the operation was but it is understood the procedure he had was linked to the issue diagnosed after his defeat by Ruiz.Joshua had hinted previously that he had something to reveal about what went on before his first career defeat and, after initial hesitation, provided at least some insight to the 5 Live Boxing podcast.Theories aired in the interim had ranged form him having shown the effects of being concussed in sparring to having a seizure before the bout at Madison Square Garden.He now says he feels “back” and “focused”.The two-time world heavyweight champion also said he learned a valuable lesson not to accept opponents at short notice – Ruiz was drafted in six weeks before their fight after American Jarrell Miller failed three drug tests.Joshua, who will return to the UK in the early hours of Monday morning with the IBF, WBA and WBO belts, was on the front of Sunday’s Saudi newspapers, alongside Crown Prince Mohammad Bin Salman, who attended his fight.Despite widespread criticism of staging the bout in a country criticised for its human rights record, Joshua said he would “100%” be happy to return to the kingdom on holiday or to perform.Joshua is now expected to face either the WBO’s mandatory challenger – currently Ukraine’s Oleksandr Usyk – or the man in the same position with the IBF, Bulgarian Kubrat Pulev.He said he was no longer interested in calling out WBC champion Deontay Wilder for a historic bout with all four world heavyweight titles on the line.Chasing a contest with compatriot Tyson Fury was also dismissed as Joshua said he hoped to focus on one “hurdle” at a time.“Looking so far ahead it can be a blurry vision looking that far out,” Joshua told BBC Sport.“Sooner or later I will be looking directly at the undisputed championship of the world.“If the opportunity presents itself I will fight Wilder and Fury. Wilder has a fight with Fury in February. Once that is out of the way they can start mentioning my name.“I can’t keep on fighting all the champions, the best in the division and then other people who say they want to step up don’t step up.“All challengers are welcome to take on this current unified champion.”Joshua said to defend his belts “on home soil would be big news” after promoter Eddie Hearn revealed he had been in discussions over a fight at Tottenham’s new 60,000-capacity stadium, most likely against Pulev.“It would be mega,” Joshua added. “Looking at how many people came out here shows there is still a big interest in the heavyweight division, especially now we are taking the belts back.“Sometimes it would be better against a Brit, but if not I follow the mandatories and defend them that way.”last_img read more

Syracuse makes strides at Mary Nutter Classic, struggles in late innings against top-flight teams

first_img Published on February 24, 2014 at 12:48 am Syracuse was unable to clinch a winning trip to Cathedral City, Calif., despite winning the first two of its five games in the Mary Nutter Collegiate Classic softball tournament. SU (4-6) opened up tournament play with a 7-5 victory over University of California Davis (5-13). Senior outfielder Shirley Daniels hit her first home run of the season and junior second baseman Julie Wambold hit a go-ahead two-run home run in sixth inning to give SU a lead it wouldn’t give up. Freshman pitcher Sydney O’Hara collected the win, pitching two and two-thirds innings of relief and struck out six of the 11 hitters she faced. In the nightcap of the doubleheader, the Orange staved off a late comeback attempt by California Polytech (7-9) in a 3-2 win. AdvertisementThis is placeholder textWambold hit her second home run of the day, this one a solo shot, to put her team up 3-0 in the fifth inning.Freshman pitcher Christina Clermont notched her first collegiate victory, with her only blemish in six innings of work a two-run home run by Mustang freshman pitcher Sierra Hyland. Clermont’s freshman pitcher counterpart, O’Hara, pitched a perfect seventh inning to close out a perfect 2-0 start to the tournament for the Orange.Syracuse looked to carry its momentum into its third game of the tournament against defending-champion No. 13 Oklahoma.One out away from getting through the first inning unscathed, a two-run double and a wild pitch set the Orange back 3-0. The Sooners wouldn’t relinquish the lead, winning 6-2.Sophomore outfielder Riley Johnson provided all the offense for SU on the day, smashing her first home run of the season and providing an RBI single into right field to keep a seventh-inning rally alive that ultimately fell short in the losing effort. In last season’s Mary Nutter Classic, SU lost to then-No.17 Stanford in a close 2-1 battle. But on the third day of tournament play, Syracuse came within two outs of beating No. 11 Stanford.An error on junior pitcher Lindsay Taylor in the seventh inning allowed the tying run to come across and score, and the Cardinal scored six runs in the top of the eighth inning to beat Syracuse 11-5.In the last game of the tournament, SU was one out away from victory. Three consecutive hits with two outs in the bottom of the seventh inning brought across two runs to score and secured a 7-6 victory for Long Beach State (9-5). Five different Syracuse players collected an RBI, with Daniels, Watson and freshman catcher Nicole Lundstrom each collecting two hits.Sophomore pitcher Lindsey Larkin was tacked with the loss, yielding two runs in three and one-third innings.Syracuse travels to Kissimmee, Fla. for the Citrus Classic-ESPN Rise tournament for five games next weekend.compiled by Connor Grossman, staff writer, cgrossma@syr.edu Comments Facebook Twitter Google+last_img read more

Syracuse sweeps Wake Forest in an hour and 18 minutes

first_img Facebook Twitter Google+ Published on November 15, 2015 at 4:19 pm Contact Matt: mjfel100@syr.edu Coming off a 3-1 win at Duke Friday night, Syracuse (20-7, 11-5 Atlantic Coast) ended the weekend with a 3-0 victory against Wake Forest (12-16, 4-12) in a game that lasted just an hour and 18 minutes.The Orange took the first two sets 25-16 and then commanded the Demon Deacons again in the third, 25-13.Sophomore Leah Levert led the way for the Orange hitters, posting 12 kills, one short of her season high. She also added 11 blocks on defense.Senior Nicolette Serratore held the back line in the victory, grabbing 14 digs for the Orange. She was aided by senior setter Gosia Wlaszczuk, who totaled eight digs and 26 assists.The Demon Deacons struggled offensively, mustering just 30 kills over three sets, good for a .040 hitting percentage. The Orange hitters were extremely effective, tallying 41 kills over the three sets en route to a .462 hitting percentage.AdvertisementThis is placeholder textSU scored 60 points in the victory behind their 41 kills and three aces. Wake Forest scored just 33 on 30 kills and two aces.Sunday’s victory marked the fifth Orange win in its last six games and the 20th of the season.SU is back in action at 8 p.m. on Friday in Blacksburg, Virginia, against Virginia Tech. Commentslast_img read more

Syracuse offers little reason to think it can turn its season around

first_img Published on January 22, 2017 at 11:31 pm SOUTH BEND, Ind. — The scene inside Syracuse’s locker room was one that’s played out many times already this season.Team managers zipped up equipment bags as players quietly shuffled in and out, providing the only steady noise in a silent room. Eventually players spoke to reporters in hushed tones, trying to conjure reasons for another convincing loss in a season checkered with them.Syracuse head coach Jim Boeheim lamented SU’s defense, while his team praised Notre Dame’s talent and acknowledged they played a step behind in the 18-point loss on Saturday. But really, these explanations have threaded their way through the entire season. Against North Carolina. Against Boston College. Against St. John’s.The same reasons continue to surface, and so does the same result.“We know (this season is) a disappointment,” point guard Frank Howard said. “We’re not going to sit here and act like it’s something that it’s not.”AdvertisementThis is placeholder textWith a winless record outside the Carrier Dome and a bruising 8-5 non-conference record, pretending would be difficult. Syracuse’s (11-9, 3-4 Atlantic Coast) season has been marred by inconsistency, and the outlook is grim near the midway point of conference play. SU is more than one marquee win away from the NCAA Tournament conversation, but it had two shots at one this week against No. 9 UNC and No. 15 Notre Dame.The results can be summed up in one number: 49. That’s how many combined seconds the Orange led against the Tar Heels and Fighting Irish. For the remaining 79 minutes and 11 seconds, Syracuse exhibited the clumsy and inconsistent traits that have left little hope for change in the remaining 11 regular season games.“There’s still time to turn it around,” freshman Tyus Battle said. “We know what we’re capable of.”In both the UNC and UND games, SU scored on its first possession and never held an advantage on the scoreboard afterward. Both games featured brief runs where SU cut the deficit to single digits, or even one possession, but then faded away just as quickly. Both games illustrated that the Orange is far from matching up evenly with the ACC’s best, let alone pulling off an upset.For 41 years, Boeheim’s teams have all finished with winning records and qualified for the NCAA Tournament or NIT (when allowed). This season could very well be one of firsts.If Syracuse does fail to make a postseason tournament, it won’t be for lack of opportunity. Six ACC teams currently rank in the Top 25 and SU still has five games remaining against that bunch. Two already flew by in the past week. Then there’s Clemson and Wake Forest, ranked as the 34th and 36th best teams, per Kenpom.com. That offers the Orange two more chances for quality wins, rounding out a list of games against No. 10 Florida State, No. 12 Louisville (home and away), No. 16 Virginia and No. 18 Duke.“We’ve still got a lot of big games,” freshman Taurean Thompson said, “so I’m just looking forward. What’s in the past is in the past.”But the conversation about upcoming chances has to ground itself on what we know about the opportunities Syracuse has already had. In addition to Notre Dame and North Carolina, SU’s already lost handily to presently ranked Wisconsin and South Carolina, not to mention losses against less heralded teams like St. John’s and Connecticut.Weaknesses have appeared in nearly every facet of SU’s game. Each contest seems to highlight a different need of improvement, including overall defense, point guard turnovers, offensive and defensive rebounding, 3-point defense, reliance on Tyler Lydon and more.It seems nothing can click at the same time, and the Orange is getting consistently burned for it. Every team has its weaknesses, but it’s increasingly apparent that Syracuse has too many.“Look at last year,” Thompson said when asked if Syracuse could turn its season around. “I think they were 9-9 in conference. So that’s my motivation.“…Last year they did it. So why can’t we?”Thompson’s sentiment is likely one shared by the optimistic slice of SU’s fan base. Last year’s team endured its fair bit of criticism and doubt, only to parade through March and land in the Final Four. But the comparison isn’t completely right.Last year SU featured a reliable nucleus of Trevor Cooney, Michael Gbinije, Malachi Richardson and Lydon coming off the bench. This year it’s been Lydon paired with a revolving door of cast members, most of which have proven to be one-way players.Thompson and Tyler Roberson provide the ideal example. The 6-foot-11 freshman likes to shoot and has been an offensive boost in the post, but poor defense has plagued him all year. Conversely, Roberson was removed from the starting lineup largely because of his offensive inefficiencies while still providing steady defense.Then there’s White, who’s scored more than anyone on the team but has become too one-dimensional at times with his 3-point shooting. Topping it off is a tug-of-war between Howard and John Gillon at point guard, each appearing frustrated at times with Boeheim’s short leash. As a group, the mixed and matched lineups have struggled to play together.“You want to win, and you don’t take losing lightly,” White said, “but I use the word disappointed lightly.“Because usually when you’re disappointed (and it’s) within your control, you go out and do something about it.”So far, Syracuse hasn’t. There are few indications, if any, that it will.Connor Grossman is a senior staff writer at The Daily Orange, where his column appears occasionally. He can be reached at cgrossma@syr.edu or followed on Twitter @connorgrossman. Comments Facebook Twitter Google+last_img read more

Greg Broderick among Irish in action at Rio today

first_imgPadraig Harraington is 7 shots off the pace ahead of the final round of the Men’s Golf tournament.He is 5-under par with leader Justin Rose 12 under par.Seamas Power resumes from 1 under par.It’s women’s marathon day too.Fionnuala McCormack, Lizzie Lee and Breege Connolly will all be in action from 1pm. He, and horse Going Global, are due into the individual showjumping arena at around 4 o’clock Irish time.Boxer Michael Conlon also gets his Olympic Games underway this afternoon.The Belfast Bantam faces Aram Avagyan of Armenia in round 16 at around 3:30pm.last_img read more

Degree 53 expands technical and product development teams

first_img Industry design and innovation studio Degree 53 has strengthened its technical and product development team by promoting both Bav Patel and Peter Stringer to team directors. The Manchester-based UX specialist has undertaken its decision following a period of sustained company growth under lockdown, in which Degree 53 hired a further 12 members of staff to help deliver ongoing projects.Updating clients, Degree 53 confirmed the promotion of Bav Patel as Technical Director for web and infrastructure, having formally served as the studio’s head of web development.Meanwhile, senior developer Peter Stringer will take on the remit of Technical Director for mobile development. Having gained his experience as a mobile UX specialist, Stringer has worked on a number of Degree 53 key account projects since 2012.Having undertaken its recruitment drive, Degree 53 stated that it has increased its resource capacity across the board, strengthening its departments for web/APP development, quality assurance, project management and business insights.  MD Richard Wagstaff stated that additional resources were needed as Degree 53 had expanded its UX business segments beyond gambling covering lottery, finance and wellbeing,   Wagstaff commented: “I’m delighted to recognise the great work both Bav and Peter have been doing. Their promotions are a testament to their expertise in their respective fields and delivering successful projects for our clients.“I also want to welcome our new team members and look forward to meeting them face-to-face in the coming weeks. It’s been a tough few months for many businesses, and I’m glad we’ve been able to grow our team during this period whilst retaining all our employees” Degree 53 ‘UX Review’ reviews operators against latest Apple app guidelines January 15, 2020 Submit Closure of Belle Vue dogs likely after planning approval December 19, 2019 Related Articles bet365 continues Manchester expansion with new offices March 13, 2020 StumbleUpon Share Sharelast_img read more