The push for integrating environmental, social and governance (ESG) analysis into investment decision-making got a quiet boost last month amid other louder news events. Regarded as the second-largest pension fund in the U.S., the California State Teachers’ Retirement System (CalSTRS) has announced that it selected three sustainability-focused global equity investment managers to collectively manage $750… Read More >>
BBH to Service Hong Kong’s First Active ETF
BBH to Be Registrar for Active ETF Brown Brothers Harriman & Co. (BBH) has been appointed as the custodian and administrator for the first actively managed exchange traded fund (ETF) domiciled in Hong Kong, officials report. “The ICBC CICC USD Money Market ETF is being launched by China International Capital Corporation (CICC) with ICBC Asset… Read More >>
Morgan Stanley Pays $150M to Settle MBS Cases
The California Public Employees’ Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) are alleging that Morgan Stanley misled them about the mortgage-backed securities (MBSs) in which they invested in the 2003 to 2007 period. Morgan Stanley officials have denied the allegations “and all claims of wrongdoing, damages and liability whatsoever.” The legal… Read More >>
LME Clarifies Executive Leadership Team
LME Interim CEO Becomes Permanent Matthew Chamberlain, the interim CEO for the London Metal Exchange (LME) since January, has been appointed to the post on a permanent basis, subject to the approval of the Financial Conduct Authority (FCA) a U.K. regulator, officials say. The LME leadership changes are intended to help the LME “strengthen and… Read More >>
CalSTRS Put Its ESG Money Where Its Mouth Is
Controversial environmental, social and governance (ESG) concerns that are being used to screen investments are gaining ground with the buy side. In one very important example, the California State Teachers’ Retirement System (CalSTRS), the pension fund for public school educators of California, is literally putting its ESG money where its mouth is. Pension officials have… Read More >>
BNP Paribas Securities Services Fills Key Americas Post
BNP Paribas Securities Services Appoints Head of Americas Region BNP Paribas Securities Services, which tallies over $9 trillion in assets under custody, reports the appointment of Claudine Gallagher as head of its Americas region, in addition to her existing mandate as head of securities services North America. “In this expanded role, Gallagher assumes responsibility for… Read More >>
CalSTRS to Hire Firms Leading the ESG Charge
A major pension fund, the California State Teachers’ Retirement System (CalSTRS), which oversees a portfolio of $193.2 billion, is giving its very public blessings to investment strategies that embrace environmental, social and governance (ESG) goals with the news that it wants to hire six public equity investment management firms with “ESG expertise.” Candidates will have… Read More >>
SEC Fills Key Post for Enforcement Division
SEC Appoints Associate Director for SEC Division Melissa Hodgman has been named associate director in the SEC’s enforcement division, succeeding Stephen L. Cohen, who left in June, the SEC reports. Hodgman began in the division in 2008 as a staff attorney, according to a statement, which notes also that she joined the market abuse unit… Read More >>
California Alleges Morgan Stanley Misled Key Pension Funds
The State of California has filed suit against Morgan Stanley & Co., accusing it of knowingly misleading the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), enticing the two huge pension funds to buy toxic mortgage-backed securities during the housing bubble that led to the Great Recession. The complaint,… Read More >>
Calstrs Tweaks Mainframe Usage & Saves $600K
The California State Teacher’s Retirement System (Calstrs) pension fund has adjusted the way its Calstrs START database system utilizes mainframe hardware and over eight months saved more than $600,000 in batch and online processing costs. START, which is based on Software AG’s Adabas-Natural database system, is using Software AG’s zIIP Enabler for Natural to utilize… Read More >>
