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Dutch fiduciary manager Mn Services gains approval for UK operations

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Following the establishment of its UK operation in October 2008, Mn Services has now developed a complete UK fiduciary management proposition, has built its initial UK-based team, and h

Following the establishment of its UK operation in October 2008, Mn Services has now developed a complete UK fiduciary management proposition, has built its initial UK-based team, and has obtained the necessary regulatory approvals.

Last week Mn Services Vermogensbeheer announced that its UK branch Mn Services Investment Management UK obtained the European MiFID passport to provide services to UK professional investors. Under the MiFID regime, the firm is authorised by the Dutch Authority for Financial Markets and is subject to limited regulation by the Financial Services Authority.

With effect from 1 February 2009 Colin English has been appointed head of business development for Mn Services Investment Management UK. In this role, he is responsible for acquiring new fiduciary management mandates from UK pension funds.

English has built a career within the UK financial services arena, primarily working within actuarial, pension and employee benefit consultancies, and specialising in business development, client management and sales and marketing roles. Key positions held by English during the past 20 years have included head of business development in the UK for both Towers Perrin and at Mercer, as well as being a co-founder of a niche pension and employee benefit consultancy.

With effect from 1 April 2009, Gwion Moore has been appointed head of investment strategy for Mn Services Investment Management UK. In this role, Moore is responsible for ALM and investment strategy for UK pension schemes. Moore brings a wealth of ALM experience and knowledge for UK pension schemes, having been head of European pension asset and liability management and structuring at Lehman Brothers most recently and having held senior ALM and fixed income roles at JP Morgan prior to that.

Remco van Eeuwijk, managing director of Mn Services Investment Management UK (pictured), says: ‘We have deliberately taken the first six months to tailor our fiduciary management proposition to UK pension schemes and have now put in place a strong team of pensions professionals who will be able to deliver Mn Services fiduciary management proposition in a manner that is tailored to the needs and circumstances of UK pension schemes. I am really pleased that we are now in a position to actively enter the market’.

English adds: "We already have promising contacts with several UK pension funds, consultants, and independent trustees. The interest in the UK in fiduciary management and in Mn Services has exceeded our already optimistic expectations. In fact, I expect that we will already start taking part in selection processes during the next few months."

Mn Services is the fiduciary manager for a growing number of institutional investors with assets under management exceeding GBP50bn as of 1 January 2009. Mn Services also administers pensions for more than 1.2 million people.

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