Investment Officer

Norway’s Government Pension Fund Global, the largest sovereign wealth fund globally, on Tuesday announced a record-breaking profit of 2.22 trillion Norwegian kronor (approximately  196 billion euro) for 2023. This achievement was primarily driven by substantial returns from investments in technology stocks.

The results marked a significant turnaround from its 1.64 trillion kronor (about 140 billion euro) loss in 2022, primarily due to a downturn in tech stocks.

Atoz Services, described as the largest tax advisory firm in Luxembourg outside the Big 4, announced on 29 January its acquisition of former rival Fund Solutions, a money-losing Luxembourg firm offering outsourced fund administration services for listed and unlisted corporations, private equity and real estate funds. 

A consortium led by French and Dutch asset managers is progressing towards setting a global industry benchmark for quantifying greenhouse gas emissions averted through low-carbon solutions.

The U.S. Securities and Exchange Commission (SEC) in 2023 continued to demand significant recoveries from financial institutions, although investment advisers were less frequently targeted. The year also witnessed the introduction of fines related to WhatsApp use and a record payout to whistleblowers.

The world’s ESG and sustainable funds paid back nearly 2.5 billion dollars to investors in the last quarter of 2023, according to calculations by Morningstar.

Christine Lynch has been appointed as Group Chief Risk Officer at Luxembourg-headquartered Quintet Private Bank. She joins from HSBC, where she served for over 25 years, most recently as chief risk officer wholesale and as head of enterprise risk.

Lynch will also be a member of Quintet’s Authorized Management Committee, subject to regulatory approval. She succeeds Philip Tremble, who retired last year following more than four decades in banking.

This week’s overview of transfers, appointments, promotions and other people news includes updates from M&G, Oraxys, Kroll, Crestbridge and Julius Baer.

Kelly Hébert

Kelly Hébert (photo) has been appointed as head of France at M&G Investments, in parallel to her role as head of Belgium and Luxembourg. She replaces Brice Anger, who has decided to leave M&G after a 16-year career with the company.

Edinburgh-based asset manager Abrdn on Wednesday said it plans to slash 500 jobs this year, or about 10% of its workforce, in a push to bring down costs and restore profitability as the industry continues to be plagued by a growing uptake of low-cost competitors and a broad switch among clients to passive investment strategies.

Digital investment channels are no longer just the domain of the young or tech-savvy, but are increasingly being embraced by a broader demographic of retail investors. These insights come from a comprehensive survey commissioned by Amundi, Europe’s largest asset manager.

This week’s overview of transfers, appointments, promotions and other people news includes updates from Euroclear, Arrow Global, Partners Group and KPMG Luxembourg.