Nestle Sets Up Asset Manager Firm to Service Pensions

June 29, 2006 (PLANSPONSOR.com) - Nestle has announced its creation of a new company, Nestle Capital Advisors, which will provide services to its pension funds around the world.

IPE.com reports that Jean-Pierre Steiner, director of corporate pension and risk services at Nestle, said the new firm, based in the UK, will provide the company’s 240 pension plans with actuarial services, manager selection, benchmark monitoring and mandate drafting.

A¬†subsidiary regulated by the Financial Services Authority will provide asset management services to the firm’s pension funds, according to IPE.com.

Steiner told IPE.com that Nestle has a total of 13 billion euros in assets in 100 separate pension funds.

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