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Dollar in tight range ahead of US services sector data

first_img“When it comes to dollar/yen, recovery expectations are supporting the dollar, but worries about the virus are capping the upside,” said Masafumi Yamamoto, chief currency strategist at Mizuho Securities.“The markets are focused on other currency pairs, like the Australian dollar, which is still in a clear uptrend against the US dollar due to the rise in copper prices.”The dollar held steady at 107.56 yen on Monday in Asia following a 0.3 percent gain last week. Market activity was subdued following the July 4 long weekend holiday in the United States.The euro changed hands at US$1.1247. Against the British pound, the common currency bought 90.18 pence. Sterling moved in a narrow range at $1.2474.Against the Swiss franc, the dollar was quoted at 0.9455.The Institute for Supply Management’s index for non-manufacturing activity due later on Monday is expected to rise to 50.0 in June from 45.4 in the previous month, indicating activity stopped shrinking.The greenback has been locked into narrow trading ranges recently as concerns about a resurgence in US coronavirus infections offset growing optimism about the economy.The euro will come into focus later in the trading day as Germany, the euro zone’s largest economy, is scheduled to release industrial orders for May.Retail sales for all of the eurozone will also be released later on Monday. Both indicators are forecast to recover strongly from large declines caused by the spread of the coronavirus.Elsewhere in currencies, the Australian dollar traded at $0.6944 on Monday in Asia following a 1.2 percent gain last week.The Aussie is another market focus ahead of a Reserve Bank of Australia (RBA) policy meeting on Tuesday. Analysts expect that rates will stay at 0.25 percent amid signs that Australia’s economic downturn will not be as dire as first feared.Recent gains in prices of copper and other commodities that Australia exports, combined with a more positive tone for the RBA, are likely to support the Aussie, analysts say.Across the Tasman Sea, the New Zealand dollar was quoted at $0.6535.Topics : The dollar held steady against most currencies on Monday as investors awaited data expected to show the US services sector stopped contracting, and highlighting the economic recovery from the coronavirus pandemic.The euro moved in a narrow range before economic data from Germany and the eurozone that are also forecast to show a sharp rebound in corporate activity and retail sales, which would ease concerns about the economic outlook.A steady rise of new coronavirus infections in the United States has discouraged some investors from taking on excessive risk, but most market participants remain focused on the growing likelihood that major economies will continue to recover.last_img read more

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People moves: Mercer appoints CEO for Switzerland [updated]

first_imgABP – The €389bn Dutch civil service scheme has appointed Philip Stork as board member as of 1 October, following his nomination by the pensioners’ representatives in the scheme’s accountability body. Stork succeeds Michael Damm who died at the end of last year.Currently, Stork is a professor of financial markets and instruments at Amsterdam’s Free University and is also a trustee at Vervoer, the €23.5bn industry-wide pension fund for private road transport. Earlier in his career, he was head of derivatives and managing director for investment banking at Fortis and its predecessors. He was also a member of the executive board at Van der Hoop Bankiers.Allianz Global Investors – George McKay, co-head of the asset manager will retire in April next year, it was announced today. He will step into a non-executive vice chair role upon relinquishing his executive duties. Karen Prooth has been appointed AllianzGI’s new global chief operating officer. She will join in November from BlackRock, where she was most recently global platform head for ETF and index investments. She also used to be global co-COO of iShares. McKay has also been fulfilling the role of global head of distribution, and Tobias Pross will replace him in this role from next April. Pross is head of EMEA at AllianzGI and a member of its global executive committee. McKay is currently co-head of the firm alongside CEO and CIO Andreas Utermann.Candriam Investors Group – The asset manager has named Koen Van de Maele as global head of investment solutions and member of its executive committee. He was previously deputy chief investment officer at Candriam, where he has worked for 16 years in various roles. In his new position, van de Maele is in charge of the design of tailor-made investment solutions, periodic product portfolio review and product innovation, as well as the development, under the IndexIQ brand, of the group’s European exchange-traded funds business.KAS Bank/Simplitium (updated) – Stewart Bevan and Tom Hibbard have left the UK subsidiary of Dutch custodian bank KAS Bank to join Simplitium, a fintech firm. Bevan was a product manager at KAS Bank and Hibbard a business development manager. The pair played a key role in creating a cost transparency dashboard for the pensions industry that KAS Bank launched earlier this year. At Simplitium, they will continue to work on transparency solutions for pension schemes. Bevan is a member of the Financial Conduct Authority’s working group on institutional costs disclosure, chaired by Chris Sier.Separately, KAS Bank today announced plans to create a dedicated fintech innovation division to “radically transform” governance technologies available to UK pension schemes.Eaton Vance – Thomas Body has joined the asset manager as business development director for Germany and Austria, with a view to managing a new office in Frankfurt. The appointment is part of Eaton Vance’s efforts to strengthen its team in the region to meet growing client interest, the firm said. Body joins from Aberdeen Standard Investments where he was head of business development for financial institutions in Europe. He is responsible Eaton Vance’s client relationships with German pension funds, investment consultants, insurance companies and institutional fund buyers.Actuarial Association of Europe (AAE) – Thomas Béhar is the association’s new chairperson, succeeding Kristoffer Bork. Esko Kivisaari was elected vice chairperson. A French national, Béhar was president of the French actuarial association from 2006 to 2010, and again from 2012 to 2016. AAE has also adopted a new strategy and governance structure, which sees the board of directors no longer comprising the committee chairpersons but acting as a separate body with nine elected members. Béhar has said he wants to extend the AAE’s relationship with European institutions so that they can better understand the soundness of decisions from an actuarial perspective.Unigestion – Alexandre Déruaz has been appointed head of portfolio construction for the firm’s equities products. He joins after a 10-year spell at Lombard Odier, where he was most recently head of systematic equities and alternatives. He was also previously head of the firm’s smart beta arm. Déruaz has also worked at Union Bancaire Privée and BNP Paribas.Cardano – The fiduciary management provider has hired Cédric Bucher as co-head of defined contribution (DC), alongside Ralph Frank. He joins from Architas, part of AXA, where he was head of Architas UK funds. He moved to Cardano at the start of September and will focus on the commercial development of Cardano’s DC business. The group was recently appointed by NEST to offer general investment advice and support with fund manager search and selection exercises.Hermes Investment Management – The asset manager wholly owned by the BT Pension Scheme has appointed Silvia Dall’Angelo as senior economist. She joins after 10 years at hedge fund Prologue Capital. Eoin Murray, head of investment, said Dall’Angelo’s “insight, knowledge and expertise will be a tremendous asset to the business”.Carbone 4 – The French carbon analytics company has appointed Matthieu Maurin as managing director of its subsidiary, Carbone 4 Finance, which is dedicated to developing carbon data solutions for finance institutions. Maurin was previously a director in the sustainable finance team of BNP Paribas’ investment bank. French pension funds ERAFP and FRR have both used Carbone 4.Schroders – The UK listed manager has named Reto Schwager as CEO of Schroder Adveq, the firm’s recently acquired private equity specialist arm. He will join on 1 January, taking over from Sven Liden. He was previously at financial services group Orix Corporation where he was global head of private equity at Robeco and member of the executive committee of RobecoSAM. Schwager has also worked at Partners Group and was chairman of AIG Investment (Europe).JP Morgan Asset Management – JPMAM’s Global Insurance Solutions Group has hired three staff to its client advisory and strategic analytics teams. Mark Oldcorn has joined as head of international insurance solutions, Charles Matterson as head of UK insurance solutions and Jinglun Yao as an associate within the institutional strategy and analytics team.Oldcorn was previously group relationship manager at Deutsche Börse, and will be responsible for building and maintaining relationships with insurance companies outside the US. Matterson joins from Schroders where he was a client director. In his new role he will focus on relationships with UK insurers. Yao was previously an intern at JPMorgan Market Risk Quantitative Research.Hamilton Lane – The private markets specialist has hired Nick Kavanagh to its London office as a vice president on its co-investment and secondary teams. He joins from Singapore’s Temasek, and has also worked at Pantheon Ventures and Gresham Private Equity. Mercer, ABP, AllianzGI, Candriam, KAS Bank, Simplitium, Eaton Vance, Actuarial Association of Europe, Unigestion, Cardano, Hermes, Carbone 4, Schroders, JPMAM, Hamilton LaneMercer – The consultancy giant has hired Samuel Lisse as CEO of its Swiss business. He joins from Vita Collective Foundation, a provider of occupational retirement funds, where he was CEO for six years. Lisse has also worked at Alexander Forbes Financial Services in South Africa as pension fund leader, and has held positions at Assurinvest and Swiss Life Pension Services. He takes over from Catherine Schoendorff who has left to pursue new projects, Mercer said.Separately, Aled Jones, principal in the consultancy’s responsible investment team, has left the company, a spokesperson has confirmed. He had been at Mercer for just over six years. Before joining Mercer Jones worked for the London Pension Fund Authority and before that at the Pension Protection Fund, in both cases developing and implementing the funds’ responsible investment strategies. He has also worked at Innovest, Jupiter Asset Management and F&C Investments.Netherlands’ Ministry of Social Affairs – Jetta Klijnsma, state secretary for pensions at the Dutch ministry of Social Affairs, has been nominated as the new Royal Commissioner of the province of Drenthe. Since 2008, Klijnsma has been state secretary in two consecutive cabinets under prime ministers Jan-Peter Balkenende and Mark Rutte. Under Rutte, she was responsible for the update of the pensions system as well as raising the retirement age for the state pension.last_img read more

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Eddie Johnson, OA Girls Basketball

first_imgI want to introduce to you Eddie Johnson who is in his first year as head coach of the varsity girls basketball at Oldenburg Academy.  His coaching career actually began when he was in high school helping with pee wee leagues, and he loved it.  He has had the opportunity to coach his 3 children through their basketball years and is coaching his son’s AAU Team in the summer.Coach Johnson is from Georgetown, Ohio.  Through his school career he played basketball, soccer, ran cross country, and participated in track–making him a well-rounded athlete.  At Wilmington College he played basketball as a freshman, but then he transferred to UC where he ran track.  He graduated with a degree in Architecture Engineering Technology.  He owns a retaining wall construction company and has been self-employed for 20 years.Eddie says that the heart and soul of the family is his wife, Anne.  They have 3 children–Hannah who is a freshman at NKU, Jake who is a junior at OA, and Katie who is a freshman at OA.last_img read more

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