Tag Archives: State Street
How pensions are impacted by the bank bonus culture
State Street need something better than the “need and greed” culture that fostered these frauds and Mastertrusts and IGCs need something better than the toothless response to these excesses Continue reading
Posted in Bankers, State Street, target date funds
Tagged Bank, Bankers, Business, corporate governance, corporate risk, dc pensions, Defined benefit pension plan, DWP, Financial services, Government, National Employment Savings Trust, NEST, pension, Pension new, pensions, Politics, Public Sector Pensions, State Street
1 Comment
Better hid.
The trustees of NEST have been faced with a dilemma and it’s clear they have considered it and taken decisive inaction. This blog sets out to explain and justify why the Trustees of our National Employers Savings Trust have chosen … Continue reading
Quis custodiet ipsos custodes?
I am glad to see that Sam Broadbeck of Pensions Insight has not allowed the State Street scandal to fall off the radar just yet. Writing in Pensions Insight, Sam points out that while Transition Management is not the … Continue reading
Reputational damage?
If you ain’t got nothing , you ain’t got nothing to lose! So sang Bob Dylan and this appears to be the tactical approach of some financial services companies who continue in their endeavours in the face of massive reputational … Continue reading
Too big to worry about – what’s should we do about State Street?
I wrote yesterday about State Street’s £22.9m fine from the FCA for stealing $20.2m from 6 large clients. Whether this was all the money stolen or whether these were the clients who they found out about is not mentioned. We’ll … Continue reading
Posted in NEST
Tagged Business, dc pensions, Employment, Government, Insurance, NEST, pension, Scottish Widows, SSgam, State Street
1 Comment
What do you do when the lights go out?
Professional Pensions run the story of the £22.9m fine dished out to State Street who had been double charging clients for years. I had thought of custodians till recently as their name suggests as guardians of assets, not as asset strippers. … Continue reading
Posted in Bankers, governance, pensions
Tagged Banks, Business, Custodian, custody, Employment, finance, Financial services, Fraud, Government, National Employment Savings Trust, pension, pensions, Retirement, State Street, Theft
3 Comments