F&C management has been appointed as investment manager for new bulk annuity entrant Synesis Life.
The company, which aims to acquire medium to large annuity portfolios from both insurance companies and pension funds, says the partnership will see F&C provide a range of services to Synesis including portfolio management, derivatives execution and advice on Asset and Liability Management (ALM). Synesis Life, which is run by former Prudential staff and is backed by JP Morgan, Royal Bank of Scotland and Warburg Pincus, says it has chosen F&C as it has committed considerable resources to the development of its ALM and insurance team. Isabel Hudson, chief executive of Synesis, says: “The ...
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