January 23, 2006 Issue Abstract

Risk Management: CalPERS Implements a Risk Evaluation System Initially Targeting High-Level Decisionmakers. The California Public Employees’ Retirement System (CalPERS) has rolled out its Risk Management System to its high-level decision makers, providing the country’s largest public pension plan with an enterprise-wide risk management view.

Industry Alert: Real-Time Data Emerging as Mandate Among CFOs. Consistency and accuracy of data, as well as speed of data delivery, are the greatest concerns of chief financial officers at financial services firms on both the buy and sell sides, according to IBM’s Chief Finance Officers Study.

Spotlight: Markus H. Ruetimann, Group Head, Operations & IT, Schroder Investment Management.

Global Asset Services: Dexia Joint Venture Propels RBC to Custody Top 10. Royal Bank of Canada (RBC) and Dexia have completed the formation of their joint venture, RBC Dexia Investor Services, combining their institutional investor services businesses into an entity with nearly $2 trillion in assets under custody.

Securities Trading: Lehman to Leverage Townsend Execution Services. On the heels of its acquisition by Lehman Brothers, software and services provider Townsend Analytics, Ltd. hopes to expand its reach to a larger client base while maintaining its neutrality for brokers.