BlackRock has taken over management, on an interim basis, of at least seven funds listed in Ireland, which are run for Nestlé’s pension funds around the world.
A spokesperson for Nestlé in Switzerland confirmed to IPE: “It’s a global decision which impacts our colleagues here in Switzerland and the ones based in UK.”
A source for Nestlé in Germany told IPE one of its Spezialfonds has had to source a new manager. However, most of Nestlé’s German pension assets were already managed externally, the source added.
Nestlé Capital Management (NCM), based in York, UK, was founded in 2006. NCM and Nestlé Capital Advisers (NCA), based in Vevey, Switzerland, employ a number of internal investment experts.