India CSR News Network
Zurich, Switzerland: The renowned investor magazine Chief Investment Officer (CIO) has selected ABB’s Group pension management as the winner of its 2016 European Innovation Award, recognizing the best new thinking in risk management, asset allocation, portfolio construction and securities selection.
“We are honored to win the Innovation Award from such a reputable investor magazine,” said Eric Elzvik, ABB CFO. “In the last couple of years, we succeeded in implementing a consistent asset allocation model across the ABB Group and set up a comprehensive risk management framework, which has put our pension plans around the world on a stronger footing.”
ABB manages pension liabilities of more than $12 billion, spread over many different pension plans. The company has a portfolio of open and closed plans, with different benefit payment structures, that insure more than 400,000 people.
“We are privileged to receive this award among so prestigious peers. It encourages us to continue our successful approach, which delivered attractive risk adjusted returns”, said Elisabeth Bourqui, Head of ABB Group Pension Management.
The European Innovation Awards are split into two general categories: asset management, and servicing and asset owners. ABB won in the category asset management for corporate industry pension schemes with less than 5 billion euros under management. The magazine selects winners based on input from its awards Advisory Board, as well as surveys and data where applicable.
ABB is a leading global technology company in power and automation that enables utility, industry, and transport and infrastructure customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in roughly 100 countries and employs about 135,000 people.