Category: ztmmcolb

McCambridge saves costs in management shake-up

first_imgA shake-up in personnel at McCambridge, the Irish bread company that acquired Inter Link Foods in 2007, has seen CEO Gavin Cox leave the company with Andrew Coppel combining the role with his position as executive chairman.The move follows a restructure at the company to “deliver greater accountability”, which has seen the creation of four divisions, each headed up by its own MD. The new management structure has enabled the company to make cost savings by combining the CEO and executive chairman roles, HR director Nick St John-Moore told British Baker.Cox joined McCambridge in November 2007 as chief financial officer before becoming CEO. Andrew Coppel was named exe-cutive chairman in October 2008, after previously holding the position of non-executive chairman at the London Irish Rugby Club and Irish Tourism.”Previously, the company had 17 different business units reporting in to the CEO. There wasn’t the accountability for these sites, so we have reorganised with four divisions, each with their own MD,” said St John-Moore. “With this in place there wasn’t the need for two people at the same level. Andrew will be able to combine both roles.”McCambridge’s four new divisions (and MDs) are: own-label (George Walsh); Soreen (Paul Tripp); Ireland (Michael McCam-bridge); and niche (Martin Davey). The niche arm covers the firm’s bakery in Poland, Creative Cakes in Salisbury and five smaller bakeries in the south.last_img read more

Listen To John Lennon’s Plea For World Peace On Christmas, “Happy Xmas (War Is Over)”

first_imgJohn Lennon and his wife Yoko One never shied from their roles as peace and political activists in the 70’s. The two took part in “bed-ins” and were outspoken advocates of the counterculture movement agains the Vietnam War, going so far as to rent billboards in cities across the country that read “WAR IS OVER! If You Want It – Happy Christmas from John & Yoko“. That was in 1969.Fast-forward two years to 1971, Lennon came up with the theme and lyrics to “Merry Xmas (War is Over)”, which saw the songwriter provide an optimistic view of social unity and peaceful change with a holiday flare that witnessed the song skyrocket to the top of the charts and become an annual holiday favorite all over the world.“And so this is Xmas (war is over) For weak and for strong (if you want it) For rich and the poor ones (war is over) The world is so wrong (if you want it) And so happy Xmas (war is over) For black and for white (if you want it) For yellow and red ones (war is over) Let’s stop all the fight (now)”Enjoy a listen to the Christmas standard below. Merry Xmas to all!last_img read more

That first draft of history

first_imgIn the half-century spanning the shift from reporters in snap-brimmed hats typing stories on Remingtons to filing on their cellphones with Snapchat, journalist Bob Schieffer has had a front-row seat for the country’s most important political events.His big break came early, in November 1963 while answering the phones as an overnight police reporter at The Fort Worth Star-Telegram. A woman on the line said she needed a ride to the Dallas police station. After nearly hanging up on her, as Schieffer told CBS News in 2013, “I said, ‘Lady, you know, we’re not running a taxi service here. And besides, the president’s been shot.’ And she says, ‘Yes, I heard it on the radio. I think my son is the one they’ve arrested.’ ” Minutes later, Schieffer was driving Lee Harvey Oswald’s mother to Dallas.In May, Schieffer retired after 46 years with CBS News, where he was the network’s chief Washington correspondent and at various points covered the White House, Congress, the State Department, and the Pentagon. For more than two decades, he anchored the Saturday edition of “CBS Evening News” and moderated the Sunday political roundtable “Face the Nation.” He earned numerous awards, including eight Emmys and the Edward R. Murrow Award, and is a National Academy of Arts and Sciences Hall of Fame inductee.This month, he begins a three-semester appointment as the Walter Shorenstein Media and Democracy Fellow at the Shorenstein Center for Media, Politics, and Public Policy at Harvard Kennedy School, where he will focus on the 2016 presidential election. From noon to 1 p.m. on Sept. 15, Schieffer will address the status of the election campaign as part of the Shorenstein Center Speaker Series at Harvard Kennedy School’s Taubman Building.Schieffer spoke with the Gazette about his career, the evolution of American politics and journalism, and what he’s looking forward to during his time at Harvard.GAZETTE: Did you ever imagine life after journalism? How does it feel so far?SCHIEFFER: If somebody had told me when I was working the night police beat at The Fort Worth Star-Telegram that I’d be lecturing at Harvard, I would have thought they were out of their mind. I’m not only honored to be doing this, there’s a certain amount of humor in it. I’ve been to Harvard many times over the years, and I love to come up there, so this is going to be a lot of fun, and I’m really looking forward to it.GAZETTE: When you look back, what’s been the most satisfying work you’ve done?SCHIEFFER: The part that I feel so lucky about was when I was in the eighth grade, I decided I wanted to be a reporter. I wanted to be a newspaper reporter after I wrote my first story in the junior high school newspaper. Then I grew up and got to do that. And that is the part that I feel most thankful about. The second half of the 20th century was a very important time, and I got to be there for a lot of those big events. The stories that had the biggest impact on me were, first, the Kennedy assassination and then 9/11. I was there for both of those major events. Between those, you had Watergate and the Vietnam War. Oddly enough, most of the recognition I got in my career came after those events, and after I was 65 years old, when most people retire. I wrote three books after that, one of which was a bestseller, “This Just In.” I also moderated three presidential debates in those years. I’ve always kind of joked that if I were a racehorse, the touts would probably list [me as a] “late foot.” I kept moving around the track after most people had gone off to retire.GAZETTE: Journalism has changed dramatically from when you first started out. Is the profession better or worse now, and is the public better served or not as a result?SCHIEFFER: It’s a very hard question to answer as to whether it’s better or worse. What has happened is it’s been turned upside down and we’re still trying to figure it out about where we are, where people get their news. When I was a newspaper reporter, most people got their news from the printed press, from newspapers. The idea that, when I came to work in Washington in 1969, that a Washington Post reporter would be carrying a video camera when he went out to do an interview with somebody — no one could have imagined that. The whole idea of how we get information and how we try to explain to people what’s going on, all of that has changed. I know we can do it a lot faster, but whether we’re giving people the complete story, that’s a whole different question.GAZETTE: Now that you’re off the clock, what do you think of the 2016 presidential race so far?SCHIEFFER: Every campaign is different, and this may be the most different yet. I think we’re at a real turning point in this country. I think we’ve had a total breakdown in our political system: the way we elect people, the way we conduct our politics now. And you can see it on both sides now, Democrats and Republicans. This is not the way that we ought to be electing people, and these are not campaigns that are about what they ought to be about. I think it all goes back to the way that money has now overwhelmed our political system. People used to get into politics because they wanted to change things, or they wanted to do something. And we have too many people now who are just running to get themselves elected so they can raise some money and get elected the next time and use these congressional/federal offices as a steppingstone to bigger and better things. And it just didn’t use to be that way.I take Donald Trump very seriously now. I think he could wind up getting the Republican nomination. He keeps saying what all he’s going to change, but he hasn’t offered any solutions yet. So I don’t know where this goes.GAZETTE: Why do you think Trump has been able to grab people and defy all conventional wisdom?SCHIEFFER: I think he’s made a very good list, a wonderful catalog, of all the things that people are upset about and worried about and concerned about. He hasn’t proposed any solutions, but he has managed to make a list of things that people feel frustrated about, and I think this frustration comes from the fact that the government doesn’t work anymore. [Ronald] Reagan used to talk about the “shining city on the hill.” Well, we’ve become the town where nothing works. The IRS doesn’t work, the Veterans Administration doesn’t work, the EPA sets off a disaster in Colorado. Nothing seems to work the way it used to, and people are upset about that. He says he’s going to build a wall down along the southern border and make Mexico pay for it. How? Who’s he going to send the bill to? Does he send it to the mayor of Juarez, or does he send it to the president of Mexico? And how’s he going to collect? These are not solutions.GAZETTE: Last May, Fox’s Howard Kurtz asked you if the media had been too easy on Barack Obama during his 2008 presidential campaign. You said, “I don’t know. Maybe we were not skeptical enough.” Can you elaborate? What did reporters miss?SCHIEFFER: I don’t really think that reporters had the kid gloves on with Barack Obama, but he was new, and he was exciting, and he was a great story, and he made a great speech. And I think people didn’t question how’s he going to get these things done, how will he be at getting coalitions together, how well did he get along with people in the Senate while he was there, those kinds of questions. I think we probably should have been more skeptical, but he was such a good story.GAZETTE: Of all the presidents you’ve covered, who had the worst and best relationship with the press?SCHIEFFER: You have to put [Richard] Nixon off in a place by himself — he’s retired several trophies. But the fact was he also accomplished some very good things: the opening to China, the arms control [treaties] that he negotiated with the Soviet Union were major achievements, and you’ve got to give him credit for that.GAZETTE: He didn’t get the appropriate credit at the time?SCHIEFFER: I don’t think he did. But the fact is he did some important things in foreign affairs; he just didn’t know very much about the Constitution.Jimmy Carter had a very, very difficult time with the Congress. He flooded the Congress. He came in with a lot of ideas, some of which were quite good. But in the beginning, he didn’t have a chief of staff, and he didn’t set priorities, and he just overwhelmed the Congress, and they didn’t know which things he thought were the most important. And so, as a result, he didn’t get very much done. The Camp David peace accords were extremely significant, the most important legislation or agreement of this century in regard to Israel because it removed Egypt as the main opponent and threat to Israel, and that’s a big deal.I think in, retrospect, Reagan turned out to be a better president than I thought he was when he was president, because he wasn’t solely responsible for bringing down the Soviet Union by a long shot, but he forced them to spend more than they had to spend on defense, and their whole economy collapsed. So I think you have to give him credit for that.Lyndon Johnson, who made an enormous mistake about Vietnam, was probably, in retrospect, the one who knew the most about the government and how to make the government work. The ’64 and ’65 Civil Rights bills were remarkable pieces of legislation, and I think only now are we beginning to give him the credit that he deserves on that.GAZETTE: Wasn’t his relationship with the press pretty testy?SCHIEFFER: It was testy, but he knew how to work the press. He would deal directly with reporters. I mean, if he didn’t like the story, he would call them up and he would tell them. And he dealt the same with the Congress. But he got a lot done. Some of the reporters liked him, and some of them didn’t. He knew the issues, and he knew who was important and what you had to do to get something passed. And he did that time and time again.The person who had the best relations with the press was Gerald Ford when he came in, before he pardoned Nixon. After he pardoned Nixon, his relations were never quite as good as they had been at the time. I have now come to believe, as has Bob Woodward, that pardoning Nixon was the right thing to do. But I can remember, I was the White House correspondent when that happened, and I was absolutely furious. I just couldn’t understand why he did it. And I’ve now come to think he probably did the right thing. If they had put Nixon on trial, the country would have come to a complete stop for two years.GAZETTE: You covered Carter’s campaign and then his time in the White House. Do you have a favorite story from those days?SCHIEFFER: His brother Billy, who owned this gas station down there, he was a true character. He was crude, but he could be kind of funny. So his daughter gets married, and they invited me to the reception. I didn’t get invited to the wedding, but I showed up at the reception. Billy had worn a yellow tuxedo for the wedding, so he was there, and they had all the gifts out in the garage. Out in the backyard, they had this rowboat filled with “Billy Beer.” Billy had gotten his own brand of beer, and it was out there on a rope. And if you wanted a beer, you reached down and pulled the rope and pulled the boat over to the edge of the pool and got yourself a beer. It was truly a wet bar [laughs]! The great thing about being a reporter is you get to go places and see things and talk to people that regular people don’t get to do — and I truly lived that.GAZETTE: In “This Just In,” you talked about an important early mentor, “Phil the Hat,” a colleague who showed you the ropes and taught you some of the key unspoken rules about being a good journalist. What’s your “Phil the Hat” advice to today’s young journalists?SCHIEFFER: Get a hat [laughs]. My advice to kids is show up on time, and on time in journalism means getting there early. Do a little preparation. People always appreciate it when you have done a little work to get ready for the interview. And ask obvious questions. The biggest mistake that most young reporters make is they say, “Oh, I know what he would say if I asked him that question.” Every time in my life that I have assumed that I knew what somebody was going to tell me, somebody else asked him the question, and it made news. A reporter’s worst enemy is assuming you know what the answer is going to be so you don’t ask the question. Or you’re afraid to ask the question because you think, “Well, the person will think I’m dumb.” You never know what somebody’s going to tell you until you ask them. And most of the time, they’ll say just what you thought they were going to say, but the one time you don’t ask them is the one time they had something you weren’t expecting.GAZETTE: What will your focus be at the Shorenstein Center?SCHIEFFER: My theme is going to be this breakdown of our political system, the way we go about electing people now, the influence of money, and how that’s changed things. I don’t know the answers. I’m hoping that somebody will come up with some answers about how we can change this and make it better. That may be a long time coming, but we’ve got to do something. We cannot remain a superpower if we continue to operate the government the way it’s now being operated, where we can’t make decisions on anything, where we shut down the government at a moment’s notice because somebody’s ideology has gotten in the way. This has got to end if we’re going to continue on.This interview was edited for length and clarity.last_img read more

Colombian National Navy Seizes Semisubmersible

first_img During maritime control operations, National Navy units seized a semisubmersible in the Colombian Pacific, about 60 nautical miles to the west of the Naya River’s mouth, which borders Valle del Cauca and Cauca districts. The operation was carried out by air and land units belonging to the National Navy’s “Poseidón” Task Force against Drug Trafficking, which seized the self-propelled semisubmersible that was approximately 15 meters long and three meters wide with a capacity to transport up to four tons of cocaine cocaine hydrochloride. The semisubmersible vessel, which apparently belonged to criminal gangs for drug trafficking, was found adrift in open waters, without a crew or cargo. According to preliminary reports, the vessel was to be loaded at that location, before continuing its trip to Central America. It is the first semisubmersible seized in 2013 by the National Navy, after eight similar vessels were seized in 2012. Including this seizure, 82 illegal artifacts have been either seized or neutralized since 1993, when the first drug trafficking semisubmersible was confiscated. The National Navy will continue developing offensive operations on a permanent basis, with the goal of neutralizing logistic structures of illegal organizations and their entire production chain to transport drugs. By Dialogo January 10, 2013last_img read more

Jericho Quadrangle Bomb Threat Probed

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Nassau police investigated a bomb threat at Jericho Quad on Friday, April 19, 2013.Nassau County police are investigating a bomb threat that was phoned into the Jericho Quadrangle office complex, prompting its evacuated for a search Friday morning.A police spokeswoman said the caller claimed there was a package in the building at 10:15 a.m. but officers on the scene found nothing in both 200 and 300 Jericho Turnpike. Hundreds of workers waited outside for more than two hours during the search.“It’s probably nothing,” said one Optimum Online employee. “No body knows anything, it’s all hearsay.”Police entered both buildings with bomb-sniffing dogs but did not let the employees back in at first.“There are still cops around,” said another Optimum Online employee who was standing under the shaded walkway in the back of the building parking lot. “I don’t like the idea of it.”Police eventually let the workers back into the office building after they officially concluded that there was no threat.The investigation is continuing. Detectives request anyone with information regarding this crime to contact Nassau County Crime Stoppers at 1-800-244-TIPS. All callers will remain anonymous.last_img read more

I Didn’t Google Clare’s Contestants

first_imgUs confirmed in August that Tayshia arrived in Palm Springs to meet Clare’s suitors after the 39-year-old Sacramento resident accepted a proposal from Dale Moss within the first two weeks of filming. After months of speculation, Tayshia made her first appearance during the Thursday, November 5, episode of The Bachelorette after Clare and Dale, 32, got engaged.“I couldn’t have asked for, like, a better group of men. I’ve always said that I want an older, more mature man that has depth and all of these guys have exactly that,” Tayshia gushed to Us. “It was, like, perfect.”The Bachelor season 23 contestant, however, admitted that she had her doubts when ABC first called her to take over because the remaining men were picked specifically for Clare.- Advertisement – “Every single guy really reassured me that they were so happy and excited. And once I had that confidence, I was like, ‘OK, I got this.’ But there were some guys, yes, that were still having feelings for Clare,” she said. “And so we talked about that as well.”The Bachelorette airs on ABC Tuesdays at 8 p.m. ET.Listen to Here For the Right Reasons to get inside scoop about the Bachelor franchise and exclusive interviews from contestants “Naturally, that’s a hesitation you have. The guys knew that it was going to be Clare, and I didn’t know if they were going to be accepting or if they were willing to open their hearts,” she told Us. “If they had fallen in love, like, I didn’t know what was going on. So, it was definitely a hesitation.”Tayshia teased that Bachelor Nation will see her confront the men about any leftover feelings for Clare on the Tuesday, November 10, episode.- Advertisement – It may have been love at first Instagram stalk for Clare Crawley, but Tayshia Adams claims she didn’t do research on The Bachelorette season 16 contestants before she took over for the hairstylist.“When I was in quarantine, I didn’t think that this phone call was ever going to come. … I did look at the guys once they were first announced for Clare, but that was, like, months and months ago,” the 30-year-old former phlebotomist exclusively told Us Weekly on Monday, November 9. “I didn’t really have the chance to look at them before. And I’m glad I didn’t, to be honest.”A Cue From Clare? Tayshia Adams Reveals Whether She Cyberstalked Her SuitorsCraig Sjodin/ABC- Advertisement – – Advertisement –last_img read more

The premiere of a new CNTB promotional video at the WTM fair in London

first_imgFrom November 06 to 08, 2017, the World Travel Market begins (WTM), the leading global event for the travel industry held in London for the 38th time.The WTM fair is held every year in London and is the largest business tourism fair in the world, with 5500 exhibitors from 180 countries and visited annually by more than 50 tourism professionals, tourism ministers and other close departments and media representatives. Last year, according to estimates, tourism worth a total of around 2.5 billion pounds was contracted within WTM, and this fair marks the beginning of the “official” season of fair appearances, as well as other types of promotional activities with the aim of preparing the next tourist year.On the occasion of the WTM fair, the Ministry of Tourism and the Croatian National Tourist Board will present a new Croatian promotional tourist video. The presentation will be held at WTM, at the stand of the Croatian National Tourist Board during the Wine & Cheese gathering on Tuesday, November 7, 2017, starting at 17:30 p.m. The new promotional video was shot at various recognizable locations in Croatia and features 10 celebrities from the world of sports and art. In addition to well-known Croatian destinations, the video also aims to promote other forms of offer, such as cultural and historical heritage, eno-gastronomy, active vacation, nautical, natural beauty and other segments of Croatian tourism.Also, in addition to the premiere of the video, Croatia should present itself with new promotional stands, ie the concept and creative solution of appearing at tourist fairs.See the full description of the selected concept here The 11th edition of the November 7 UNWTO / WTM Ministerial Summit, entitled “Overtourism: Growth is Not an Enemy, But How We Manage It”, will address issues such as managing and measuring the impact of tourism or the role of the private sector in promoting tourism as an effective instrument for achieving sustainable development goals. As UNWTO Secretary-General Taleb Rifai said.Growth is not the enemy. Growing numbers are not enemies. Growth is the eternal story of humanity. The growth of tourism can and should lead to economic progress, jobs and resources to finance environmental protection and preservation of cultures, as well as community development and needs for progress that are not otherwise available. “This year, the Croatian tourist offer will be presented at a stand of 280 m2, where, in addition to the Croatian Tourist Board, 25 co-exhibitors will present their offer.For more information on WTM in London, see hereRelated news:IF AT LEAST A TIE WAS A CROATIAN PRODUCT, THE WHOLE WORLD WOULD KNOW ABOUT CROATIAlast_img read more

Business Expectations Survey

first_imgThe Croatian Chamber of Commerce is conducting a Business Expectations survey, which will enable us to forecast business cycles in the economy based on the experience of entrepreneurs.The aim of the survey is to draw attention, ie to warn the competent institutions and the public in a timely manner of short-term changes in economic trends and upcoming challenges, ie limiting factors that businessmen face in doing business. “The survey consists of several simple and short questions about the forecast of key business indicators such as income, investment, number of employees, forecast of general business conditions and the biggest challenges, ie limiting factors. Business expectations are modeled on the world’s most recognized research of this kind and will be conducted twice a year”Point out from the Croatian Chamber of Commerce.Given that entrepreneurs ’responses will be the basis for developing guidelines to improve the business and entrepreneurial climate, this is an opportunity to give your suggestions and opinions in an argumentative and constructive way, not just on Facebook, from which there is no effect. The survey is active until November 24, 2017, and can be found at the following link: Business Expectations Surveylast_img read more

Jamie Redknapp: Mikel Arteta needs to sort behaviour issues of Arsenal duo Mesut Ozil & Granit Xhaka

first_img Comment Ljungberg was furious with Ozil for his reaction to be substituted (Picture: AFP)‘Managers and their sidekicks react differently to defeats.‘Years ago, when my dad would lose matches, my mum would tell me to stay out of his way.‘So let’s see how Arteta does, now he is the one in the hotseat.’ There has been outbursts from Ozil and Xhaka this season (Picture: Getty)Mikel Arteta has to address a culture problem at Arsenal, according to Jamie Redknapp.While performances at Arsenal have been dismal this season, there has also been individual outbursts from key Gunners, like Granit Xhaka and Mesut Ozil.Freddie Ljungberg was furious with Ozil’s reaction to be substituted in the defeat to Manchester City and Redknapp warned new head coach Arteta about the deeper issue at Arsenal.‘Could you imagine Granit Xhaka doing what he did towards Arsenal fans, or Mesut Ozil kicking his gloves in anger, if Pep Guardiola or Jurgen Klopp were in charge at Arsenal? No, me neither,’ Redknapp wrote in the Daily Mail.ADVERTISEMENT Arteta has a huge task on his hands to turn Arsenal around (Picture: Getty)‘Players get away with too much at that club and new manager Mikel Arteta has a culture problem to solve.AdvertisementAdvertisement‘Arteta talked about being ‘ruthless’ at his unveiling on Friday evening and that is what he has to be.’Arteta was confirmed as Arsenal’s new permanent coach last week and watched from the stands at Goodison Park as Arsenal drew 0-0 against Everton.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityThe Spaniard took his first training session on Sunday and joins Arsenal having served as Pep Guardiola’s No.2 at City.‘Being a No 2 is a world away from being a No 1,’ Redknapp said.‘Arteta now has to make the big decisions, nurture players, talk to the press, take defeats on the chin. Everton v Arsenal: Mikel Arteta first press conferenceTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 15:44FullscreenEverton v Arsenal: Mikel Arteta first press conferencehttps://metro.co.uk/video/everton-v-arsenal-mikel-arteta-press-conference-2074552/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.MORE: Arsenal ready to make Kevin Volland Mikel Arteta’s first signingMORE: Mikel Arteta warned he may be forced to sell Arsenal stars Pierre-Emerick Aubameyang and Alexandre Lacazette Jamie Redknapp: Mikel Arteta needs to sort behaviour issues of Arsenal duo Mesut Ozil & Granit Xhaka Coral BarryMonday 23 Dec 2019 9:25 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link4.4kShares Advertisement Advertisementlast_img read more

AP1 awards $400m global high-yield mandate to Hermes

first_imgAP1 was now working on legal documents with two other managers that could not yet be named, Chammas said.Chammas and Tina Rönnholm, portfolio manager responsible for external high-yield investments at AP1, said: “We share the same belief [as Hermes Investment Management] around our duty of delivering strong returns to our stakeholders, including considering the impact on society as a whole.”They said the Hermes team was very advanced in the way it integrated environmental, social and governance issues in its core investment process.“Their innovative approach of pricing ESG risks in terms of spread in their fundamental credit analysis is leading in the industry,” Chammas and Rönnholm said.Fraser Lundie and Mitch Reznick, co-heads of credit at Hermes Investment Management, described AP1 as innovative and forward-thinking.“Clearly they, like us, believe that creditors have as much interest as shareholders in seeing companies’ ESG practices improve and that active engagement can facilitate those improvements,” the two men said.The investment manager – which is wholly owned by the BT Pension Scheme – said its credit team put a high priority on combining investing with engagement to improve outcomes for investors, the company and its employees, all stakeholders and the environment. Sweden’s first national pensions buffer fund AP1 has awarded a $400m (€338m) high yield bond mandate to Hermes Investment Management.AP1, which manages SEK323bn (€33.9bn) of assets for the state pension system, said it was adding the global high-yield bond investments to its portfolio to increase geographical diversification of the asset type.The pension fund put out a tender last December to find investment managers to run three high-yield bond strategies – global high yield, US high yield and European high yield.Majdi Chammas, head of external management at AP1, told IPE that Hermes was the second global high-yield manager it had picked for these mandates, after taking on TOBAM for the asset class in April.last_img read more