Morningstar Investment Management, La Française AM, Redington, Union Investment, Kames CapitalMorningstar Investment Management – Clémence Dachicourt and Marina Jelesova have joined the Morningstar Investment Management group as senior investment consultant and portfolio manager, and investment consultant and portfolio manager, respectively. Before joining Morningstar, Dachicourt managed €400m of assets in traditional and alternative multi-asset funds for La Française AM. Additionally, Dachicourt held roles as senior hedge fund analyst for Lyxor Asset Management, portfolio manager and buy-side analyst for UBS, and equity portfolio manager for CDC Ixis AM. Jelesova joins from Redington, where she advised institutional investors in her role as asset liability management and investment strategy associate. She also served as a hedge fund analyst for BNP Paribas Investment Partners and credit portfolio manager for Credit Agricole CIB.Union Investment – Michael Schmidt, managing director and CIO for equities, is leaving the German fund management company at the end of this year. Schmidt took charge of Union’s equity portfolio management in 2009. He now intends to take a “career break” after 22 years in the financial services industry. Until a successor has been found, Björn Jesch, head of portfolio management, will take on Schmidt’s responsibilities alongside his own.Kames Capital – Fiona Hope has been appointed institutional client director. She joins from the charity LinkAble, where she was a trustee and voluntary fundraiser. Hope has more than 20 years’ financial services experience, including 18 years in client relationship roles for the likes of Deutsche Asset Management, JP Morgan Fleming Investment Management and Merrill Lynch Investment Management.
Cargo ship Star Gran has become the first Grieg Star-owned vessel to undergo recycling under the new EU recycling regulations.The Norwegian shipping company said the 43,759 dwt vessel started the recycling at LEYAL Ship Recycling Group in Turkey on February 20.Grieg Star noted that the cargo ship was one of the first vessels to be recycled under the EU regulation on Ship Recycling (EU SRR).“Star Gran is 33 years old, and it is time for her to have her last voyage. She has served us well, and it is wistfully we send her to the recycling yard. With Grieg Green’s expertise and the quality of LEYAL Ship Recycling Group, we feel confident in a transparent and high quality process,” said CEO Camilla Grieg.The new EU SRR regulation came into force on December 31, 2018. It mandates the recycling of all large sea-going vessels sailing under an EU flag to take place in yards included in the European list of ship recycling facilities. The European list contains currently 26 yards, most of them located in the EU, but also in Turkey and the USA, and additional yards are expected to be included in the list in the future.According to the European Commission, European ship owners own 35% of the world fleet. A large percentage of these is being dismantled in South Asia, under conditions often harmful to workers’ health and the environment. With the full entry into force of the EU Regulation on ship recycling, this will no longer be possible for EU-flagged vessels, which will have to get dismantled in EU-listed yards.