ALM's role grows

摘要

All the noise surrounding pension liabilities and EU-wide reform has meant that asset liability management solutions have now become one of the hottest topics in the investment banking world. Natasha de Teran asks what role equity derivatives can play. Pension liabilities are the bane of many corporates' existence and a worry for people who are not blessed with solvent defined benefit schemes or a good pool of retirement assets to cushion them in their old age. They are also a considerable concern for the governments of countries with ageing populations and workforces that still believe the state will provide for them - especially if corporate or private schemes fail.