Vanessa Donegan has taken on the newly created role of head of Asia and global emerging markets at Threadneedle as head of GEM equities Julian Thompson and deputy manager Jules Mort leave the group.

Robert Churchlow has become Legal & General Investment Management's head of active equities, replacing Mark Burgess who is joining Threadneedle.

Ignis Asset Management has hired Mark Lovett as its CIO for equities from Allianz RCM, where he held a similar position.

Newton's Paul Brain is to run a new offshore global bond fund for BNY Mellon Asset Management based on his flagship onshore fixed income product.

Man Group has launched a Ucits compliant fund of European hedge funds, run by Robin Lowe, its head of multi-manager long/short equities.

Investors expect Moody's to cut its Aaa credit rating on Spanish debt by up to two levels after a three-month review it announced in June ends tomorrow.

European markets have fallen sharply this morning with the FTSE 100 down 1.1% or 61.8 points at 5,511.63.

J.P. Morgan's Brazil IT is now fully invested, and running with a heavy bias towards the domestic consumer.

Hearthstone Investments is launching a property fund early next year seeking to track price moves in the UK residential market.

Brazilian state oil company Petrobras has raised $70bn (£45bn) yesterday in the world's largest ever share offer.