Global equity markets have eased back from last week's highs despite European financials rallying after regulators softened proposed new rules.

Investec Asset Management has hired Argonaut head of distribution John Lester to its UK client group as it beginnings rolling out its RDR proposition.

Investors still face at least two years of uncertainty before a degree of normality returns to markets, according to Jim Stride, head of AXA IM's £13bn Distribution range.

Franklin Templeton manager opts for a more concentrated portfolio, focusing on stocks with a market capitalisation of between £100m and £1bn.

The US economy added 155,000 jobs in December, broadly in line with analyst estimates, as the dollar reached a two and a half year high against the yen.

F&C chairman Edward Bramson has won the backing of investors including George Soros for a new buyout fund that will target a mid-cap UK company.

Wegelin, Switzerland's oldest private bank, is to close permanently after pleading guilty to helping US citizens pay taxes on money held in offshore accounts.

Benchmark 10-year gilt yields have moved back above 2% for the first time since last May as the equity rally is mirrored by a sell-off in core government bonds.

Neptune has launched two income funds, a Russian Special Situations fund and a frontier markets vehicle as it expands its product range.

Global equities are rallying hard as strong data from China and a deal to avert the US fiscal cliff give cause for optimism.