RWC has signed a deal with European fund house Hermes which will see its $800m Focus fund range and the three teams running the products transfer to the boutique in October.

Global markets rallied at the end of last week as the Federal Reserve unleashed QE3, prompting some investors to call the start of the next major bull market in equities.

Invesco Perpetual is hoping to match the success of its £15bn fixed income range with the launch of its upcoming multi-asset arm, following the hire of three managers from Standard Life Investments' GARS team.

Former Standard Life Investments fund manager Lance Phillips has joined L&G Investment Management as head of active equities.

Billionaire investor George Soros has said the eurozone crisis will only be resolved when Germany "wakes up" and realises it is to blame for introducing a single currency in the first place.

M&A

Marcus Chandler has joined Kames Capital to work with his former LV= Asset Management colleagues Piers Hillier.

The IMA has announced a series of changes to its board with the appointment of Andrew Formica, (pictured) chief executive of Henderson Global Investors, and Mark Zinkula, CEO of L&G Investment Management.

Liontrust Asset Management has hired Samantha Gleave from Bank of America Merrill Lynch as the third manager on its European team.

Invesco Perpetual has appointed David Millar, Dave Jubb and Richard Batty to form a new multi-asset group as part of a drive to expand its business.