Kames Capital's Phil Milburn has predicted the European Central Bank will once again fall short of producing a "panacea" for the eurozone debt crisis later today but said the steps expected to be taken are more positive.

The IMA has issued a series of alternatives to the FSA's "perverse" proposed changes to the Financial Services Compensation Scheme (FSCS), having previously criticised its unfair treatment of asset managers.

Simon Cowan is to join Ignis Asset Management as fund sales director as the group continues to restructure the UK retail business away from the joint venture boutiques.

The Japanese government is being forced to consider suspending state spending as it emerged it could run out of cash within a month.

QE3

Barings' Khiem Do has said the chances of the Federal Reserve carrying out QE3 are remote, with economic indicators in the US still "reasonably strong" and by no means justifying further action.

Citigroup is to pay out $590m to shareholders in one of the biggest settlements connected to the global financial crisis, after it was accused of hiding its subprime exposure during the 2008 crash.

The UK's Serious Fraud Office has revealed it is investigating payments between Barclays and Qatar Holding during the credit crisis, in yet another blow to the bank.

L&C CIO

Barings has hired Christopher Mahon from RMB Asset Management to replace Toby Nangle, Investment Week understands.