The European Commission is considering offering Spain direct aid from the eurozone rescue fund to recapitalise distressed banks, as the country's government bond yields approach record highs.

The Share Centre has ditched T1PS Investment Management's Tom Winnifrith as manager of its two small-cap mandates in favour of former Unicorn founder Peter Webb.

Hargreaves Lansdown's investment manager Ben Yearsley has left the firm by mutual agreement.

WEALTH MANAGERS

Two top commentators have given their views on how euro leaders should take steps to resolve the eurozone debt crisis, with both calling for Greece to stay in the euro.

Citigroup's top economist Michael Saunders has forecast Greece will exit Europe's single currency on 1 January 2013, and its new currency will immediately depreciate by 60%.

The head of the Vatican Bank, Ettore Gotti Tedeschi, has been sacked for neglecting duties, just a few years after he was embroiled in a money laundering scandal.

Fidelity Worldwide Investment has confirmed John Clougherty is joining as head of UK retail, as Investment Week exclusively revealed yesterday.

Stephen Snowden has begun adding risk to Kames Capital's £330m Investment Grade portfolio after risk assets fell to "ferociously cheap" levels.

Smith & Williamson Investment Management is the latest group to add institutional share classes to its entire pooled funds range in preparation for RDR.