Credit ratings agency Moody's has cut the rating of the Royal Bank of Scotland, amid fears its restructuring will 'heavily depress' profits.

Vinculum Fund Management, launched by former chief executive of Liontrust Nigel Legge in 2011, has closed after failing to raise sufficient assets.

David Coombs, head of multi-asset at Rathbone Unit Trust Management, is cutting out all passive equity exposure across his fund range and buying concentrated, high conviction portfolios in an effort to add alpha.

Michael Paul, investment manager at City Asset Management, is joining Brewin Dolphin's research team.

Richard Romer-Lee's Square Mile consultancy has poached another research analyst from Morningstar OBSR as head of risk based solutions research.

GAM is set to soft-close Michael Lai's GAM Star China Equity fund after a jump in size in recent months.

BlackRock has hired Helen Zhu from Goldman Sachs as head of China equities for Andrew Swan's team.

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Polar Capital's chief executive Tim Woolley has sold 500,000 shares in the company for almost £2.4m.

The US economy added 175,000 jobs in February, ahead of estimates and confounding fears that continued bad weather would hurt the employment recovery.