Aberdeen Asset Management CEO Martin Gilbert has sold £771,000 worth of his shares in the company in a bid to bolster Aberdeen portfolios.

Aviva Investors has seen yet another high profile departure as upheaval continues within the insurer's asset management arm.

Jeremy Soutter, the global head of products at Aviva Investors, has left the firm following a restructure.

Nearly half of investment managers see merger & acquisitions as the best route for growth as senior figures become more optimistic about the economy, a KPMG Investment Management survey found.

MARKETS

GLG has launched a UCITS III version of its long/short financials strategy, managed by David Sanders and Stephen Holliday.

Spain has announced plans to cut its budget by €27bn in 2012 as part of one of the toughest austerity drives in history.

Polar Capital is offering a special share class to investors in William Calvert's $33m (£21m) Emerging Markets Income fund.

BIG INTERVIEW

Credit ratings agency Fitch has confirmed the European Union's long-term issuer default ratings at AAA.