HSBC has become the first bank to turn away US clients who bank offshore in a move to appease the US Inland Revenue Service's FATCA laws, due to come into force in 2013.

Rathbones has further expanded its team of investor directors with the appointment of Peter Anwyl-Harris and James Brennan.

Bank shares climbed in early trading, regaining some ground after Friday's stress test results caused sharp falls in the UK's major banks.

Boutique asset manager Polar Capital is preparing to soft-close three of its most high profile funds, including the £446m Global Technology fund.

Former SWIP portfolio manager Divya Mathur will head up Martin Currie's forthcoming India fund, which is likely to come to market next year when there is sufficient investor appetite for the product.

Moody's ‘red flag' corporate governance report casts shadow over Chinese companies.

Chinese equities will bottom out this year, according to Mansfield Mok, manager of the £1.2bn GAM Star China Equity fund, who also forecasts China's central bank will loosen its monetary policy in the second of half of this year.

The Federal Reserve chairman Ben Bernanke has ramped up pressure on Congress to agree on its debt ceiling level, in light of rating agencies S&P's and Moody's threats to cut the US' triple-A debt rating.

Manager says Greece's austerity and ‘bipolar' sentiment in US pose crucial headwinds.

GAM has launched the GAM Star Global Quality fund, a product focusing on developed market equities.