Industry

A report by think-tank New Financial has suggested fund manager pay may overtake that of investment bankers by 2016, following a sharp rise since the financial crisis.

Brooks Macdonald has launched five new risk-rated portfolios, doubling the number of strategies in its managed portfolio service (MPS).

Smith & Williamson posted record profits for the six months to 31 October last year, helped by the performance of its investment management division.

Carbon Financial Partners took home the inaugural Adviser Firm of the Year (UK) trophy at the 2015 Professional Adviser Awards, which recognises excellence across adviser firms, providers, platforms and asset managers.

BNP Paribas Investment Partners has appointed Mike Woolley as head of external distribution for the UK.

Royal London Asset Management (RLAM) has reported net external business inflows of £2bn in 2014, driven by sales of Martin Cholwill's UK Equity Income fund.

THE BIG QUESTION

BlackRock has hired Deborah Winshel as managing director and global head of impact investing as it launches a dedicated platform for investors with social and environmental criteria.

Last week, Neptune announced an overhaul of its research and business operations following disappointing fund performance in recent years.

The partners of Seven Investment Management (7IM) are considering selling the business, according to reports.