Kames Capital's Bill Dinning said the ECB needs to urgently introduce quantitative easing to avoid a situation that would make the Lehman Brothers collapse look like "child's play".
The FSA has issued further guidance for structured product firms after identifying weaknesses in the way providers design and approve the products.
Schroders is set to soft-close its European Alpha Plus fund, managed by Leon Howard-Spink.
Threadneedle has hired Martin Currie global equities manager Neil Robson to run its Global Focus SICAV.
Markets opened lower today as investors paused for breath following last week's Europe-led rally.