Markets

Aberdeen Asset Management was hard hit by June's market sell-off, which contributed to a 1% drop in AUM for the asset manager in the second quarter of 2013 compared to the end of March.

The Bank of England (BoE) has named Sir John Cunliffe, currently the UK Permanent Representative to the European Union, as deputy governor for financial stability, replacing Paul Tucker.

Industry veteran and chief executive officer of Integral Asset Management (IAM), Nick Dewhirst, has died.

The Nikkei tumbled 3% on Friday to touch its lowest level for almost three weeks as the yen strengthened against the dollar.

The death of blockbuster pharmaceutical companies has been greatly exaggerated by a market that is too focused on '0-60' stocks, according to Liontrust's Julian Fosh.

Charles Stanley has reported a jump in revenue over the first quarter of its financial year, pointing to growing FUM and increased investor confidence.

RSM Tenon has been approached over a potential acquisition by accountancy firm Baker Tilly.

The International Monetary Fund (IMF) has warned if the US Federal Reserve begins tapering monetary stimulus, the weakest eurozone countries could be pushed into a "debt-deflation spiral".

Former Scottish Widows Investment Partnership investment director and head of research, David Keir, has joined Saracen Fund Managers.

Two of Europe's oldest institutions, Berenberg and LGT Group, are combining to launch the first closed-ended fund investing solely in social impact investments in the UK.