UK

Canada's Bank of Montreal (BMO) has agreed a deal to buy F&C for £708m in cash.

Invesco Perpetual's Mark Barnett is to become manager of the £1bn Edinburgh investment trust as of today, taking over from Neil Woodford ahead of the latter's forthcoming move to Oakley Capital.

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F&C shares have jumped by more than 20% after the group said it has received a takeover approach from Canada's Bank of Montreal (BMO).

As revealed by Investment Week last Friday, Zurich is launching Zurich Horizon Investment Solutions, a new investment proposition comprising a range of risk profiled funds managed by Threadneedle Investments.

Threadneedle head of US equities Cormac Weldon and fellow team member Stephen Moore are to join Artemis to launch a US equities franchise.

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Neil Woodford will be assisted in his new venture at Oakley Capital Management by Nick Hamilton, formerly a head of product at Invesco Perpetual.

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