UK

Deutsche Asset & Wealth Management has named Jonathan Kent as head of financial intermediaries distribution for the UK and Ireland.

Legal & General (L&G) has signalled its intention to become a "major player" in delivering low cost passive investment solutions to UK retail clients as the group saw profits rise 13% in the first half of the year.

A number of UK equity income managers have begun building positions in Lloyds Banking Group as the lender prepares to return to the UK dividend register.

Credit Suisse has completed the sale of J O Hambro Investment Management to the private client business' management team and Bermuda National Limited (BNL).

ON UK GROWTH

Alan Hughes, the former chief executive of First Direct, is to lead a £1bn bid to buy 315 branches of Royal Bank of Scotland (RBS).

Bank of England Governor Mark Carney will this week set out his long-awaited strategy for interest rates with a set of policies designed to reassure borrowers rates will stay low for many months to come.

The new chief executive of the Royal Bank of Scotland, Ross McEwan, was facing his first challenge this weekend after leading shareholders in the bank signalled they would not support breaking it up even if the Treasury insists on going ahead.

Popular stories among our readers this week focused on asset allocation, as investors look for ideas on where the best income opportunities will be in years to come.

Shares in the Royal Bank of Scotland dropped as much as 6% after the bank reported its half year results and announced its new CEO.