UK

Mark Zinkula, the chief executive of Legal & General Investment Management (LGIM), has become group executive director of Legal & General (L&G).

RWC has signed a deal with European fund house Hermes which will see its $800m Focus fund range and the three teams running the products transfer to the boutique in October.

Standard Life Investments (SLI) has promoted Mikhail Zverev to the role of head of global equities.

Markets were subdued in afternoon trading as fears over China, coupled with instability in the Middle East, weighed on investor sentiment.

Insight Investment Management is set to acquire currency specialist Pareto Investment Management early next year.

The next governor of the Bank of England will be found in the coming months after the post is advertised for the first time on Friday.

ON UK GROWTH

Income manager Carl Stick discusses his outlook for UK stock market valuations and how he is using his cash as a strategic asset.

The managers of the £83m Aviva Investors UK Smaller Companies fund, Toby Belsom and Robin West, name five UK smaller companies set to benefit from an uptick in consumer spending.

Managers are increasingly concerned about the future resilience of UK dividends as payouts hit record levels and a slowing economy prompts the need for companies to reallocate capital.