UK

Threadneedle parent company Ameriprise Financial is preparing an £800m bid for Scottish Widows Investment Partnership, according to reports.

Neptune founder Robin Geffen and former Gartmore star Roger Guy are among the highest profile new fund management names in the latest UK wealth rankings.

Brooks Macdonald has reported a 7.6% in discretionary funds under management as rising markets and inflows pushed assets towards the £5bn mark.

This week commodities dominated the headlines after a hefty sell-off in the gold market; while Schroders moved to replace outgoing manager Richard Buxton with a double hire.

Lloyds Banking Group has moved closer to a sale of Scottish Widows Investment Partnership as it seeks to strengthen its balance sheet, according to reports.

The board of the Schroder UK Growth fund has said Philip Matthews, hired by Schroders to replace Richard Buxton, is not certain to take over as manager of the £300m trust later this year.

Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), has branded the previous watchdog - the Financial Services Authority (FSA) - "too robotic" in its approach to regulation.

Investors and backers of Richard Buxton's UK Alpha Plus fund have reacted positively after the group revealed it has poached well known managers from Jupiter and Neptune to replace the outgoing star.

Schroders has poached Jupiter's Philip Matthews and Neptune's Alex Breese to replace Richard Buxton and Errol Francis when they move to Old Mutual Global Investors.

UK consumer prices index (CPI) inflation remained unchanged at 2.8% in the year to March, after a slight rise during February.