UK

City Financial has acquired OPM Fund Management for an undisclosed amount, taking over its £75.2m fund range in the process.

Senior staff at J O Hambro Investment Management are to buy out the business from owner Credit Suisse with the help of banking group Bermuda National.

The chief executive of the incoming Financial Conduct Authority (FCA) has said the body will be "much broader" in its approach to identifying mis-selling and other problems - including monitoring Twitter.

A near-25% rise in UK protection sales helped drive an increase in profits for the Royal London group in 2012.

Ecclesiastical's Robin Hepworth is backing the rally in Vodafone shares to continue even if the M&A rumours surrounding the stock begin to recede.

Schroders will build a multi-manager arm to rival John Chatfeild-Roberts' Jupiter Merlin range once Cazenove's Marcus Brookes and Robin McDonald join the firm, global head of equities Peter Harrison has said.

Legal & General has acquired the remaining 75% of Cofunds it does not currently own, in a deal worth £131m.

The UK's five major banks could see their profits take a significant hit in 2012 as regulatory pressures and a series of recent scandals take their toll, according to KPMG.

Schroders is considering having two flagship UK equity funds running alongside each other once its £424m acquisition of Cazenove Capital is complete.

Schroders has agreed a £424m cash offer for Cazenove Capital in a deal that significantly strengthens its private banking, wealth management and funds businesses.