UK

Kames Capital is set to appoint Peter Shaw as co-manager of the £361m UK Equity fund on 1 January.

ON UK GROWTH

As the eurozone crisis reaches a crescendo, the Bank of England has revealed just how much exposure UK banks have to the region's most troubled economies.

The FSA has fined HSBC £10.5m for inappropriate investment advice provided by one of its subsidiaries, NHFA Limited (NHFA), to elderly customers.

Ex-Witan investment trust CEO Robert Clarke has joined MAM Funds in the newly created role of group finance director and director of operations.

The Financial Services Authority's report into the collapse of Royal Bank of Scotland will not examine in any detail the role played by Sir Fred Goodwin and Sir Tom McKillop, its two most senior directors.

The Bank of England has warned lenders it is considering changes to the way bonuses are measured to make it far harder for investment bankers to justify their multi-million pound awards.

Clive Beagles, manager of the £880m JOHCM UK Equity Income fund, has warned classically defensive stocks could be dangerous prospects for the next 12 to 18 months as fiscal austerity takes its toll on the UK economy.

Outspoken investor Jim Rogers this week gave his forecast for the gold price, while Goldman Sachs analysts outlined their six key trades for 2012.

Managers believe sensible business plans will support housebuilders and offer greater scope to grow profits than government's stimulus package.