Old Mutual Wealth has finalised a deal to acquire Quilter Cheviot for £585m.
Core government bond yields have tumbled this afternoon, as investors rush back to safe havens and stocks slump amid widespread selling.
Troy Trojan fund manager Sebastian Lyon has said equity market dynamics in 2014 are comparable to those seen ahead of the financial crisis in 2007.
Two directors of HSBC's UK arm are poised to quit in protest at new Bank of England rules that pave the way for lengthy jail sentences to be imposed on senior managers of failed lenders, according to reports.
Chelverton Asset Management has revealed some of the stocks the group expects will power its new UK Equity Growth fund when it launches later this month.