RLAM's UK equity income manager talks to Alice Rigby about a decade at the helm of his fund, capacity issues, and why he is still backing wealth management stocks.
The Financial Conduct Authority (FCA) is to launch its first review of competition within investment banking, with a view to conduct a similar market study into asset management later in the year.
A report by think-tank New Financial has suggested fund manager pay may overtake that of investment bankers by 2016, following a sharp rise since the financial crisis.
The amount of profit in UK banks that can be offset by losses carried forward will be limited to 50%, and relief on bad debts will be delayed, the Chancellor has announced.
Bob Diamond, the former boss of Barclays who left in disgrace last year after the bank admitted its role in rigging Libor rates, is reportedly close to making a comeback with a new bank venture.
The European Commission has collectively fined six international financial institutions €1.7bn (£1.4bn) for their involvement in the manipulation of benchmark rates.
Fund management staff earning more than €1m at UK banks saw pay almost double in 2012, according to European Banking Authority (EBA) data.