State Street

State Street UK has been fined £22.9m by the Financial Conduct Authority (FCA) for overcharging clients on a range of financial transactions.

Aberdeen Asset Management has confirmed rumours it is in talks to buy Scottish Widows Investment Partnership (SWIP) in a deal which would make it the largest listed fund management firm in Europe.

Invesco Perpetual has rolled out its first multi-asset fund strategy for former Standard Life Investments' (SLI) managers David Millar, Dave Jubb and Richard Batty.

THE BIQ QUESTION

CONTRARIAN

Bidders for Credit Suisse's ETF arm will be getting it "on the cheap" as the sale is another example of a bank being forced to sell assets to strengthen its capital positions, according to Citi.

Credit Suisse is selling its $17.2bn European ETF business, with BlackRock and State Street among the firms that have bid for the business, according to reports.

SPDR ETFs, the exchange traded funds (ETF) platform of State Street Global Advisors (SSgA), has listed a range of physically-backed equity and fixed income ETFs on the London Stock Exchange.

State Street Global Advisors is launching its inaugural UK range of ETFs within the next quarter, as part of plans to launch more than 50 index-tracking funds in the next two years.

The National Employment Savings Trust has appointed State Street Global Advisors, UBS Global Asset Management, and BlackRock to run five mandates for its default fund.