News

M&G fixed income manager Mike Riddell is to leave the firm he joined in 2003 in order to pursue another opportunity.

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Former Old Mutual bond manager Stewart Cowley has launched a new venture providing investment advice and portfolio management to advisers and fund groups.

Investment trusts allocating to UK equities benefitted from an election-fuelled bounce which helped them top the performance tables in Q2, according to data from broker Winterflood.

Shares in RBS fell by over 2% this morning as it emerged the bank could be hit by a $13bn bill relating to the way it dealt in mortgage bonds before the credit crisis, a US court has warned.

Matt Hudson, manager of the £694m Schroder UK Alpha Income fund, has increased his weighting to banks, despite industry concerns about the threat to dividends from the record level of regulatory fines imposed recently.

J.O. Hambro Capital Management's Clive Beagles has opened new positions in wealth managers and increased exposure to certain banks in his £2.9bn UK Equity Income fund.

Giles Parkinson, analyst on Artemis' £977m Artemis Strategic Assets fund, is to leave the group after resigning his position.

BP shares have jumped after the oil giant agreed to pay $18.7bn worth of federal and state claims, to be spread over 18 years, for the Deepwater Horizon oil spill in 2010.

Financial Conduct Authority (FCA) chief executive Martin Wheatley saw his total pay deal from the industry-funded regulator rise by 15% last year to £701,000.