News

Mark Barnett has told Investment Week he is "concerned" over the fortunes of GlaxoSmithKline, a core holding in the Invesco Perpetual Income funds which he began running at the start of March 2014.

Jamie Frere-Scott has joined Ashcourt Rowan as funds director after less than a year as head of research at life insurer Mobius Life.

Legal & General has said it must "operationally leverage" its Cofunds platform and boost flows into its asset management arm this year in order to improve its business mix.

Royal Bank of Scotland is to cut as many as 14,000 investment banking jobs over the next five years as it scales back its US and Asian arms, according to reports.

GAM is to drop its Swiss & Global name in order to give more prominence to the Julius Baer and its own fund ranges.

Morrisons' former group treasurer has been sentenced to twelve months in prison after being convicted of two counts of insider trading.

Adviser consolidator Succession Group has bought tax planning and investment firm Cassidy Coutts, adding £50m to its funds under management.

The potential sales of Transact and Seven Investment Management (7IM), as well as increased scrutiny from the regulator, have prompted advisers to start probing platforms on their exit strategies.

The Woodford effect

Wealth managers are urging fund providers to open preferentially-priced share classes to their businesses, as opposed to just the largest, typically platform-based distributors.