News

Legal & General (L&G) is to make its unit trust business part of Legal & General Investment Management (LGIM) as the group undergoes a restructure.

Stephen Hester, the outgoing chief executive of Royal Bank of Scotland (RBS), has warned the bank will not become privatised overnight, and a potential sale could be a decade away.

The Co-operative Bank has reached agreement with the Prudential Regulation Authority (PRA) to plug a £1.5bn capital hole in its balance sheet.

Invesco Perpetual's Neil Woodford has been awarded a CBE in the Queen's Birthday Honours List.

Justin Onuekwusi, former lead manager on Aviva Investors' multi-asset funds, is to join Legal & General.

Is cash now the go-to asset? Leading investors are rediscovering its attractions as market valuations reach breaking point and inflation levels drop to historic lows.

Paul Tucker, deputy governor for financial stability at the Bank of England, is to leave later this year after more than 30 years of service.

Royal Bank of Scotland (RBS) has pulled out of the retail structured product market due to high capital costs.

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Cazenove Capital's European manager Chris Rice has left the firm, ahead of Schroders' takeover of the group next month.