News

Standard Life has rejected suggestions the use of preferentially-priced share classes launched by fund groups for specific platforms could breach competition laws.

Investment intermediaries must stump up an extra £2m towards the Financial Services Compensation Scheme (FSCS) levy for 2013/14, taking their annual levy contribution to £78m.

Lloyds Banking Group has moved closer to a sale of Scottish Widows Investment Partnership as it seeks to strengthen its balance sheet, according to reports.

US fund house Polen Capital Management is making a move into the UK market with the launch of the Polen Focus US Growth fund.

Hermes' marketing director Rob Page is leaving the firm to join Henderson Global Investors, Investment Week can reveal.

Barclays' investment banking chief Rich Ricci and wealth management head Tom Kalaris are to retire as the company restructures its senior management team.

Aviva is to reduce its staff numbers by 2,000 over the next six months - a 6% reduction of its global workforce.

Schroders has added a retail sterling share class to its offshore Global Multi-Asset Income fund, opening it up to retail investors for the first time.

BlackRock's Nick McLeod-Clark has stepped down from running the firm's £698m UK Income fund to take an extended period of leave to recover from poor health.

A growing trend towards excessive risk-taking and lack of action to repair broken bank balance sheets could trigger a "chronic" new phase in the financial crisis, the International Monetary fund has warned.