Standard Life Aberdeen has won a tribunal in which it claimed Lloyds Banking Group was not entitled to give notice to terminate investment management arrangements for a £109bn mandate.
Schroders is set to land the £109bn Scottish Widows mandate as it offers a stake in its wealth arm Cazenove Capital as part of the negotiations, according to reports.
Sterling has fallen on the back of inflation figures released this morning, which show the UK Consumer Price Index (CPI) remained steady at 2.4% in June.
UK inflation stuck at 2.4% in May, missing analysts' estimates of a move higher and further cooling expectations on an interest rate hike from the Bank of England this summer.
Lloyds Banking Group has sold its remaining stake in Standard Life Aberdeen following a decision to withdraw £109bn of assets managed by the firm for Scottish Widows.
SLA claims it is not a 'material competitor'
The UK inflation rate remained flat at 3% in January, according to the Office for National Statistics (ONS), beating analysts' expectations of a drop to 2.9%.
Hendrik du Toit, founding CEO of Investec Asset Management, is to become co-CEO of the wider Investec Group from 1 October 2018, as John Green and Mimi Ferrini step up to become joint-CEOs of the asset management business.
Asset managers including JPMorgan Asset Management (JPMAM), BlackRock and Standard Life have backed an initiative set up by the 30% Club to push for a third of FTSE companies to have women on their boards.
Investec and Incisive support Pedal the Pond initiative to raise young people's mental health awareness
Four young men crossing the Atlantic in a pedalo
Inflation rose to 3.1% in November, according to the Office for National Statistics (ONS), beating previous estimates that it would hold steady at 3%.
Chair of FCA cost disclosure working group
Prudential has announced it will combine its UK savings and investments businesses to create a single entity named M&G Prudential.
Sterling rose 0.5% in morning trading, after it was revealed UK inflation climbed to 1% in September, a 22-month high, surpassing economists' expectations and forecasts from the Bank of England's August Inflation Report.
A round-up of the key points after yesterday's rate cut by the Bank of England, and the introduction of what one economist dubbed its "bazooka surprise".
Two challenges in consecutive weeks
Acted as CEO since Martin Wheatley's departure
Mix of in-house active and passive
Third consecutive month of increases
Most members agree hike is imminent
Markets and sterling fall
Pushes out rate hikes
Concern firms could suffer 'reputational damage'
The UK's inflation rate fell back to zero last month, down from 0.1% in May, as the prices of clothing, fuel and food all fell.
Sterling has fallen after the Bank of England downgraded its growth forecasts for the UK economy while indicating it could start to raise interest rates in mid-2016.
Kames Capital head of investment strategy Bill Dinning has quit his role to become an investment strategist for Coal Pension Trustee Services.
Mark Carney has seen off fierce competition to land the job of Bank of England governor, replacing outgoing chief Sir Mervyn King next summer.
HSBC has revealed it faces a hefty fine estimated at $1bn by analysts from US regulators for failing to have the right anti money laundering controls in place from 2004 until 2010.
The Federal Reserve announced plans to extend Operation Twist by $267bn (£170bn) as it cut its 2012 growth forecast for the US economy from 2.9% to 2.4%.
CHINA - The head of the IMF pleaded with China to support the eurozone as she warned the global economy is heading for a "lost decade".
Invesco's John Greenwood has warned further QE in the UK is unlikely to lead to a rebound in economic growth as he said there was "no quick fix" to the country's economic woes.
GLOBAL - Emerging economies would face a systemic crisis if foreign investors, who own one-third of EM local currency debt markets, begin to pull out their cash, fund managers have warned.
UK - Aegon's asset management capabilities in the UK has officially been re-branded as Kames Capital today.
Aegon's asset management capabilities in the UK has officially been re-branded as Kames Capital today.
US - Charles Evans, a leading Federal Reserve policymaker, has called on Ben Bernanke to issue further monetary stimulus as inflation higher than the 2% target would not be a "catastrophe".
UK/AUSTRALIA - Innes McKeand has left his post as head of equities at Aegon Asset Management to move to Australia.
Innes McKeand has left his post as head of equities at Aegon Asset Management to move to Australia.
GLOBAL - Asian shares rose for a third day but closed lower than expected as European leaders failed to reveal specific plans to tackle the debt crisis after a meeting yesterday.
US - Congress moved one step closer to sealing a deal on its debt ceiling, pushing down yields on 30-year government bonds.
Aegon has confirmed it will rebrand its UK asset management arm as Kames Capital later in the year.
UK/NETHERLANDS - Aegon is to rebrand its UK asset management arm as Kames Capital.
PORTUGAL - Moody's has downgraded Portuguese debt to 'junk' status on fears it will need a second bail out just months after it received €78bn ($112bn).
EUROPE - Tension between the European Central Bank and the German government has intensified as Jean-Claude Trichet hit back at the German finance minister's claims Greek government bondholders should contribute to a new aid programme.
UK - Henderson shareholders have voted overwhelmingly in favour of the acquisition of Gartmore, with 99.97% giving the go-ahead.
Henderson shareholders have voted overwhelmingly in favour of the acquisition of Gartmore, with 99.97% giving the go-ahead.
UK - Henderson and Gartmore have finally reached an agreement which should see full acquisition take place in a £335m ($524m) deal over the next few months, subject to shareholder approval.