Investment

The Pensions Regulator chairman David Norgrove will step down from his role when his second term in post ends on 31 December.

European pension funds are shunning cash in favour of riskier alternative investments, a survey shows.

GLOBAL - Strategic and tactical asset allocation decisions are converging into "a more holistic process" as investors refine their risk management post-crisis, State Street says.

British Airways deal with its scheme trustee over how to plug its £3.7bn deficit has been approved by The Pensions Regulator.

UK - British Airways' deal with its scheme trustee over how to plug its £3.7bn deficit has been approved by The Pensions Regulator.

Concerns over the demand for index-linked gilts following the decision to use CPI for pension increases have been exaggerated, F&C says.

Volatility in global equities and falling corporate bond yields in the last two weeks of June cancelled out much of the growth achieved by schemes over the past six months, Mercer says.

Asia/UK - Baring Asset Management has appointed Wayne Shum to the newly created role of head of institutional business for Asia.

Aviva Investors chief executive Alain Dromer has been named the next Association of British Insurers investment committee chairman.

US - Citigroup has agreed to pay $75m to settle charges brought by the Securities and Exchange Commission claiming the firm misrepresented its exposure to sub-prime assets to investors.