Europe

UK - Gartmore Investment Management is reviewing its defined contribution operations which could, sources say, lead to it pulling out of the business.

UK - SG Asset Management has signed up to the London Principles, a code of conduct to encourage financial services firms to promote sustainable development.

UK - Towers Perrin is "virtually closing" its UK investment consultancy arm after deciding to retain only one senior analyst in the division.

UK - Leading consultants are joining forces to confront the TUC over compulsory employer pension contributions.

UK - Fund managers have warned schemes to brace themselves for further losses in their equity portfolios one year on from the September 11 attacks.

UK - Privately-held finance group Rothschild is pulling out of institutional and retail fund management to focus on private banking and wealth management.

UK - The £83bn Local Government Pension Scheme is to consider moving towards a hybrid or career average scheme for new members.

EUROPE - Continental European financial institutions are facing a tough time, with two issuing profits warnings in the last month.

UK - Drinks giant Diageo has dismissed fears about the health of its pension schemes despite plunging into deficit under FRS17.

US/UK - Gartmore Group has strengthened its hedge fund of funds business with senior hires, following the earlier acquisition of US specialist firm Riverview.