Europe

UK - The £61m Orange Pension Scheme has denied reports that it sacked its investment and administration manager Equitable Life over fears of pension mis-selling.

UK - Fears over the strength of the US recovery led to a 4% fall in the FTSE Eurotop 300 in May.

UK - Axa Investment Managers has celebrated the first anniversary of its EasyETF equity index trackers by lowering its management fees for all of these products.

EUROPE - Henderson Global Investors has appointed Patrick Bushnell as director of property, Europe.

UK - Financial services companies are taking inadequate precautions against operational risk, IBM Financial Services claims.

UK - Investment manager Hermes has completed its round of senior hires with the appointment of Charlie Metcalfe as head of business development and deputy chief executive.

UK - Tilney Investment Management has sold its back-office clearing and settlement operations to the Bank of New York for an undisclosed amount.

UK - Trustees can help prevent future pension liberation frauds by making employees sign disclaimer forms, a professional trustee claims.

UK - The Pensions Management Institute and the Pension Research Accountants Group have launched the sixth edition of Pensions Terminology.

UK - OPRA is investigating 340 reports of third-party administrators and pension schemes without trustees.