Europe

UK - Britannic is to slash 250 jobs in Glasgow, Scotland, following plans to merge its life and pensions business with Alba Life.

UK - Merrill Lynch Investment Managers (MLIM) and the Unilever Superannuation Trustees today announced that they have resolved all issues between them concerning the management of the Unilever Superannuation Fund during a 15 month period in the 1990s....

UK - Custody giant the Bank of New York (BoNY) has been reappointed by the £10.5bn NatWest Pension Fund.

UK - The Occupational Pensions Regulatory Authority (OPRA) has rejected a plea from the National Association of Pension Funds (NAPF) for a general extension to MFR time-limits in light of current market volatility.

UK - The Financial Services Authority (FSA) has written to the chief executives and appointed actuaries of all life insurance companies and friendly societies to update them on how the FSA suggests they test the ability of their investment portfolios...

UK - The £400m Alexander & Alexander Pension Scheme is to undertake its triennial asset liability study in the first quarter 2002. This could lead to a redistribution of assets.

UK - Legal & General is running the best performing corporate bond fund, according to CAPS figures.

UK - The number of companies closing their final salary pension schemes to new members during the year to October 2001 has more than doubled, according to the National Association of Pension Funds (NAPF).

UK - Hermes has appointed Nick Mustoe as CIO with effect from January 1, 2002. He will succeed Tony Watson, who becomes chief executive of Hermes.

UK - AXA Investment Managers (AXA IM) has added four new pooled pension funds to its existing range of institutional offerings.