Europe

UK - Schroder Investment Management is facing a shareholder challenge to the remuneration package awarded to its new chief executive, Michael Dobson.

UK - The £225m AEA Technology pension fund has awarded two new mandates.

UK - Friends Ivory & Sime has reorganised its equities team and appointed Debbie Clarke as head of global large-cap equities and Bill Brown as head of pan-European small-cap equities.

UK - The Occupational Pensions Regulatory Authority (OPRA) has denied that staff shortages have forced them to cut back on the investigation of late payment breaches.

UK - Institutional investors - holding many billions in pension fund investments - are planning to sell off large amounts of equity because of fears of further world market slumps.

UK - Gartmore chairman Paul Myners has slammed pension schemes with "excessively" diversified funds for not being active enough as shareholders.

UK - The Chancellor of the Exchequer, Gordon Brown, yesterday confirmed in his pre-Budget speech that the Pensions Credit will be introduced from 2003, at a cost of £2bn in the first full year, and said it "will provide a fair deal for pensioners, tackling...

UK - The implications of the one-year delay to the revised Basel Capital Accord for the implementation of integrated prudential supervision for UK financial firms were set out for consultation by the Financial Services Authority yesterday.

UK - Edinburgh Fund Managers (EFM) has cut 22 jobs from its investment and administration teams.

EUROPE - KAS Bank is the first general clearing member of Euronext that is able to provide clients of the three underlying Euronext exchanges with its services from one portal instead of from three different connections, according to the bank.