Europe

UK - Stockbroker Brown Shipley is targeting pension schemes as part of its attempts to break into the UK institutional fund management market.

UK - Alexander Forbes Financial Services has launched an online pensions calculator to show final salary and money purchase scheme members their full retirement income prospects.

UK - Trustees could face hefty compensation bills unless they deal with all beneficiaries of a self-invested personal pension properly, a provider warns.

UK - Lane Clark & Peacock have bought Swiss benefits consultant Libera AG for SFr20m.

UK - Barclays Global Investors is changing the benchmarks on two of its iShares European Exchange Traded Funds in order to cut costs.

UK - The Railways Pension Trustee Company (Railpen) has appointed Frank Johnson (pictured) finance director of the £14bn pension fund.

UK - Independent financial adviser Alan Steel Asset Management is adding e-commerce technologies to its back-office systems through software provider Fairs.

UK - Scrapping occupational pensions and giving staff a cash alternative instead is being considered by a growing number of companies, Towers Perrin claims.

UK - Investec Asset Management has been appointed manager of a £140mn UK gilts and sterling corporate bonds mandate for Polestar Group.

UK - Morley Fund Management is to open its Quercus Healthcare Property Partnership Fund to schemes to capitalise on the growing demand for private healthcare facilities.