Europe

UK - HSBC Asset Management has recruited Julian Lyne as director for institutional investment.

UK - The major who cheated TV's Who Wants to be A Millionaire is to keep his army pension entitlements despite being forced to resign.

EUROPE - Equity derivatives and credit swaps are increasingly capturing interest from pension funds, but the market could be distorted if all pension funds were to engage such instruments, according to Schroders.

UK - Thomson's Group chief executive Douglas Gardner has been appointed a member of the FSA's financial services practitioner panel.

UK - Final salary scheme trustees can slash costs by using impaired or enhanced annuities, GE Life claims.

UK - Balanced pooled funds soared in value over the last quarter as the equity market showed signs of recovery, the latest IMAGE survey by HSBC Actuaries reveals.

UK - A Diabolical quarter for the manufacturing sector will put further pressure on employers to cut pensions costs, the Engineering Employers' Federation fears.

UK - Unions have welcomed draft regulations aimed at clarifying pension rights for part-time workers.

UK - A shift by mid-market firms from defined contribution schemes to low-cost stakeholder plans could trigger a new wave of closures, consultants fear.

UK - City regulators are to introduce controversial new rules to stop IFAs from using insurance cover to pay fines.