United Kingdom

UK - Shipbroker Clarksons looks set to shut its £78m defined benefit scheme to new members after seeing its surplus evaporate within just six months.

UK - The Society of Investment Professionals and the Institute and Faculty of Actuaries are holding a discussion evening on October 22.

UK - The average contribution to an employer-sponsored stakeholder pension is just £44 a month, trade union research shows.

UK - HSBC has appointed Bill Blain as head of origination for financial institutions.

UK - Morley Fund Management's half-year profits slumped to £6m, a fall of £8m from last year.

UK - Bob Mendelsohn, chief executive of Royal & Sun Alliance, has quit the troubled insurer with a £1m-plus pay-off.

UK - Private equity specialist Candover Investments posted pretax interim profits of £8.4m - an increase of 31% over last year.

UK - TUC general secretary John Monks has repeated threats of further strikes action if employers continue to junk final salary pension schemes.

UK - Winterthur Life sold £561m of single premium group personal pensions through IFAs in the first half of the year.

SWITZERLAND/UK - Private equity house Gresham is to separate from its parent company Zurich Financial Services, following a management buyout.