United Kingdom

UK - Financial services companies are taking inadequate precautions against operational risk, IBM Financial Services claims.

UK - Investment manager Hermes has completed its round of senior hires with the appointment of Charlie Metcalfe as head of business development and deputy chief executive.

UK - Tilney Investment Management has sold its back-office clearing and settlement operations to the Bank of New York for an undisclosed amount.

UK - Trustees can help prevent future pension liberation frauds by making employees sign disclaimer forms, a professional trustee claims.

UK - The Pensions Management Institute and the Pension Research Accountants Group have launched the sixth edition of Pensions Terminology.

UK - OPRA is investigating 340 reports of third-party administrators and pension schemes without trustees.

UK - The total value of UK mergers and acquisitions fell by 52% in the last year to £46.5bn, research by KPMG Corporate Finance shows.

UK - The Royal Bank of Scotland is to provide liquidity for State Street's real time online money markets trading network, Money Market Connect.

UK - The property market will remain strong despite fears of rising unemployment and escalating interest rates, Baring, Houston & Saunders predicts.

UK - A guide book aimed at demystifying pensions for employees is being published by the Trade Unions Congress at the start of July.