United Kingdom

UK - The Tenneco Automotive pension fund has appointed Phillips & Drew to run a £25m passive mandate, previously held by Edinburgh Fund Managers.

UK - Multi managers SEI Investments has appointed Robert Aller as managing director for European financial institutions, based in London.

UK - The £122m Rohm and Haas retirement plan has dropped Schroder Investment Management and Axa Sun Life as managers of its UK and overseas equities portfolio.

UK - Elaine Stevenson has been appointed as actuary and consultant with William M. Mercer.

UK - The £723m Cumbria County Council Superannuation Fund has completed its asset reshuffle following the dissolution of two balanced equity mandates, held by Phillips & Drew (£307.5m) and Schroder Investment Management (£371m)*.

SCOTLAND - PSFM, the financial management arm of consulting actuaries Punter Southall & Co, has appointed Walter McCann and Margaret Vass to drive the firm's expansion in Aberdeen.

UK - First State Investments has appointed Sara Dennehy as media relations manager.

UK - Pension funds are backing the government's decision to launch an independent inquiry into the ongoing problems at Equitable Life.

UK - A pension fund has won the first round in a court battle with the Inland Revenue over a claim on share buy-back tax credits.

UK - Standard Life Investments (SLI) has strengthened its investment team with the appointment of Paul Pasquill.