United Kingdom

UK - Aberdeen Asset Management has sold its Guernsey ‘PCC' range of emerging market debt funds to Convivo Capital Management as part of a cost cutting drive.

UK - The Associated British Foods Pension Scheme has sold a four-unit freehold retail investment to clients of Credit Suisse Asset Management for £4.5bn.

UK - Lindsay Tomlinson, chief executive officer of Barclays Global Investors, Europe, has been elected as chairman of the Investment Management Association.    

UK - Workplace demand for good, occupational pensions will be the salvation of the industry, incoming NAPF chairman Terry Faulkner believes.

UK - Unions are threatening industrial action at insurance giant Axa (UK) unless it backs down over changes to its final salary scheme.

UK - Smith & Williamson has appointed John Gaulton head of its Bristol office.

UK - Sirius Financial Systems has appointed Noel Burger a sales consultant within its UK systems division.

UK - IFAs have been warned to be on their guard as the number of unauthorised investment firms has trebled over the past year.

UK - Beleaguered telecoms firm Marconi is freezing contributions into its £2.35bn DB plan.

UK/SWITZERLAND - Financial solutions provider Brainpower has appointed Hammad Nasar as chief marketing officer and director.