Global

Head of Winterthur Life UK John Finan is to quit the firm as chief executive officer, stepping down on August 21.

Asset manager Chicago Trust has selected mPower to provide online investment advice for the firm's defined contribution (DC) pension fund clients.

Schroder Salomon Smith Barney's (SSSB) Elliot Hornblass has quit the firm to join US asset manager, the Swarthmore Group.

Equitable Life will reduce final bonuses on with-profits from pension policies as part of an exercise to put the company on a more stable footing.

State Street Global Advisors (SSgA) has agreed to acquire the passive equity business of Gartmore Investment Management, a subsidiary of Nationwide Mutual Insurance Company.

Benchmark Group and Schroder Property Investment Management are establishing a new specialist property unit trust, The West End of London Property Unit Trust (WELPUT), pending regulatory approval.

International fund manager Barclays Global Investors (BGI) has launched four new sector-based exchange traded funds (ETFs), offering sector exposure across 13 European countries.

Zurich's civic pension fund - the CHF12bn Versicherungskasse der Stadt Zurich - has reappointed UK fund managers Phillips & Drew to a passive mandate and added an extra £120m.

Companies are considering terminating their defined benefit (DB) pension plans due to the low 30-year US Treasury bond interest rates, according to the American Academy of Actuaries.

Gartmore Investment Management has appointed Jim Campbell as senior portfolio manager of its UK equities team.