Regions

US/UK - Russell Investments has appointed Len Brennan as president and chief executive, and as a director on the company's board.

IRELAND - Ratings agency Moody's has cut the Republic of Ireland's debt rating to junk status.

GLOBAL - Almost a third of institutional investors plan to increase their allocation to hedge funds over the next 12 months, with more than half of them doing so directly, research by Preqin reveals.

BlackRock hires NEST's Gilbody; Aviva Investors; Liongate; Municipal Fire and Police Retirement System of Iowa; Ignis; HSBC Asset Management; Towers Watson; Acadian; Cardano; LGIM; Mercer

GLOBAL - The use of alternative asset by pension funds grew by 16% to $952bn in 2010, according to research by Towers Watson.

EUROPE - The European Insurance and Occupational Pension Authority (EIOPA) will seek industry comments on Europe's IOPRPs directive as it prepares its advice to the European Commission.

US/ASIA - HSBC Global Asset Management has named Deborah Hazell regional head of North America and Bill Maldonado Asia-Pacific chief investment officer in a move to bolster its emerging markets business.

GLOBAL - Towers Watson has appointed Paul Morris as regional leader for Europe, Middle East and Africa (EMEA). He replaces Babloo Ramamurthy, who is retiring after 34 years at the company.

EUROPE - M&G Investments has closed its Real Estate Debt fund with €343m ($491m) of institutional investor commitments.

GERMANY - Germany, once widely regarded as the European nation most inimical to hedge funds, is now warming to the sector with allocators across the spectrum considering or actually making investments.