Regions

EUROPE - Principal Global Investors has made three new appointments in line with its European expansion plans.

GLOBAL - Merrill Lynch has agreed to sell its investment management arm Merrill Lynch Investment Managers (MLIM) to BlackRock for US$1.1bn.

GLOBAL - BNP Paribas Asset Management saw assets under management grow by a record e34.1bn in 2005 to e429.7bn.

GLOBAL - Credit Suisse saw net income from wealth and asset management rise 25% to CHF663m (e45.6m) last year.

MIDDLE EAST - AXA Investment Managers is preparing to open a new office in Doha, Qatar, to capitalise on the region's growing institutional market.

GLOBAL - UBS Global Asset Management has reported total net new money inflows of CHF49.5bn (e31.8bn) in 2005, up 158% on the previous year.

GLOBAL - ABN AMRO Asset Management has appointed Richard Duncan as head of Investment Strategy in a bid to strengthen its investment team.

EUROPE - Without urgent reform, ageing populations will increase European Union public spending by 4% between 2005 and 2050, driven largely by the cost of pensions and health care.

GLOBAL - Mick Sweeney has been appointed CEO of Bank of Ireland Asset Management and deputy CEO of the Asset Management Services Division (AMS).

GLOBAL - Aon Corporation made cash contributions of $463m to its principal pension plans during 2005, including a $200m contribution to the US pension plan in the fourth quarter.