Regions

GLOBAL - After a particularly productive fourth quarter, the consumer discretionary, industrials, materials, and information technology sectors halted their advances, according to State Street global Advisors' latest market commentary.

EUROPE - Mellon is reorganising its European fund services operations, merging is existing operations into one unit and rebranding it as Mellon European Fund Services.

EUROPE - Institutional investors are being put off taking more active corporate governance roles in Sweden and Italy due to the sheer cost of taking action in those countries.

GLOBAL - The collapse of Enron has exposed massive overvaluation of US stocks, dashing hopes for a global recovery, according to claims by the Centre for Economics and Business Research (CEBR).

GLOBAL - Lazard has named Credit Suisse First Boston's (CSFB) Charles Ward as its new president.

GLOBAL - The Phillips & Drew (P&D) name is to be dropped as part of a brand reshuffle by parent company UBS but P&D has pledged its investment style will remain unchanged.

GLOBAL - Gartmore is set to launch a new hedge fund as part of its AlphaGen range, which looks to capitalise on global tech stocks.

GLOBAL - Trema, a provider of strategic technology solutions and management consulting services, yesterday announced that Finance KIT, its straight-through processing treasury, risk and asset management solution, now offers extended functionality.

EUROPE - Watson Wyatt has relaunched its global website with a new facility, ‘My Watson Wyatt', that allows visitors to pick the news and information that matter most to them.

EUROPE - JPMorgan has acquired Investia's majority holding in FundsHub, Europe's first outsourced fund supermarket solutions provider, for an undisclosed sum. FundsHub's management and employees will also take an increased stake in the business.