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GERMANY - Institutional investors in Germany are shying away from equities.

SWITZERLAND - Hedge fund of funds manager EIM has appointed seven new partners as part of a corporate reorganisation.

SWITZERLAND - Zurich Financial Services remains on Standard & Poor's credit-watch following the announcement of a rights issue.

GERMANY/US - Northern Trust (Northern) has bought Deutsche Bank's passive asset management business for US$260m, propelling it into the top three index managers in the US.

UK/GERMANY - Staff at insurance underwriter Folgate Partnership are considering legal action against the firm's former owner for leaving them with a large pension deficit.

UK/SWITZERLAND - Newcastle Building Society is moving its pensions business to Swiss firm Zurich Financial Services after 13 years with Norwich Union.

GERMANY - Portfolio and risk management systems provider Sophis has opened a German office in Frankfurt.

SWITZERLAND/UK - Private equity house Gresham is to separate from its parent company Zurich Financial Services, following a management buyout.

SWITZERLAND - Swiss pension funds are still refusing to shave equity allocations despite more sinking returns.

GERMANY - Merrill Lynch Investment Managers' former head of global equity Andreas Utermann is to join Allianz Dresdner Asset Management as global chief investment officer (CIO), equities.