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SWITZERLAND / GERMANY - Zurich Financial Services (ZFS) has announced that it is in an 'advanced stage' of negotiations with Deutsche Bank, over the sale of asset manager Zurich Scudder Investments (ZSI) to the German firm.

SWITZERLAND - Allianz Group has hired three hedge fund managers from Citigroup in San Francisco to head up its new hedge fund company, Allianz Hedge Fund Partners.

SWITZERLAND - The board of directors at Zurich Financial Services has appointed Hans-Jurg Bernet as CEO of Zurich Switzerland, effective yesterday.

GERMANY/LUXEMBOURG - SEB Invest Luxembourg, a regional arm of Swedish asset managers SEB Invest, is to launch a new fund in October.

GERMANY - Commerzbank has reorganised its fund management unit, setting up a new asset management committee to oversee its worldwide investment businesses.

SWITZERLAND - The CHF5bn Bernische Lehrerspensionskasse (Berne public pension fund for teachers) could outsource up to 50% of its assets early next year.

SWITZERLAND - Zurich Financial Services (ZFS) has been rocked by news that its fund management division made a US$14m loss during the first half of the year.

SWITZERLAND/US - The Association for Investment Management and Research (AIMR) has named Swiss banker Philippe Sarasin as its new chairman of the board of governors.

SWITZERLAND - Specialist asset manager, EIM has appointed Enrico Gaspare as chief operating officer. Based in Nyon, Switzerland, Gaspare will also be a director of EIM S.A., Switzerland.

SWITZERLAND - The CHF20bn (EUR13.2bn) Swiss social security fund (AHV) could tender for a CHF500m global bond mandate by March 2002.