UK - Deutsche Asset Management has closed its North America and Japanese equities desks in London, making an unspecified number of fund managers redundant.
According to reports, the number of London-based redundancies will be small and are included in the overall asset management layoff figures that Deutsche Bank announced at the end of last year.
Japanese and North American equities mandates will now be run from DeAM offices in their respective countries, the reports claim.
Representatives of DeAM did not return calls by press time.
By Geoffrey Ho
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.