UK/EUROPE - Mellon Financial Corporation has launched a UK operation for its global custody clients.
The service will be provided in-house by Mellon Global Securities Services and will administer £29bn assets held in the UK.
Mellon Europe chairman Jack Klinck said the decision to provide an in-house service is part of a move to increase the company’s presence in the UK and throughout Europe.
The Department for Work and Pensions (DWP) will develop and test new ways to include 4.8 million self-employed workers in pension savings.
Opt-out rates at the end of June 2018 "remained consistent" with levels before the April contribution rate increase, according the Department for Work and Pensions (DWP).
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb next year.
The Financial Reporting Council (FRC) should be abolished and audit and advisory businesses should be split into separate entities to improve the sector for both savers and investors, two reports published today say.