UK - Threadneedle has appointed Mark Burgess as chief investment officer ahead of Sarah Arkle's retirement.
Burgess joins Threadneedle from Legal & General Investment Management (LGIM) in the first quarter of 2011 and will work closely with current CIO Arkle as she hands over her role and responsibilities to him. Arkle will retire next year after 30 years in the industry and will become Threadneedle's vice chairman.
At LGIM Burgess was managing director, head of equities.
Threadneedle chief executive Crispin Henderson said: "I am delighted that Mark Burgess has decided to join Threadneedle at what is an exciting time for the company."
Threadneedle chairman Simon Davies added: "Sarah Arkle has done a splendid job in her 10 years as CIO. She has steered our investment team from the early days to build the multi-award winning team of over 140 people that we have today and she has presided over 10 years of stellar investment performance.
"I am also happy to say that we will continue to benefit from Sarah's experience and wisdom, as she has agreed to take on the role of vice chairman, working with us on high level client relationships and business development, and playing an ambassadorial role for the company."
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.