News

UK - BlackRock veteran Deborah Fuhr is joining Bank of America Merrill Lynch in London as head of its Global Delta One Strategy, according to a source close to the bank.

EUROPE - France, Italy, Spain and Belgium have temporarily banned short-selling of financial stocks in response to sharp share price falls across Europe.

CANADA - The Canada Pension Plan (CPP) ended the first quarter of fiscal 2012 with net assets of C$153.2bn (US$154bn), an increase of C$5bn from the previous quarter.

GLOBAL - Markets have slipped back into the red after the Dow Jones posted heavy losses on the opening bell, as fears of a double-dip recession intensify.

US - The Securities and Exchange Commission (SEC) has charged a brokerage firm and its former executive with defrauding the pension funds of five Wisconsin school districts.

Professional Pensions has a limited number of complimentary seats available for pension scheme staff or trustees to attend this year's Pension Scheme of the Year Awards on 15 September.

F&C Investments has promoted senior fund manager Jonathan Mann to head of emerging market debt.

About one quarter of adults approaching retirement in the UK is without an occupational pension, leaving them to face the prospect of working indefinitely, Baring Asset Management says.

AUSTRALIA - Aviva Investors has sold its Australia business to National Australia Bank's asset management business as part of a restructure within its Asia Pacific operation.

Earnings at Aegon UK declined in the second quarter as the insurer continues to pay millions in customer redress following administrative problems at Scottish Equitable.