Neptune founder and managing director Robin Geffen says the group will be avoiding Lloyds and RBS, labeling yesterday's rights issue announcements a "rescue operation".

Schroders' Richard Buxton is set to increase his stake in Lloyds after news of its exit from the Government Asset Protection Scheme and subsequent rights issue plans.

Former Maia Capital partner Chris Ralph has joined St. James's Place in the newly created position of CIO.

European markets have opened flat this morning, with defensive sectors lagging in early trading.

Fidelity FundsNetwork has launched a new fee service to help advisers meet RDR proposals, allowing IFAs to agree an ongoing charge over an entire client portfolio, rather than commission on individual products.

M&G posted a £2.51bn total net inflow during the third quarter of the year, with net retail sales of £1.7bn.

GAM has appointed former T. Rowe Price and BlackRock manager Niall Gallagher as the replacement for John Bennett on two long-only European equity funds.

Swip's Rory Hammerson, manager of its Pan-European Equity, Smaller Companies and SRI funds, has departed the group after more than 12 years.

Standard Life has received broad agreements with all its top 12 fund partners over new business terms as the platform industry accelerates its re-negotiations with asset managers.

A third of UK investors have no exposure to emerging markets despite the majority expecting the region to be the top performer over both the medium and long-term.