Invesco Perpetual has begun selling down positions in some of the small and mid-cap companies held by Neil Woodford ahead of the manager's departure in April.

Lloyds Banking Group is to sell its remaining 21% stake in St James's Place.

Chancellor George Osborne is to highlight a forthcoming sale of Lloyds Banking Group shares to retail investors in the Autumn Statement, according to reports.

Rathbone Brothers chief executive Andy Pomfret is to retire on 28 February 2014 after ten years in charge of the wealth manager.

Ed Harley, head of asset management at the Financial Conduct Authority, has left the regulator to take up a role at Goldman Sachs Asset Management.

Seven of the UK's largest asset managers are teaming up to gather information on end investors' needs in a move which could trigger changes to their fund ranges.

Standard Life Wealth is to become part of Standard Life Investments as of 1 January next year, the group has announced.

Randeep Somel has revealed his plan to steer the M&G Global Basics fund back to the top of the performance tables, telling investors "no-one else does this kind of portfolio".

Hargreaves Lansdown chief executive Ian Gorham has sold 715,000 shares in the FTSE 100-listed company for a total of over £8.4m.

M&G Global Basics fund manager Graham French is to leave the group, Investment Week, IFAonline.co.uk's sister title, reports.