Ashburton has expanded its European equities team with the appointment of investment manager Veronika Pechlaner.

Measures to revive the dormant housing market by increasing the supply of mortgage lending are being planned by ministers, The Times has learnt.

Prudential has named former Man Group chief executive Harvey McGrath as its new chairman.

A combination of continued corporate activity, structural change and attractive valuations make the European small cap sector an attractive long-term proposition, according to Barings' Nick Williams.

Zurich has made a number of changes to its protection proposition, including a reprice of its term assurance and critical illness cover.

Almost two-thirds of expats living in the Middle East hope to retire before they reach 60, but far fewer are confident of doing so, according to a study by Zurich International Life (ZIL).

Just under half (49pc) of IFAs expect the market for variable annuities to grow over the next year, according to research by MetLife Europe.

The FSA has fined Credit Suisse £5.6m for breaching FSA Principles 2 and 3 by failing to conduct its business with due skill, care and diligence and failing to organise and control its business effectively.

Strong losses for US financials overnight stung UK banking stocks upon opening this morning; driving the FTSE100 34.40 points (0.62%) lower to 5500.10.

The FSA has hit the UK operations of Credit Suisse with a £5.6m fine for controls and systems failings.