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Japan's Nikkei 225 has suffered its second huge fall in a little over a week after the index closed down 5% overnight.

Richard Philbin, the former F&C and Architas multi-manager, has teamed up with the founder of Skandia's Best Ideas range Alan Durrant to launch a new multi-manager business.

Major indices across Europe traded lower on Wednesday, reversing gains made yesterday as the IMF cut Chinese growth forecasts.

Verona Smith, marketing director of Cofunds, is to join The Platforum after exiting the fund supermarket in the wake of its takeover by Legal & General.

Fidelity Worldwide Investment (FWI) is to expand its range of FAST funds with the launch of a US portfolio for manager Adrian Brass, as it moves to create a US equity research desk that can "rival anything in London".

Many UK-listed stocks have got off to a flying start in 2013, with indices approaching all-time highs, but some companies have been given a rough ride by markets, destroying shareholders' capital in the process.

Lloyds Banking Group has moved to place a further 15% of St James's Place (SJP) shares that it owns into the market in a surprise move which will leave it with just 21% of the company's share capital.

Aberdeen Asset Management has completed a deal to buy US asset manager Artio Global Investors for £118.3m ($179.7m)

Cazenove Capital's director of investment funds Robin Minter-Kemp is expected to exit Schroders after the two groups combine later this year, Investment Week understands.