Equities

Invesco Perpetual has launched a Global Distribution fund for co-heads of fixed interest Paul Causer and Paul Read (pictured).

Neil Woodford is to launch his long-awaited equity income fund at the start of next month with a flat fee structure that will see his firm absorb admin costs.

Barclays will cut 19,000 jobs across the business by the end of 2016 - 14,000 of which will be lost this year - as part of what chief executive Antony Jenkins said was a "bold simplification" of the bank's structure.

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Schroders has promoted global head of equities Peter Harrison to the vacant position of head of investment.

Wealth manager Towry has agreed a £70m refinancing deal which will reduce its cost of capital and give it cash for acquisitions.

Royal Bank of Scotland (RBS) has announced profits of £1.6bn for the first quarter of 2014, far surpassing expectations and sending shares soaring more than 10%.

Invesco CEO Martin Flanagan has played down analyst concerns over further UK equity income outflows as former employee Neil Woodford prepares to launch his own fund.

Schroders' private banking arm has seen net revenues almost double following its acquisition of Cazenove Capital last summer.