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BNY Mellon Asset Management has hired Thomas Connolly as managing director, head of asset management for the Middle East region.

Barack Obama's first task as US president is to return confidence to the financial system and to the economy, and we can expect significant fiscal stimulus in 2009, according to Newton Investment Management's Simon Laing.

The UK's Investment Management Association has backed the Committee of European Securities Regulators' (Cesr) advice on how to implement the management company passport.

The decoupling argument for emerging markets always had a hollow ring to it, according to New Star's Richard Pease.

Stephen Hester, the new boss parachuted into Royal Bank of Scotland, has been hired on a salary of £1.2m and been awarded shares worth more than £6m to overhaul the bank, The Guardian reports.

The new US president faces an economic environment more fraught with challenges than any time since 1933, according to John J. Hardy of Saxo Bank.

The chief executive of Barclays has written to all 150,000 staff in an attempt to defend the bank's decision to raise £5.8bn from Abu Dhabi and Qatari investors rather than tap the Government for funds, reports The Telegraph.

Jupiter Asset Management has been appointed investment manager for the Landsbanki Luxembourg Investment Fund.

Principal Global Investors has launched its Dublin-domiciled PGIF fund range in Italy.

Abbey International has decreased the interest rates payable on its range of offshore savings accounts, following the recent 0.5% cut in the sterling, euro and US dollar rates.