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ING Direct is to be the white knight for thousands of UK savers as it takes over £3bn of retail money held by Kaupthing Edge and Landsbanki-owned Heritable Bank.

Royal Bank of Scotland will today clear out its boardroom as part of a shake-up, demanded by Government, for a state-assisted re-capitalisation of the bank, reports The Telegraph.

Fidelity Special Situations fund manager Sanjeev Shah has followed the lead of predecessor Anthony Bolton and made a strong move back into the markets.

A £40-50bn taxpayer-funded life-belt for high street banks is being considered by ministers as a last resort, according to a report in The Times.

Ogier is set to launch a private wealth service designed to provide personalised wealth planning services to ultra high net worth individuals and family businesses.

Boal & Co has added a Sipp to its range of QROPS pension schemes, which allow British expats and other UK non-residents to transfer UK occupational and personal pensions to an offshore pensions environment.

Current dire market conditions are a result of the 2003 bear market not being dealt with properly by regulators, according to Andrew Milligan, investment director at Standard Life.

F&C Investments is seeking to build its fund distribution in China with an agreement in principle with Hua Xia Bank to form a joint venture fund management company in China.

In the four long and tempestuous weeks since the Bank of England's interest-rate-setting Monetary Policy Committee (MPC) last met, the economic landscape of Britain and the world has been radically transformed, reports The Times.

Jersey has seen the launch of 26 unregulated funds since the introduction of the new rules earlier this year.