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Yesterday Aberdeen Asset Management confirmed rumours it was in talks to buy Scottish Widows Investment Partnership (SWIP), a deal which would make it the largest listed fund management firm in Europe.

Aberdeen Asset Management has said it is in discussions with Lloyds Banking Group over a possible acquisition of Scottish Widows Investment Partnership (SWIP).

Aberdeen Asset Management and Macquarie Group are the two remaining bidders battling it out for Scottish Widows Investment Management (SWIP), Investment Week understands.

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Scottish Widows Investment Partnership's Daniel McKernan is to join Standard Life Investments as head of sterling investment grade credit.

Fund closures and mergers in the UK have soared to a record high in the past six months as groups cull smaller or underperforming funds amid pressure on margins.

M&G has lost its number one spot at the top of the widely followed Pridham report, after sales at rivals BlackRock and Standard Life surpassed the Prudential-owned asset manager.

Threadneedle parent company Ameriprise Financial is preparing an £800m bid for Scottish Widows Investment Partnership, according to reports.

UK equity manager James Clunie has left his role at Scottish Widows Investment Partnership (SWIP) to join Jupiter Asset Management.