Spain is facing the gravest danger since the end of the Franco dictatorship as the country is frozen out of global capital markets and slides towards an epic showdown with Europe.

JPMorgan Chase is spinning out the "special investments group" from its troubled chief investment office (CIO) as executives clean up the division that caused $2bn trading losses, according to people familiar with the matter.

The head of Ten Downing Street's policy unit under the premiership of John Major is set to join the board of Lloyds Banking Group, the taxpayer-backed lender.

The latest appointments in financial services...

Old Mutual Asset Managers has appointed Steven Brown, formerly of RBS Global Banking & Markets, as head of advisory distribution.

Sanlam Fund Solutions (SFS) has linked up with Source Pensions to provide advisers access to investment management advice in the corporate pensions market ahead of auto-enrolment.

Sesame Bankhall Group (SBG) has created a risk profiling tool for advisers designed to comply with recent Financial Services Authority (FSA) guidance on assessing suitability.

A group of financial professionals are walking to the North Pole in an effort to raise £1m for injured Forces personnel.

Sanlam Investment Holdings (SI) has acquired the remaining 50% shareholding in index fund manager Satrix Managers as it looks to expand its ETF offering to the UK marketplace.

The Financial Services Authority (FSA) has banned George Leavey, the managing partner at stockbroking firm First Colonial Investments (FCI), for reckless misconduct.