Paul Feeney, chief executive of Old Mutual Wealth Management, said the firm is aiming to become the number one wealth manager in the UK, following its merger with Skandia.

The UK's main inflation rate has fallen to 2.2% in September from 2.5% in August, dropping to its lowest level for three years.

A number of leading asset managers have introduced premium prices on popular products and specialist mandates ahead of the move to unbundled pricing next year.

Old Mutual Wealth has announced 200 jobs will be axed as it merges its business with Skandia.

OBSR founders Richard Romer-Lee and Nigel Whittingham have left Morningstar OBSR to take a career break from the industry.

Fund groups are preparing for a price war in the first quarter of next year as they overhaul their charging structures ahead of RDR.

Former Treasury minister Paul Myners has joined the board of the Ecofin Water & Power Opportunities investment trust as a non-executive and independent director.

The Financial Services Authority (FSA) has fined Swiss-based French hedge fund manager Stefan Chaligné £900,000 and handed out a lifetime ban for market abuse.

Chancellor George Osborne should abandon his debt reduction target in his Autumn Statement, a leading think-tank has suggested.

Thames River investment director Mike Warren has left the firm, Investment Week understands.