Mercer has created a new global chief investment officer role within its growing investment management business.

GLOBAL - Mercer has created a new global CIO role within its growing investment management business.

GLOBAL - Investor confidence rose by just 2.2 points in July from June's revised level of 98.9, research by State Street shows.

US - BlackRock saw second quarter profits rise by 43% to $619m, as an increase in assets under management helped drive up fees.

CANADA/AUSTRALIA/EUROPE - The Ontario Teachers' Pension Plan has struck a deal with MAp Airports to exchange its interest in Sydney Airport and a cash payment for MAp's interests in Brussels Airport and Copenhagen Airport.

GLOBAL - Franklin Templeton's Mark Mobius has said Russia is his current emerging market of choice and suggested concerns over corporate governance are misplaced.

Cardano has been appointed as fiduciary manager for Pirelli's UK pension funds.

UK - Cardano has been appointed as fiduciary manager for Pirelli's UK pension funds.

GLOBAL - Institutional investment managers showed a marked trend towards risk aversion in the second quarter of 2011 amid negative economic news, research by Northern Trust found.

US - Moody's has become the second ratings agency to place fixed income funds on review for possible downgrade over concerns they are either entirely or largely directly invested in US Treasury and government agency securities.