Fidelity

GLOBAL - Fidelity International is changing its name to ‘Fidelity Investment Managers' in an effort to better reflect the group's primary focus.

AllianceBernstein has hired Tim Banks to expand its defined contribution capabilities in the UK.

US/UK - Curtis Arledge, former chief investment officer for BlackRock's fundamental index portfolio, will join BNY Mellon Asset Management as vice chairman and chief executive.

Straight-through processing should be made the industry standard for defined contribution investment transactions, Fidelity says.

The government set "tougher targets than expected" in yesterday's Budget, fund managers say.

Even more industry figures have backed the call for the new coalition government to form a steering group to set out the terms for a permanent pensions commission.

US - Fidelity Investments has reworked its top ranks and brought in BNY Mellon Asset Management president and chief executive Ronald O'Hanley to lead its asset management business while expanding Abigail Johnson's role to oversee distribution.

EUROPE - The €750bn (US$970bn) European rescue package is a positive short-term fix, but does not provide the structural changes needed to make pension funds and other investors fully comfortable with European sovereign credit, asset managers said.

EUROPE - The €750bn (£642bn) European rescue package is a positive short-term fix, but does not provide the structural changes needed to make pension funds and other investors fully comfortable with European sovereign credit, asset managers say.

Lack of political policy on personal finance sustainability so far has been ‘inexcusable', Fidelity International says.