BNY Mellon

Iain Stewart has gained a co-manager on the £3bn Newton Balanced fund, enabling him to spend more time running his £7bn Real Return fund.

Veteran investor Warren Buffett has said US banks have strengthened their capital positions to a level where they no longer pose a threat to the economy.

Although 2013 will be a pivotal year in wealth management as RDR rulings are put in place on 1 January, the past 12 months have also been extremely busy as firms tighten up their business models to meet the deadline.

Newton Investment Management has named Richard Wilmot as lead manager of the £2.2bn Newton Higher Income fund, replacing Tineke Frikkee.

James Harries, the manager of the £3bn Newton Global Higher Income fund, is set to overhaul his portfolio as he changes tack on a variety of sectors.

BNY Mellon and Insight are set to merge a raft of funds into newly created vehicles in preparation for the world post-RDR.

UBS Global Asset Management has hired BNY Mellon's ex-head of investment solutions Ryan Rajkumar.

Victims of Bernard Madoff's Ponzi scheme are set to receive proceeds from a $210m settlement between a Bank of New York Mellon advisory firm subsidiary and US authorities, the New York attorney-general has said.

Newton's James Harries has urged investors to hold back before redeploying cash into Europe.

BNY Mellon has fully acquired the WestLB Mellon Asset Management joint venture in which it already had a 50% stake.