Santander

Europe's major markets climbed on the first day of trading after Spain was granted a €100bn bailout for its banking sector over the weekend.

Bankers have told Chancellor George Osborne any move by the government to protect savers in the event of a bank collapse would force them to increase borrowing costs.

SPAIN

Butterfield Bank's David Stewart has been named as CIO at Santander AM following the departure of John Berman, who is moving to a similar position at Thomson Miller Investment.

SPECIAL REPORT

Santander's multi-manager team has added the $233m Brown Advisory American fund to its portfolios as it concentrates active US exposure around three core holdings.

Santander multi-managers Tom Caddick and Toby Vaughan have bought into the BNY Mellon Absolute Return Equity fund as they take a "relatively cautious" view on risk assets.

Credit rating agency Moody's has placed Santander UK's long term debt and deposit ratings under review following the announcement last week that its parent may be downgraded.

M&G tops both retail sales lists as investors seek out bond funds, while BlackRock's active and passive vehicles also prove popular.

The Financial Services Authority (FSA) has fined Santander £1.5m for failing to confirm to customers the circumstances under which its structured products would be covered by the Financial Services Compensation Scheme (FSCS).