Profitability in the investment management sector was flat in the last three months but robust growth is expected to come in the next quarter, according to the latest CBI/PwC survey.
Ambitions to make Britain the western hub for Islamic finance have taken a stride forward as the sovereign Sukuk, the Islamic equivalent of a bond, was issued.
The US-based Northwestern Mutual today confirmed it is selling the company's subsidiary Russell Investments to the London Stock Exchange Group for £1.6 bn.
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