The £250m (€372m) London Borough of Redbridge Pension Fund is tendering at least three new mandates in a shift from balanced to specialist investment management.

Incumbent managers Capital International and Schroders have both been put on notice that they will lose existing balanced mandates with the fund. They have been invited to re-pitch for the new specialist portfolios.

Brendan Maton

HSBC

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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Bosses aren’t just unapologetic about staff cuts. Many are touting shrinking head counts as accomplishments in the AI era.

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The president turned a rare visit to the U.S. central bank into political theater that included hard hats and a back slap.

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The Italian bank lifted earnings and shareholder-distributions guidance after reporting better-than-expected profit, looking to turn the page on its aborted takeover bid for its smaller peer.

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