Deutsche Bank funds unit shakes up senior ranks
Deutsche Asset Management has unveiled an overhaul of its senior management, saying that Reinhard Bellet, the head of passive investment products in charge of its exchange traded fund operations, will depart this year. Stefan Kreuzkamp, chief investment officer of active products, and Pierre Cherki, head of alternative assets, will now serve as co-heads of the €711bn fund management unit. (FT)

Japanese insurer to invest in Swiss Re UK arm
Japan-based MS&AD Insurance on Friday announced an agreement to buy a 5% stake in ReAssure Jersey One, a UK unit of Swiss Re, for £175m. It will also subscribe to new shares in the business worth up to £800m over a three-year period. (FT)