Giant US asset manager and pension consultancy Mercer has agreed to acquire UK pensions risk and investment management firm Cardano Group, for an undisclosed sum.

Long-term funds domiciled in Europe had their worst year in 2022 in term of flows since 2008, shedding €130bn (£114bn).

STM Group, parent company of SIPP provider Options, has agreed to acquire the SIPP and SSAS portfolio of US asset manager and pension consultancy Mercer.

Punter Southall Aspire has recruited Chartered Financial Planner Josh Gordon for its Poole office.