The board of trustees of the Teachers' Retirement System of the State of Illinois may pull a $609m (€494m) international equity brief from Invesco Global Asset Management and a $616m US large cap growth mandate from MFS Institutional Advisors because of the market timing scandal in the US.

The scheme said that it has placed both firms on its watch list pending the Securities and Exchange Commision's civil enforcements against both companies.

In brief: MFS and Invesco on Illinois watch list/JP Morgan custody win/Axa IM ETFs

JP Morgan

Axa Investment

Impax general counsel and strategy head exit as 30 staff axed

FCA scraps plans for diversity and inclusion rules

SJP hires ex-Aberdeen marketing boss Rob Sanders as chief client officer

Artemis names ex-Man GLG boss Johnston as next CEO

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Teun Johnston will take over from Mark Murray, who leaves in the summer after 28 years with the fund house

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CEO Mark FitzPatrick continues to overhaul the wealth manager’s leadership team a year after taking the helm

Coutts’ Camilla Stowell joins Rathbones as wealth CEO

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Stowell, who survived the Nigel Farage debanking scandal, will lead Rathbones’ investment management and financial planning divisions

The administration improperly targeted the firm based on its clients’ political positions, according to a court ruling.

Judge Halts Trump Order Targeting Law Firm Perkins Coie

Behind closed doors, business leaders air plenty of their concerns about the administration and its policies.

CEOs Don’t Plan to Openly Question Trump. Ask Again If the Market Crashes 20%.

Europe would pack a strong punch if it were forced to defend itself against Russia without the U.S., American military brass and officials who have served across the Atlantic say.

How Europe’s Military Stacks Up Against Russia Without U.S. Support

Kyiv has seized the diplomatic initiative but Russia retains the advantage on the battlefield, having chewed through Ukrainian land.

By Matthew Luxmoore, Michael R. Gordon in Shannon, Ireland, and Jane Lytvynenko in Kyiv 

Ukraine Turns Tables With Cease-Fire Proposal, but Putin Has Little Incentive to Sign

Ukraine Turns Tables With Cease-Fire Proposal but Putin Has Little Incentive to Sign

A skirmish for talent at Wall Street’s elite law firms continues with this latest shake-up.

Paul Hastings Hires Top Kirkland Dealmaker to Lead M&A Practice

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