The rapidly expanding Embark Group has acquired Zurich’s platform arm for an undisclosed sum, pushing its assets under advice to £33bn.

The FCA has fined Henderson Investment Funds Limited £1.868m for failing to tell thousands of investors for five years that two active funds had been converted to ‘closet trackers.’

New Aviva chief executive Maurice Tulloch has announced a major restructuring which will see the group streamlined into five divisions and both substantial investment and cost cutting between now and 2022.