Macroeconomic concerns and the upcoming US election have caused fund managers to turn pessimistic on global economic growth, according to Bank of America.

Janus Henderson has been awarded a $285 million mandate from MLC Asset Management to manage emerging market equities.

Asset manager Nuveen has promoted Saira Malik, who has worked at the firm for more than 20 years, as head of equities and fixed income.

Mergers and acquisitions in the Australian financial services industry are expected to continue surging, with M&A leaders looking to double the number of deals they are pursuing.

DNR Capital has announced the launch of a specialist global small and mid-cap equity manager, as it also welcomes its second portfolio manager on board.

Clime Investment Management has appointed an acting managing director following the resignation of group chief executive Annick Donat.