The $34bn (€26bn) Los Angeles County Employees Retirement Association has axed Schroder Investment Management from running a $300m Pacific Basin mandate.

The fund's website said the assets had been transferred to Barclays Global Investors Europe, Australasia, Far East (EAFE) index fund.

Jason Corcoran

Barclays Global Investors

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FCA chief executive Nikhil Rathi reappointed for second term

Deutsche Bank hires top Barclays banker Swerling as global head of ECM

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The German lender has hired Barclays’ co-head of equity capital markets to lead its team globally

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Find out who is on the move in the City and beyond this week

HSBC hands Blackburn top risk role as shake-up continues

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The UK lender has given the leading compliance job to a 20-year veteran

Once an heir apparent for Larry Fink, Wiedman now tops the list of potential successors to PNC chief Bill Demchak.

PNC Names Former BlackRock Star Mark Wiedman as President

The European Union has a plan to counteract the swathe of tariffs U.S. President Trump is planning to impose on foreign goods, European Commission President Ursula von der Leyen said.

EU Has Plan to Retaliate on U.S. Tariffs, Von der Leyen Says

The Japanese investment firm is entwining its fortunes with a company that expects to lose billions of dollars for years to come, in the hope that it will emerge as the leader in AI.

How Is SoftBank Funding Its Mega Investment in OpenAI? A Lot of Debt

The BlackRock CEO says he wants individuals to have better access to the menu of private and illiquid investments that have long been core holdings of pensions, endowments and other institutions.

Larry Fink Says Regular Americans Need Private Assets Too

The prospect of a radical escalation in the global trade war in the coming days has nearly doubled the probability of a recession in the U.S. economy in the next 12 months to around 35%, according to Goldman Sachs.

Goldman Sachs Lifts U.S. Recession Probability to 35%

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LA retirement association axes Schroders

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