Rumblings of change have the old guards aghast and could bring aftershocks for IROs.
How we all love watching our competitors wash their dirty laundry in public. Hardly surprising, then, that the court wrangle between Unilever's pension fund and its former investment manager over alleged fund mismanagement has elicited such excitement in the City of London. In an investment industry where many cock-ups get brushed under the carpet or dealt with behind closed doors, this spat between Unilever and Mercury Asset Management - now folded into Merrill Lynch Investment Management
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