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As a result of a realignment of Deutsche Bank's Global Transaction Banking (GTB) arm Werner Steinmueller has been appointed global head of GTB.

The International Accounting Standards Board (IASB) today issued an amendment to the hedge accounting provisions of IAS 39 Financial Instruments: Recognition and Measurement.

PricewaterhouseCoopers today underscored the positive impact the Sarbanes-Oxley Act has had on the capital markets and investors confidence. PwC Global CEO Samuel A. DiPiazza, Jr., who participated in the SEC's April 13th Roundtable on Section 404, said: "The Act brought about three important improvements for the capital markets:

UK companies made £8 billion ($15.1 billion) of special contributions to reduce pension deficits during 2004 – an increase of nearly a quarter from 2003.

Politics is seriously damaging market forces as the means to world rebalancing, and now the protectionism raises it ugly head. Congress is developing a serious "bash-China" mood.

Misys Banking Systems has announced the launch of a range of new solutions to help both corporates and banks align their back offices with SwiftNet, the cooperative messaging platform.

Impco Technologies CFO and treasurer Nickolai Gerde has resigned to pursue other opportunities.

Research by KPMG shows there has been a significant surge in the number of FTSE100 finance directors who are leaving their jobs – and that 2005 could set a new high in the number of departures. The analysis underlines how finance directors are now under increasing pressure from both their boards and investors – and that there is now a growing shortage of people able to take on the top-level finance positions in the UK's biggest companies.

Canadian biopharmaceutical company QLT has announced that Michael Doty is to step down as CFO with immediate effect, though there was no indication that this was linked to poor performance. CEO Paul Hastings said Doty had implemented a new standard of financial discipline at the company. "He introduced a new budgeting process that has allowed us to better control and manage our business, he put in a highly effective foreign currency exposure risk management strategy, and he has worked diligently to meet the many new requirements of corporate governance, including those of the Sarbanes-Oxley Act," he said.

Werner Steinmueller has been appointed global head of Deutsche Bank's Global Transaction Banking (GTB) business. In his new function, Steinmueller will ensure a strong customer focus, enhanced regional alignment and closer cooperation between the GTB areas, which includes cash management, trade finance and trust & securities services.

John van der Welle, FD of Premier Oil today, has quit the company after losing out as the company's choice as CEO. Van der Welle leaves the company after six years after failing to secure the position of CEO, replacing Charles Jamieson who retired earlier this year.

A new survey by Mercer Human Resource Consulting, the world's largest employee benefits consultancy, shows that employment costs in western European countries are more than four times higher than those in the east. At the extremes, costs in the most expensive countries are over ten times those in the least costly countries.