Reuters reports that JPMorgan has instructed property services firm Knight Frank to offload 5 Churchill Place, a new building that was to be Bear Stearns' European headquarters. Unfortunately Bear was finished before the building, and, as JPMorgan is planning to build its own new European HQ in the City, Churchill Place is now surplus to requirements.

The news agency also reports that US prosecutors are mulling over bringing further charges against Ralph Cioffi and Matthew Tannin, the two Bear Stearns hedge fund managers who were charged with conspiracy and securities fraud last month in connection with two failed Bear hedge funds. Reuters quotes Assistant US Attorney Patrick Sinclair, who said that 'the government is indeed contemplating additional charges', but didn't specify what they were.

The Financial Times reports that The Qatar Investment Authority (QIA) is now Barclays' largest investor, after only 19% of existing shareholders took up their rights in the bank's recent 'claw-back' issue, which raised just over $9bn. QIA now owns around 6% of the UK-headquartered bank.

Reuters reports that, according to two unnamed 'people familiar with the situation', Allianz's supervisory board has agreed to split Dresdner Bank into two separate entities, one segment for private and corporate clients and the other investment banking arm Dresdner Kleinwort. The move will no doubt fuel rumors that the investment bank will be spun off or sold. Wags suggests that Allianz might actually be trying to stick Dresdner to one side and hope it will just go away (wait a minute, that's what it's been doing for years).

Bloomberg reports that shares in Aberdeen Asset Management rose 6% Friday, their biggest increase for over 5 years. Investors were clearly content as the firm confirmed that its assets under management rose 6% in its fiscal third-quarter to March 31st. CEO Martin Gilbert said: 'We've been through the worst of the credit crisis, though there will still be some shocks along the way. Institutional investor confidence is still OK, but the retail investor is still fragile'.

Finally, the news agency reports that shares in HSBC rose the most in almost four months Monday, after it was reported that the bank has held talks with China Investment Corp. about the possibility of an investment from the sovereign fund. 

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