Northern Rock chief executive Gary Hoffman has told Treasury select committee MPs it could take up to 20 years to clear Northern Rock Asset Management’s mortgage book and repay Government loans.
Keydata’s administrator PriceWaterhouseCoopers has revealed that properties invested in by special purpose vehicle Hometrak SA are now in negative equity and it is unlikely the investment will be returned.
Keeper of the public records to replace Merricks
IM Asset Management is gearing up to relaunch its product range as it seeks external investors beyond the group’s core client base of personal injury claimants. IM is a wholly owned subsidiary of Irwin Mitchell, the UK’s fourth-biggest law firm with a major presence in cities including Sheffield, Leeds and Manchester. The firm focuses on […]
Chris Gilchrist Robert Shiller, one of the world’s most influential economists, used an op-ed column in the FT last year to argue for more financial innovation. He claimed it wasn’t innovation (as in slice-and-dice mortgage-backed securities, etc, aka toxic assets) that caused the sub-prime crisis and the credit crunch, but lack of it. Shiller said […]
Mike Riddell, fixed income portfolio manager at Allianz Global Investors, reviews the performance of the UK government bonds market post-Brexit and assesses its future prospects, as well as giving his outlook for global fixed income markets and yields movements. In addition, he provides a brief analysis of the impact of Brexit and the Bank of […]
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]