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2,500 jobs likely to go at Abbey

Abbey has confirmed that more jobs are likely to go as part of the Grupo Santander cost-cutting plan. It is understood that 2,500 cuts will be made next year. The three-year plan is to increase revenue between 5 and 10 per cent on a yearly cumulative basis and transform Abbey into a full-service retail bank.

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Hedge fund industry resists FSA

The Alternative Investment Management Association has hit back at attempts by the FSA to impose tighter controls on the hedge fund industry. AIMA says it rejects the idea that there is lower compliance among hedge fund managers and says tougher regulation will force hedge fund managers out of the City. The association has gathered opinion […]

BBB rejects multi-tie route

Berkeley Berry Birch says it will not go down the multi-tie route as a way of raising capital because it would go against the wishes of the majority of its advisers. Marketing director Carey Shakespeare says some nat-ional IFAs have set-up multi-tie operations, not because their advisers wanted this but because directors needed to raise […]

Eurolife saves 1m in compensation

Eurolife Assurance Group has saved a reported 1m in compensation after 25 per cent of investors in its secured income and growth bonds chose to take a smaller one-off payment instead of the five-year restructuring plan it originally offered when the bond defaulted in January.

Dangerous U-turn

Will taxpayers have to bear the consequences of the Govt’s retreat on pensions?

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