Aberdeen Asset Management profits climbed 64 per cent to £5.9m from £3.6m for the six months ended March 31. Assets under management increased by 19 per cent to £15.6bn from £13.1bn including £335m of net new business and £440m worth of acquisitions.
Skipton Building Society has appointed Mark Smitheringale as head of corporate communications.Smitheringale moves to the role from his current position as head of special projects and managing director of the society's subsidiary Skipton MortgagesLimited.He has been with the society for eight years.
HSBC Asset Management has added a fixed income Isas to its range of IFA savings products.The Fixed Income Isa offers a fixed tax free income of 7.25 per cent for five years. Both maxi and mini options are available and investors can choose to be paid quarterly, annually or for it to be rolled up.Initial […]
Bradford & Bingley's decision to convert into a bank will result in more business for the remaining mutuals according to Yorkshire Building Society chief executive David Anderson.He says: "The net result of the Bradford & Bingley decision is another competitor handicapped."The vote suggests that Bradford & Bingley have attracted huge numbers of speculators over the […]
Leeds & Holbeck Building Society has appointed Robert Wade as its new chairman.Wade is also chairman of textile company the Leeds Group and a non-executive director of a number of other companies.He takes over the role from Peter Hartley who retired on Monday after serving 20 years on the board.
Ryan Medlock, Investment Proposition Manager, Royal London Royal London Asset Management’s (RLAM) new head of multi-asset is officially up and running. I want to look at what expertise Trevor brings to the table and how this affects the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs). Trevor Greetham joined RLAM in April 2015 from […]
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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 […]