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Aberdeen in corporate shake-up

Aberdeen Asset Management has revealed plans to restructure its board which will see the size of the board reduced from the current 18 to 11 and the creation of a separate executive management committee.

Effective immediately, the seven strong committee will be established and led by chief executive Martin Gilbert. It will assume responsibility for running Aberdeen&#39s asset management business.

Two members of the committee, Gilbert and finance director Bill Rattay, will remain members of the board.

Six other members of the board, Katherine Garrett-Cox, Andrew Laing, Bev Hendry, Gary Marshall, Iain Reid and Hugh Young are resigning immediately and all but Reid will join the committee.


Average house prices rise by 0.5%

The average UK house price increased by 0.5 per cent to £135,100 in October from £134,400 in September, according to the monthly Hometrack national housing survey.Despite continued growth in property prices, the survey, based on information gathered from its housing and estate agency databases, reveals a continuing trend of weakening inflation from an annual high […]

L&G slashes terminal bonuses by up to 9.5%

Legal & General has cut payouts on with-profits by an average 9.5 per cent for pensions and 7.5 per cent for other life policies.The company, which has completed a rights issue, says it was forced to take action following significant falls in world equity markets. Only terminal bonuses are affected, with annual bonus rates remaining […]

Britannic helps clients unmask mortgage horror

To mark Halloween, lender Britannic Money is urging borrowers to take steps to avoid some of the horror stories associated with mortgages.It says people face a trick or treat dilemma with mortgages as there are a frighteningly high number of deals available so choosing the right one can be difficult.Britannic has listed six questions that […]

85% of B&CE stakeholder plans are shell schemes

B&CE, which claims to be the biggest stakeholder pension provider, has revealed that 85 per cent of its plans are effectively shell schemes getting only £1.90 a week in employer contributions.Less than 15 per cent or 27,000 of the life office&#39s 185,000 schemes are getting combined employee and emp-loyer monthly contributions of £50 to £100 […]


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