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Aberdeen sees profits grow 37 per cent

Aberdeen Asset management increased its pre-tax profit by 37 per cent to £48m for the year to September 2001, up from £35m in 2000.

Profits increased by 57 per cent to £182m in 2001, up from £115m in 2000, while assets under management increased 58 per cent to £34bn from £21bn, in a year when the company acquired Equitilink, Murray Johnstone and Aberdeen Property Investors.

Aberdeen chief executive Martin Gilbert says: ” It has been a busy year for acquisitions and a successful one for integrating these businesses within the Group. This has happened during some of the most volatile market conditions in recent memory and yet we have achieved much and have improved our operating margins.”


Aberdeen appoints two from Cazenove to head private client office

Aberdeen Asset Management is appointing Simon Akroyd and James Thompson to establish a London private client office.Akroyd and Thompson both join from Cazenove, where Akroyd was head of the private unit trusts and Thompson was head of private client business development.Aberdeen Asset Management director Gary Marshall says: “With £1 billion already under management, Simon and […]

Regulator takes action against three more firms

Three more IFA firms have been disciplined by the PIA, despite the fact that it no longer exists as a regulatory body, having been replaced by the FSA on Saturday. The FSA says any disciplinary action that was decided on before December 1 will still come under the banner of the PIA.Julian Harris Financial Consultants […]

UK banks lose out as US giant collapses

Several UK banks, including Abbey National and Barclays, have suffered losses of tens of millions of pounds due to the collapse of US energy giant Enron.Abbey, the UK&#39s second-biggest mortgage lender and owner of Scottish Mutual and Scottish Provident, admitted this week that it has been forced to write off £95m of the £115m it […]

Protection business booming for Scottish Provident

The protection war is heating up again with Scottish Provident claiming it has seen a 70 to 80 per cent increase in business since September 11.It says IFAs are turning to protection as investors shy away from turbulent markets. It believes there is a renewed interest by people concerned about protecting their families.The firm says […]


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