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Activist investor urges FCA to fix LSE management

London Stock Exchange LSE 480The Children’s Investment Fund has asked the FCA and Bank of England to appoint a new chairman at the London Stock Exchange over fears corporate governance is not up to scratch.

TCI, which holds a five per cent stake in the exchange, feels the forthcoming departure of LSE chief executive Xavier Rolet has not been explained adequately.

It has expressed fears the LSE board has gagged Rolet, and, according to the Financial Times, has called for shareholders to meet to decide on the fate of chairman Donald Brydon.

Rolet was “being improperly threatened by the board with severe reputational damage unless he immediately steps down as CEO…or publicly confirms that he does not want to remain,” a letter to Brydon alleges.

A meeting between TCI and the LSE was cancelled last week. The LSE board has not commented on why Rolet would leave since the departure was announced last month.


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Dennis Hall: Fixed fees shift will soon gather pace

I was at a dinner earlier this year discussing the future of adviser businesses, when the person next to me mentioned they had recently transitioned to a flat fee model. “That’s interesting,” I said. The flat fee model is something I struggle with. Conceptually I like the idea, but I have not been able to […]


OMGI and Jupiter to change pricing structures across fund ranges

Old Mutual Global Investors and Jupiter are switching from dual pricing to single pricing across their respective fund ranges, while OMGI is also introducing a fixed ongoing charge for its single strategy UK funds. Both firms say the pricing changes follow reviews and are intended to standardise their approaches with the industry. Vanguard and Axa Investment Managers also […]


Banking regulator picks Paris over London amid Brexit

Paris has beaten Dublin to swipe the European Banking Authority from London following Brexit, meaning the French capital will now host two of the three European Supervisory Authorities. An internal survey of EBA staff ranked Paris as the most desirable city to move to after Vienna, which had been a frontrunner for the authority alongside […]

The Downsizing Delusion: Why relying exclusively on your home to fund your retirement may end in tears

By Steve Webb, director of policy The British obsession with homeownership can have dangerous consequences. A recent survey by Barings¹ found that up to three million people of working age were planning to rely wholly on the value of their home to fund their retirement. We are not talking about people investing in buy-to-let or […]


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