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Allfunds Bank head Alan Gadd to step down

Allfunds Bank head of UK and Ireland Alan Gadd is stepping down from his role at the end of April.

Gadd, who joined Allfunds Bank in 2009, will continue to act as a consultant to the London office focused on implementing the RDR. Gadd was retail business director at Morley fund management, now Aviva Investors, from 2001 until 2005. He was also managing director of retail at HSBC Global Asset Management from 1995 until 2000.

Allfunds Bank global head of distribution and deputy general manager Gianluca Renzini has assumed direct responsibility for the management of the London office and Gadd will report to him in his consultancy role.

Renzini says: “Allfunds sees the RDR as an opportunity to grow its presence in the UK region and we intend to focus additional resources in the market to enhance our proposition.”


Skandia drops JP Morgan from global equity mandate

Skandia Investment Group has handed over management of the £222m Skandia global equity fund mandate to Five Oceans Asset Management. Long-only manager Five Oceans uses various sectors and styles for diversification while aiming to significantly outperform the MSCI World Index over a rolling three to five year period. It takes a high conviction approach, focusing […]

Harsh reality

No sooner had the ink dried on last week’s announcement from Halifax that it is increasing the cap for some borrowers on its standard variable rate from 3 per cent above base rate to 3.75 per cent above base than it trumped that by increasing its SVR to 3.99 per cent. With about 850,000 customers […]

Shareholders could get binding vote on top pay

The Government has proposed giving shareholders a binding vote on executive pay. The Department for Business Innovation and Skills has published a consultation which suggests giving shareholders an annual binding vote on executive pay as well as increasing the level of support required in those votes for pay packages. It also proposes that firms be […]

Proc follies

There has been a lot of discussion about the real value of mortgage advice and what customers are prepared to pay for it although the price of a mortgage is only one element of the multitude of factors that affect the real value of expert advice. In today’s world and following the implementation of the […]

Keep calm and carry on?

We British are known for our stiff upper lip and just getting on with things. It’s part of our quirky cultural behaviour – like forming orderly queues, or saying sorry when it’s not our fault. Many of us just aren’t that great at talking about what’s bothering us. But if someone feels that the stresses […]


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