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AMP appoints Mohl as new chief executive

AMP has moved quickly to appoint Andrew Mohl as chief executive officer after Paul Batchelor was forced to step down after difficulties with its UK operations and the capital strength of the Pearl with-profits fund. Mohl was immediately made acting chief executive and his contract will be subject to shareholder approval. Chairman Stan Wallis is due to step down following the appointment of Mohl.

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Sandler attacks industry failure to motivate savers

The financial services industry must not view the prospect of pension compulsion as a redemption for its own failure to create demand for its savings products, warned Ron Sandler.In explaining why the compulsion issue was only touched upon in his report in July, Sandler told delegates at the CII conference that the industry has much […]

Pickering rejects annuity purchase compulsion

Pensioners should not be forced to buy an annuity but must ensure they have a regular income for life, according to Alan Pickering.Speaking at the Chartered Insurance Institute&#39s annual conference in Birmingham last week, Pickering said he disagreed with the notion that the Government should dictate how the income stream from pensions is decided.He did […]

£4m loss for Inter-Alliance but it aims to be in profit by end of 2003

Inter-Alliance made a loss of almost £4.3m for the first six months of this year but expects to be back in profit by the end of next year.Chairman and chief executive Keith Carby, who joined the national IFA in January, says the company has been in a period of recovery.The loss was down by £20m […]

Talkback

“No because one of the benefits of a pension is the ability to draw down that lump sum. Some people have already drawn down income from their pension and it would be unfair for others not to.”Emma Ames, Cathedral Financial Management“No. A lot of people do not have much faith in pensions already.”Howard Pickersgill, Howard […]

Bonds going bust? Not so fast….

In recent months bond bears have been reinvigorated, and market commentary suggesting “the end of the bond (bull) market is near” has become commonplace. We think these comments are premature. Explaining the global government bond sell-off October has seen renewed pressure on global government bonds, initially provoked by a Bloomberg article suggesting that the ECB […]

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