John Kenchington

John Kenchington has left Money Marketing

5

Clarkson Hill close to Merchant Capital deal

The Clarkson Hill Group has accepted in principle an offer from Merchant Capital and the firms are battling to secure FSA permission to bulk transfer advisers, Money Marketing understands. Mechant Capital, the corporate finance, investment advisory and stockbroking firm, has agreed to structure a new advice business to roll the Clarkson Hill advisers into, if […]

Bestinvest brings out spot the stars list

Bestinvest has answered criticism of its spot the dog report on the worst-performing retail funds by publishing a spot the stars list highlighting its favourites. Spot the stars names the £2.1bn Axa Framlington UK select opportunities fund, managed by Nigel Thomas, as a top pick. In Europe, Bestinvest fav-ours the £744m Schroder European alpha plus […]

Aviva chief Seymour-Jackson to join RAC

Aviva distribution director for UK Life Angela Seymour-Jackson, who has been leading the firm’s RDR work, is moving to the group’s motoring services subsidiary RAC. The move will see Seymour-Jackson appointed managing director of RAC. She will report to Aviva UK general insurance chief executive David McMillan. Seymour-Jackson has hel-ped lead Aviva’s RDR resp- onse […]

MacMillan steps down from BlackRock Euro value fund

BlackRock’s James MacMillan has stepped down from the £113m BGF European value fund and the group is promoting analyst Brian Hall to run the fund. Hall joined BlackRock in 2007 and is responsible for research on the industrials sector. He will be supervised in the new role by the company’s European equity team head and […]

AIC wins concessions in HMRC’s investment trust tax reforms

HM Revenue & Customers has revised its plans to reform the tax rules for investment trusts, following lobbying by the Association of Investment Companies. The Government announced plans to modernise the tax rules for investment trusts in its Budget 2010 in June, after acknowledging they were written in 1965 and left largely unchanged. In July […]

Swip shake-up sees switch on UK growth and financial funds

Scottish Widows Investment Partnership has reshuffled the managers on its £1.6bn UK growth fund and £16m financial fund. It has appointed Jeremy Charles, who was recruited from Aviva UK Life in July, as manager of the Scottish Widows UK growth fund. He takes over from James Clunie, who manages the Swip absolute return UK equity […]

Campaigning pressure pays off with FSCS’s Lifemark move

The Financial Services Compensation Scheme’s decision to recognise 100 per cent losses at Lifemark comes after months of campaigning. The FSCS said last week it will take the view that investors in Luxemburg-based Lifemark’s traded life settlements, in which £349m was invested, have lost 100 per cent of their investment for claim purposes. This means […]

RBS

FSA clears RBS but refuses to reveal secret probe details

The FSA has closed its investigation into the Royal Bank of Scotland, saying the bank made “bad decisions” but they were not the result of a lack of integrity. It says it did not identify instances of fraud or dishonest activity by RBS senior individuals or a failure of governance on the part of the […]

Cofunds adds three trusts

Cofunds has launched three trusts on its platform. They are a bare trust, discretionary gift trust and discretionary loan trust aimed at helping advisers start planning tax solutions based on varying degrees of tax mitigation versus client control of the underlying investments. They were constructed by Technical Connection and settled by a QC. Cofunds says […]

1

European MPs attack £1.5bn Equitable Life redress deal

Members of the European Parliament labelled the Government’s £1.5bn compensation package for Equitable Life victims “inadequate” at a meeting of the Parliament’s petitions committee last week. The remarks came in response to an update to the committee from the Equitable Members Action Group, which said the compensation was insufficient and its allocation “makes no sense”. […]

Clarkson Hill advisers left in uncertainty

Clarkson Hill advisers have been left in limbo following the FSA’s decision to remove the firm’s regulatory permissions. The Cambridgeshire-based group, which has 114 adviser firms listed on the FSA register, announced to the stockmarket this week it was no longer able to undertake regulatory activities. The FSA has told Clarkson Hill to inform all […]