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Aviva chief Harvey is retiring early

Aviva group chief executive Richard Harvey is to retire in July, earlier than expected.

Harvey led the demutualisation of Norwich Union in 1997 and spearheaded the merger of the company with CGU to create Aviva in 2000.

He has been chief executive at Aviva for 10 years and is a former chairman and board member of the Association of British Insurers.

Group finance director Andrew Moss will take over from Harvey and Aviva International executive director Philip Scott will become group finance director.

Moss joined Aviva in 2004 and was previously at Lloyd’s of London, where he was director of finance, risk management and operations.

Harvey says: “With almost 10 years as a chief executive under my belt, there are other dimensions to my life and other things I want to achieve both in international charity work and the business world. “Now is the right time for me to set out on my next adventure while I have the energy and desire to make a difference. Having built a management team at Aviva which has strength and depth, I know that I will leave the company in expert hands.”


Lawson warns taxpayers must not subsidise NPSS

Personal accounts must compete on a level playing field with existing schemes and should not be subsidised by taxpayers, says Standard Life head of pensions policy John Lawson.He warns that the Government could subsidise the artificially low charges of the national pension savings scheme using taxpayers’ money. He says this would leave good employer pension […]

AVC quandary for pension victims over buyback deal

Victims of wound-up occupational pension schemes are being asked to sacrifice AVCs if they want to benefit from the Government’s deemed buyback benefit and are finding it impossible to get advice on the subject.The deemed buyback option was highlighted by pensions minister James Purnell last year allowing qualifying members to have their ben-efits reinstated into […]

Gadhia quits as RBS mortgages chief as division is overhauled

Royal Bank of Scotland mortgages managing director Jayne-Anne Gadhia has quit the lender and been replaced by Craig Donaldson.As part of a restructure in the RBS retail markets division, the personal banking and mortgage businesses are being brought together under Paul Geddes, who becomes chief executive of consumer banking.Gadhia was part of the team that […]

BSA warning despite record lending figures

Building Societies had a record year of gross lending in 2006, their trade body has revealed.Mutuals lent £52.8bn last year, the highest yearly figure on record, according to the Building Societies Association. It comes after the Council of Mortgage Lenders revealed yesterday that overall gross mortgage ledning reached £346bn in 2006, 20 per cent up […]

India correction: a terrific entry point?

By Kunal Desai, head of Indian Equities, Neptune A key concern for investors who were looking at India afresh has been the rich valuations and strong prior performance. We view the correction in the market through short-term growth concerns from demonetisation as a terrific entry point for the long-term investor. Investors should not be overly concerned […]


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