Bankhall joint chief executives Paul Hogarth and Simon Taylor have quit, with managing director Peter Mann taking over with immediate effect.Hogarth remains as strat- egic marketing consultant at Bankhall while Taylor is leaving to pursue other financial services business opportunities, expected to relate to the mortgage and general insurance sectors. Hogarth and Taylor, two of the four founding members of Bankhall, each held 7 per cent of the firm. These stakes have now been sold back to Skandia which now owns 95 per cent of the shares. Both resigned at the end of three-year tie-ins which were signed when Skandia bought the IFA services provider for 180m. Last March Skandia valued Bank-hall at 110m after a 70m goodwill write-off. The IFA support service provider has been restructuring since April following the closure of its Investment Strat- egies Limited network amid rumours that Skandia intends to sell it. Hogarth will remain involved in the strategic direction of the company while he explores other opportunities in the mortgage and GI sectors. Mann says: “2005 has been a very challenging year for Bankhall. We have already developed the support serv- ices business in line with our members’ changing needs and have streamlined our oper- ations accordingly.” Hogarth says: “With my three-year contract coming to an end, it was time to look at other opportunities. I wanted to remain with the business but my concentrating on the day-to-day had taken me away from the sharp end.”
Ethical investments broke the 10bn barrier for the first time last year, according to Co-operative Financial Services. It says 10.6bn was placed in ethical investments or deposited with ethical banks and credit unions during 2004. A total of 5.5bn was invested in ethically screened funds while 5.1bn was deposited in ethical banks and credit unions. […]
Portman Building Society
Five Year Fixed
The Council of Mortgage Lenders is predicting modest falls in house prices by the end of this year with a flat 2006 and an average rise of just 2 per cent in 2007. The CML forecast says arrears are on the rise with an increase in borrowers with over three months’ mortgage arrears from 92,000 […]
Bradford & Bingley made a profit of 150m for the half-year, up 8 per cent from 139.4m in 2004.
A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.
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Three advice firms have stopped giving pension transfer advice following work by the FCA over the future of the British Steel Pension Scheme. A statement this afternoon details the FCA’s “information gathering exercise” to identify the firms that have been most active in advising people to transfer out of the scheme. The regulator got information from […]
The FCA has launched a consultation on its approach to authorisation and competition, which will be open to responses until March next year. Following the launch of the FCA’s mission in April, the approach documents are the second and third in a series of papers explaining how the watchdog tackles regulation. The first document, the […]