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Barclays sees huge rise in lending as profits soar

Barclays witnessed a massive jump in mortgage lending last year to make up for a disappointing 2005.

Gross advances at the lender, whose mortgage business is run under the Woolwich brand, were 60 per cent higher at £18.4bn than the £11.5bn in 2005, with a market share of 5 per cent, up from the previous year’s 4 per cent.

Last year, Barclays was forced to admit that its mortgage performance in 2005 was not good enough.

The group recorded a 35 per cent increase in profits from £5.3bn – £7.1bn. Chief executive John Varley says: “Barclays had an excellent year in 2006. We anticipate the needs of customers and clients.”


Rights issues

With changes hanging over protected rights benefits for pensions , what can be done to help clients??

Scottish Widows appoint head of research and analysis

Scottish Widows has appointed Gareth Trainor as head of fund research and analysis for investment services. Trainor, who joins from AEGON Scottish Equitable, will be responsible for recommending the inclusion or exclusion of funds within the Scottish Widows life and pension and Scottish Widows Unit Trust Managers fund ranges. He will also oversee the creation […]

Resolution to soft-close Argonaut

Resolution Asset Management is to soft-close the Argonaut European alpha fund less than two years after its launch.The fund, managed by Barry Norris, has 365m and the group looking to close the veh-icle to new investors at 500m to ensure it has headroom to continue investing.Head of sales and marketing Jonathan Polin says he expects […]

Leigh Harrison

In reaching the dizzy heights of the fund management industry, this keen rock climber has found himself working alongside the likes of income guru Bill Mott – and even outperforming him while helping to run Credit Suisse’s flagship income funds. Now head of UK equities at Threadneedle, he describes himself as a pure money manager who is determined his new managerial responsibilities will not take his eye off his main priority – his investors. Interview by Chris Salih


Guide: what you need to consider for your auto-enrolment project

In this guide, Johnson Fleming reveals what items you need to understand to gauge the impact of auto-enrolment on your business. The guide focuses on: the impact that your auto-enrolment scheme will have on you; assessing your workforce; understanding your staging date; reviewing your current provision; and modelling contribution levels and costs.


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