View more on these topics

Bennett named as new group CEO for A&L

Alliance & Leicester has appointed group finance director David Bennett as group chief executive, effective from July 27.

Former group chief executive Richard Pym asked the board in February to consider his successor, resulting in a search of external and internal candidates. He will retire from the board on July 27.

Current managing director, retail banking Chris Rhodes will become group finance director.

Retail banking business will report directly to Bennett while commercial banking business will continue to report to Richard Banks.

A&L chairman Sir Derek Higgs says: “We are delighted to appoint David Bennett as Alliance & Leicester’s group chief executive. In his eight years with the Group, David has continually proved himself to have outstanding leadership abilities and judgement. He has played a key part in the development of Alliance & Leicester and in building the growth and momentum we can see in the group’s results.

Bennett says: “I welcome the opportunity to lead Alliance & Leicester and to ensure that the growing momentum in our business continues at pace as we implement our strategy. A&L has a great management team and I have every confidence in the group’s continuing and growing success.”

The group’s trading statement, released this morning indicates that its operating profit should be around the top of the current analyst forecasts and its revenue growth is expected to be “significantly higher than in similar periods in recent years.”

Six month interim results will be out July 27.

Recommended

Varying quality

If you are interested in variable annuities, look at the new Lincoln product. There are three US products of this type competing for attention in the UK market, with Lincoln following Hartford and Met Life. Of the three, Lincoln’s plan may be most appealing.Like the others, Lincoln offers a choice of funds, including multi-manager solutions […]

130/30 Vision

The long and short of it is that Ucits III has opened the way for a new type of investment using pseudo-hedge fund techniques, says Chelsea Financial Services managing director Darius McDermott.

1

Fund firms are urged to offer fair share of charges

Winterthur Life and Selestia have hit out at fund management charges and say investment groups are taking too big a share of cake, with distributors, advisers and investors deserving more. They say fund firms should reduce their margin as they have been relieved of much of the responsibility for marketing. Speaking at PIMS, Selestia Investment […]

Firms link to help advisers analyse with-profits plans

Aegon Scottish Equitable, Towers Perrin Tillinghast and Cazalet Consulting have teamed up to offer a with-profits analyser tool to help advisers establish whether their clients’ WP bonds are still suitable investments.Following the FSA’s warnings to advisers to be more proactive when reviewing their clients’ with-profits policies, the free tool is available on Aegon Scottish Equitable’s […]

Is three a crowd?

The pension versus Isa debate has raged on and off for years. Les Cameron, head of technical at Prudential, asks if three’s a crowd.   I think the debate was arguably settled by pensions freedom when the biggest downside of pensions – limited access and poor death benefits – was fundamentally changed. Total access, albeit with […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com