Barclays profits soared by 92 per cent last year to £11.6bn from £6.1bn in 2008 following the sale of its investment business Barclays Global Investors for £6.3bn. Excluding the sale, the profit was £5.6bn, 13 per cent down on 2008.
Fortis Life UK managing director Martin Werth says he is disappointed that the consumer protection and insurance engagement campaign did not develop but says the industry still has a role to play in closing the £2.3tn protection gap.
Which? chief executive Peter Vicary-Smith sets out the aims of the organisation’s banking inquiry.
SimplyBiz chairman Ken Davy is to chair a group set up to take forward the FSA’s alternative assessment RDR proposals. It includes ex-CII president Peter Hales, Technical Connection joint managing director Tony Wickenden and Warwick Butchart Associates chairman Len Warwick.
The Council of Mortgage Lenders predicts a “bulge” in repossessions in the coming years, increasing from 46,000 to 53,000 this year, according to their fortnightly newsletter.
Jonathan Platt, Head of Fixed Income at Royal London Asset Management, looks at the three trends that his team see shaping bond markets this week. Read the article here: The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back […]
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Sims Financial Planning has become the third adviser acquisition this year for consolidator Fairstone. Three staff will join Fairstone, bringing funds under management to more than £90m along with total fee income of almost £500,000. Sims is the latest firm to be fully acquired by Fairstone after joining its downstream buyout programme in July 2015. […]
Aim listed advice and investment firm Harwood Wealth Management has continued its run of acquisitions with a deal to buy an Ascot-based retirement advice specialist. Harwood has acquired the assets of Plan65 for up to £1.56m depending on performance, with an initial payment of £810,000 coming out of Harwood’s existing cash reserve and the rest […]
Old Mutual Wealth is expecting to list on the London Stock Exchange as Quilter on 25 June, according to an investor prospectus, as the chief executive of parent company Old Mutual has resigned. Bruce Hemphill, who has been Old Mutual group chief executive since November 2015, resigned from the boards of Old Mutual Group and […]