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BoS to sell stake in Australian bank

The Bank of Scotland plans to sell its stake in the Bank of Western Australia following its soon to be completed merger with Halifax.

Australia&#39s fifth largest bank, St. George, began preliminary talks in June with BoS to buy its 55.8 per cent share of the bank for £900m. Preliminary discussions began in June.

BoS originally tried to sell its majority stake in Bank of Western Australia in an attempt to raise more money for its failed bid for NatWest in 1999, but ended up holding on to the bank because the prices offered were too low.

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Walther stepping down at Clerical

Clerical Medical chief executive Robert Walther is retiring before the end of the year and will be replaced by current managing director John Edwards. Walther has been overseeing the integration of Equitable Life with the Halifax group after Edwards was made managing director in February this year. Walther, 57, has been with Clerical since 1965 […]

Mortgage Express boards buy-to-let train

Mortgage Express has created a flexible buy-to-let mortgage that is fixed at 3.99 per cent until September 3, 2002.This mortgage is available for loans of up to 80 per cent of valuation and any number of properties can be bought within a total advance of £1m.After the fixed-rate period, the interest rate tracks at 1.75 […]

The Exchange rates ASU

The Exchange has unveiled an accident, sickness and unemployment mortgage protection plan called the standard easi protect plan that is available to IFAs who use its internet service.The plan is aimed at homeowners who want to protect their monthly mortgage repayments in case they are off work because of illness or injury, or if they […]

Who can beat the returns on with-profits?

If Ron Sandler, former chief executive of Lloyd&#39s of London, knows so much about investments, perhaps he can tell us how Lloyd&#39s of London have fared over the last 50 years with investing people&#39s money? What sort of returns have you made for your investors, Mr Sandler?And if Greig Middleton, a fund manager, is so […]

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Guide: reporting to the Pensions Regulator — what and when?

Johnson Fleming has published a step-by-step guide demonstrating the importance of record keeping and reporting, and how it can ensure you operate a successful scheme. The guide takes you through some key questions you need to ask and identifies the information you need to obtain. The topics include: why you need to keep records and the benefits of doing this; registering your scheme; what information you need to record to ensure you meet the Pensions Regulator’s requirements; and what items need to be recorded and when.

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