View more on these topics

Building Societies get together to fight off Hardern

Seven Building Societies are meeting to share information about identical demutualisation proposals they have received from self-proclaimed carpetbagger Michael Hardern.


Harden who has failed to be elected to the Nationwide Building Society for two years in a row is calling for the companies&#39 board of directors to take immediate steps to convert to plc status.


Coventry Building Society has confirmed that Hardern has failed to achieve the requisite level of support under its rules.


The other six societies are continuing to check the validity of the applications.


Building Societies&#39 Association director general Adrian Coles says: &#34The building societies targeted by Hardern are meeting to share relevant information. The boards of all the societies targeted are fully committed to their mutual status.&#34

Recommended

St Paul buys L&E&#39s PI business from Norwich Union

St. Paul International is buying London & Edinburgh&#39s IFA professional indemnity business from Norwich Union.Norwich Union acquired the £9m portfolio from London & Edinburgh Insurance in October 1998.St. Paul has purchased the right to invite renewal of policies as they fall due and will take over the handling of run-off claims.St. Paul chief executive officer […]

IFAs more optimistic about business according to PIMS

IFAs are feeling more optimistic about prospects for their businesses compared to six months ago according to the PIMS quarterly survey.The survey found that 39 per cent of IFAs feel more optimistic now than they did in June 1998. Only 3 per cent are less optimistic about business prospects.It found that 58 per cent of […]

Mercantile launches new capped rate mortgage

Mercantile Building Society is launching a new mortgage capped until May 2002.The interest rate will be capped at 6.39 per cent for those paying a 25 per cent deposit and 6.59 per cent for those paying the minimum 5 per cent deposit.The scheme offers free unemployment insurance for 12 months and any high risk charge […]

AITC appoints new directors

The Association of Investment Trust Companies has appointed two independent directors to its executive committee.It has appointed Dick Barfield, a former chief investment manager with Standard Life Assurance Company, and David Price, formerly deputy chairman of Mercury Asset Management.Barfield is a director of the Baillie Gifford Japan Trust and Price is on the board of […]

Time to stop the salami slicing on tax relief

Steve Webb  – Director of Policy and External Communications As the Autumn Statement approaches, Steve Webb calls for the Government to stop tinkering with tax relief. Twice a year, in the run-up to the Spring Budget and the Autumn Statement, we face a torrent of speculation as to what changes the Chancellor might make to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment