View more on these topics

Capita leads chase to buy Bluefin

Capita has emerged as the favourite to buy Bluefin Advisory Services, according to The Sunday Times.

The report says that Capita has seen off interest in Axa’s advice business from several private equity bidders.

Axa confirmed it had appointed Fenchurch Advisory Partners last November to assist in the sale of Bluefin Advisory Services. Bluefin Insurance Group was not part of this review. Bluefin has more than 2,000 employees across 60 offices in the UK.

Initial reports said the business could be sold off for up to £100m. However The Sunday Times article says the business could fetch between £50m and £70m.

Recommended

Funding strain could see dual pricing return

The FSA has warned funding pressures in the mortgage market could mark a return to aggressive dual-pricing strategies being adopted by lenders. In its retail conduct risk outlook paper, published this week, the FSA says weak economic growth, falling house prices and reduced levels of mortgage funding combined with fears of unemployment and tight credit […]

Tony Wickenden: CGT entrepreneurs’ relief- weighing up relevance

Last week, I started to look at how entrepreneurs’ relief can be affected by the investment of company money on deposit, especially as the financial pages are regularly telling us about the “cash hoarding” of companies (admittedly PLCs – but the same phenomenon could be relevant for some successful SMEs) and I thought it was […]

2

UK inflation falls to 3.4%

The UK consumer prices index has fallen to 3.4 per cent in February, according to the Office for National Statistics. The consumer prices index is down 0.2 per cent from 3.6 per cent in January. The retail prices index fell to 3.7 per cent, from 3.9 per cent in January. Inflation has fallen markedly since […]

Heath-Lay to take over at B&CE as Griffiths retires

B&CE chief executive Brian Griffiths is retiring in September and will be replaced by director of finance and strategic delivery Patrick Heath-Lay. Chairman Sir John Chilcot says: “Brian has led B&CE for the past 10 years through challenging times within the financial services industry. “We have appointed a successor to the role of chief executive […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 7 comments at the moment, we would love to hear your opinion too.

  1. Capita needs to forget acquisitions and pay its responsibilities for Arch Cru!

  2. Agree, if they have £75m to spare they they should put it in the pot, which is more than some AC clients will have to use!!

  3. Like others thought that Capita had no money over & above the donation that they were giving for non admission of liability! Rats & Smell come to mind, Funny that Mr Sants is exiting stage left!

  4. Has anyone considered that the division of Capita which is looking to acquire Bluefin is unlikely to be Capita FM? If so, then the Arch Cru argument/comments are entirely irrelevant.

  5. Capita hived off the ACD liability in it’s business within Capita FM, whilst for marketing purposes they gave statements that Capita as ACD had the full backing of the Capita group, this is not the case. The FSA report of the 13th March 2012 on Host ACD’s refers to lack of Capital and supervision within Host ACD’s following recent investigations. As part of the due dilligence process an adviser should now not only consider the attributes of the fund/manager but must also do sufficient due dilligence on the ACD otherwise the adviser may become liable for losses and off mandate investments made by the fund manager.

  6. If the division of Capita which is looking to acquire Bluefin is not Capita FM, then the Arch Cru argument/comments are entirely irrelevant.

Leave a comment