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CGNU reshuffle at Morley Fund Management

Giant life office CGNU has made several senior appointments within its

investment management business Morley Fund Management.

They follow on from the appointment of Keith Jones as managing director of MFM.

The new head of investment is Gerard Quirke, who was formerly managing

director of Norwich Union Investment Funds. In his new role, he has

responsibility for the development of the retail fund business and has a

place on the board

MFM has also appointed Peter Rains as head of fixed income, Mike Bishop as

head of pan-European equities and Andrew Hitchings as head of international


Rains was previously MFM head of global bonds and treasury while Bishop

was head of Norwich Union Investment Management European equities fund

management and research teams. Hitchings has moved from MFM&#39s Singapore


All the positions will be based in London.

The property front office will also move to London as part of the merger

of CGNU&#39s investment management business.

The office includes the property investment fund management and property

surveying activities. The decision affects Norwich-based investment fund

managers and surveyors and members of the NUIM finance team dedicated to


Life offices CGU and Norwich Union announced they would be merging at the

end of February.


Euro rights may double the cost of complaints

IFAs could see the cost of dealing with complaints double when a Europeandirective becomes UK law.The LIA says the cost of the complaint procedure could soar to £1,500because the European Convention of Human Rights gives everyone the right toa hearing.It says IFAs will have to set up and pay for the infrastructure to hearcomplaints. The […]

Julian Gibbs

Over the longer term, well-managed smaller companies investment trusts andunit trusts usually outperform their bigger company equivalents.Over the past five years, UK smaller companies unit trusts have gone up onaverage by 142 per cent against a rise of 103 per cent for the UK allcompanies sector and 79 per cent for the UK equity income […]

Japan bull runs out of steam

Japan has been a source of good profits for investors in the past year.But it has all come crashing down again in the latest of manydisappointments for investors, who have waited 10 years for Japan&#39sstockmarket to recover.One wonders how long it will take for the Nikkei to get back up to 39,000,the level reached at […]

Advisers must urge clients to support Standard mutuality

With postal votes due in by June 23, time is running out for IFAs who wantto influence the future of Standard Life.The giant Scottish mutual is all too well aware of this and has sent outsample letters to intermediaries urging them to advocate a &#39No&#39 vote totheir clients.For IFAs themselves, and for UK consumers generally, […]


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