Pru UK chief executive Mark Wood revealed his ruthless streak that earned him his “chopper” nickname at an industry dinner last week.Wood took offence to diary using an Axa pen to record his musings and smashed it to smithereens before re-placing it with a Pru biro.
Standard Life has taken what is understood to be a twenty per cent stake in the Tenet Group, as first reported in this week’s Money Marketing.The deal is thought to value Tenet at 86m and is Standard’s first investment in distribution. Tenet is the largest independently owned distributor in the UK. Norwich Union, Friends Provident […]
Skandia Investment Management
Protected Portfolio Investment
Chemists in the south of France and north of Italy were cleared out of Vaseline last week as pedalling PR Adrian Cammidge of Aegon pushed through with his troupe of cycling colleagues. The Cammidge under-carriage is said to have re-sembled a baboon in heat after the 1,600 km trek from Calais to San Remo, raising […]
F&C has recruited Nick Ford as director of its US smaller companies team. Ford joins F&C from Gartmore where he co-managed its US smaller companies fund. He will report to Robert Siddles, director, head of US smaller companies, joining the firm on August 15th. Ford will run the F&C’s US smaller companies fund with Siddles.
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]