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Clydesdale IM business acquired by Tilney

Tilney Investment Management is taking on the management of Clydesdale Banks discretionary investment management business.

The sale, for an undisclosed sum, is due to complete this spring and will see Tilney becoming the preferred provider of discretionary services to Clydesdales customers. The deal will attract 1500 new clients with investment worth 300m, taking Tilneys assets under management in Scotland to 1.5bn and overall to 6bn.

Tilney chief executive David Campbell says: This deal further demonstrates our substantial commitment to Scotland, following our acquisition of Edinburgh Fund Managers private clients subsidiary in June, 2003.


SimplyBiz claims regulator has big-firm bias

SimplyBiz has accused the FSA of being biased towards bigger adviser firms after what it calls the regulator’s lenient approach to recent capital adequacy problems at Millfield and Berkeley Independent Advisers. It has written to the regulator asking why bigger firms enjoy preferential terms on minimum turnover. Compliance services manager Tim Grey says this is […]

Fund manager leaving Templeton

Franklin Templeton growth fund manager Ken Cox is understood to be leaving the firm due to ill health. Cox has run the 144m fund since 2001 and returned 63 per cent in the three years to January.

Gareth Marr steps down as ceo of Origen

Gareth Marr is stepping down as chief executive of Origen with immediate effect.Having successfully recovered from cancer last year Marr says he is reviewing his personal priorities and as such will be unable to fulfil his role of ceo.Marr was instrumental in the creation and development of Origen which brought together five Aegon-owned IFA firms […]

Downing VCT takes cautious approach

Downing is introducing a further two venture capital trusts before the April deadline, including a protected product aimed at more cautious investors. It hopes to attract 40m for the Downing VCT4 and Protected 5 VCT. The Protected 5 VCT will be more cautiously managed and focus on capital preservation, with wind-up expected in around five […]


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