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Countrywide Assured Sees Profits Fall

Countrywide Assured estate agencies interim results show that turnover for the group fell to £282.3 million from £311.0 million in 2002. Pre tax profit fell to £21.9 million from £35.8 million and while the average house sale price rose 15 per cent the number of houses sold fell 16 per cent. However Countrywide says it had a record pipeline of £63 million of commission on sales awaiting exchange and expects activity to pick up for the rest of the year.

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Future changing strategy as it loses fourth manager

Future Mortgages has been hit by yet another senior management departure after communications manager Richard Hurst quit this week.The specialist lender has seen a total shake-up of its management structure over the past five months, with chief executive Mark Abbot leaving in March, sales & marketing director Brian Pitt in April and general manager in […]

Old Mutual loses bond star to M&G

Old Mutual&#39s top-performing corporate bond fund manager Richard Woolnough is quitting to join M&G&#39s fixed income team in the new year.Woolnough, the leading corporate bond fund manager of the past three years, will run a new fund that M&G is launching in the first quarter of 2004.The fund, which Woolnough will help develop, will sit […]

A bolt from the blue sky

How appropriate for the FSA to be indulging in blue-sky thinking in the middle of a heatwave.It is thinking of adjusting how advisers are categorised perhaps based on the time of life of their clients or perhaps by speciality.The sighs of exasperation from those IFAs still in the country are almost audible.In this issue, a […]

Bank is fined over laundering rules

The FSA has fined Northern Ireland-based Northern Bank £1.25m for breaching money-laundering rules.There is no evidence that any money was laundered through branches of the Nat-ional Australia Bank subsidiary but it failed in its requirement to ensure that clients were who they claimed to be.Between December 2001 and September 2002, it did not obtain “know […]

Guide

Guide: what you need to consider for your auto-enrolment project

In this guide, Johnson Fleming reveals what items you need to understand to gauge the impact of auto-enrolment on your business. The guide focuses on: the impact that your auto-enrolment scheme will have on you; assessing your workforce; understanding your staging date; reviewing your current provision; and modelling contribution levels and costs.

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