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Deputy governor Paul Tucker cuts Bank of England term short

Paul Tucker: Leaving BoE in autumn

Bank of England deputy governor Paul Tucker is cutting short his five-year term to leave the organisation after missing out on the top job to Canadian central banker Mark Carney.

Tucker is set to leave in the autumn after Carney, who starts on 1 July, has settled into his new role. He is expected to move to the US and work in academia.

He was odds on favourite to take over from governor Sir Mervyn King in July but chancellor George Osborne made Carney his shock choice last November.

Tucker, who joined the Bank in 1980, was appointed deputy governor for financial stability in 2009 for a five-year term ending in February 2014.

He says: “It has been an extraordinary honour to serve at the Bank of England over the past 30 years. I am very proud that, through the Bank and the wider central banking community, I have been able to make a contribution to monetary and financial stability.”

Informed Choice managing director Martin Bamford says: “I think a fresh start for Mark Carney is important, as too many of the old team in place risks more of the same from the Bank of England.”


Bond fund outflows reach new highs as QE doubts persist

Bond funds across the globe saw outflows reach a new record high last week as investors continued to fret over the future pace of the US’ quantitative easing programme. Figures from EPFR Global show investors worldwide pulled a collective $14.45bn (£9.2bn) from fixed-income mandates in the week ending 12 June, with redemptions concentrated in high […]

Nicholls seen as good choice to take over from Bolton

Fidelity manager Dale Nicholls’ experience running the £743m Fidelity Pacific fund stand him in good stead to take over Anthony Bolton’s £550m Fidelity China Special Situations trust in April, say investment experts. Nicholls will take over the trust when Bolton retires in April 2014. The managers currently share 33 common names across their separate portfolios and both take a […]


Steve Webb attacks Labour’s £4.5bn women’s pension plan

Pensions minister Steve Webb has attacked Labour plans to bring more women into the single tier state pension, suggesting they would cost £4.5bn over a 30 year period.  Speaking in the House of Commons yesterday as part of the second reading of the pensions bill, Webb said Labour plans would be expensive and show a disregard for […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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