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Ex-FOS deputy Tony Boorman joins compliance firm

Tony_Boorman_FOS_2014

Former Financial Ombudsman Service deputy chief executive Tony Boorman has joined regulatory and compliance consulting firm Promontory Financial Group.

Boorman is taking up the role of senior adviser in the firm’s London office.

His initial focus will be working with clients facing a range of consumer protection issues, in particular relating to customer redress and complaints.

Boorman stepped down from his role at the FOS in November and took up a non-executive directorship at trade body the Peer-to-Peer Finance Association. He will retain this role alongside his full-time position at Promontory.

Boorman took on the role of interim FOS chief executive between January and July last year, following the departure of Natalie Ceeney.

Former FOS principal ombudsman and legal director Caroline Wayman was appointed chief executive of the organisation in July.

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Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.

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