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Ex-FSA chair Howard Davies to succeed Philip Hampton as RBS chairman

The Royal Bank of Scotland has confirmed former FSA chairman Howard Davies will succeed Philip Hampton as chairman later this year.

Davies, who was also previously deputy governor of the Bank of England and director general of the Confederation of British Industry, will join the RBS board at the end of June and assume the role of chairman on 1 September 2015.

Davies is currently chairman of Phoenix Group, a non-executive director of Prudential and a non-executive director of Morgan Stanley. He will step down from his roles at Phoenix and Morgan Stanley.

Davies says: “RBS occupies a unique position and I will take over the reins from Philip at an exciting time and am grateful to him for the stewardship he has provided to RBS. 

“Ross McEwan has set out a very clear strategy to create the number one bank in the UK for trust, customer service and advocacy. I look forward to working closely with him in order to achieve that ambition.”


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FCA fines Aviva Investors £17.6m over conflicts of interest failings

The FCA has fined Aviva Investors Global Services £17.6m for systems and controls failings that meant it failed to manage conflicts of interest fairly. The regulator says these weaknesses led to £132m in compensation being paid to ensure that none of the funds Aviva Investors managed was adversely impacted. From 20 August 2005 to 30 […]

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Rising from the ashes: Will annuities recover from Osborne’s Budget bombshell?

Partnership, the insurer whose share price was savaged in the wake of Chancellor George Osborne’s Budget bombshell, is predicting a dramatic turnaround in annuity sales over the next two years.  Despite the seismic impact of the pension freedoms announcement, the rapid growth of pension savings will push the annuities market to new highs, experts predict. […]

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Strawberry Invest launches managed portfolios service

Direct-to-consumer platform Strawberry Invest has launched a managed portfolios service which investors can access provided they pay in £100 a month. The firm says its new ‘Make it Easy’ offering is designed to help simplify investment by offering an “all-in-one, streamlined customer experience”. It has chosen Architas BirthStar® Target Date funds for the service, where […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]


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