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Ex-Virgin and Egg chiefs to run letting agency

Shepherd Direct has set up a letting agency, Direct Lettings, to be run by former Virgin Money UK managing director Rob Clifford and former Egg chief executive Paul Gratton.

Shepherd Direct, which owns MoneyQuest and Direct Valuations, has appointed ex-Connells corporate services director Paul Staley as managing director.

Clifford, who is now managing director of introducer firm If I Were You, Shepherd Direct executive chairman Gratton and MoneyQuest managing director Simon Jackson have been appointed directors.

The firm acquired portfolios prior to its launch and currently has around 2,000 residential properties under management, mainly in Scotland.

Clifford says: “We have a number of investments and interests in various businesses, which are all associated with the UK property market, so there was an inevitability that we would enter the letting sector.”


US announces delay to introduction of Fatca

The US Treasury and the Internal Revenue Service have announced plans to delay reporting requirements to comply with the Foreign Account Tax Compliance Act until 2014. Fatca requires any foreign financial institution to sign an agreement that they will provide the IRS with information on any US taxpayers they deal with. A 30 per cent […]

Threadneedle appoints head of multi-asset

Threadneedle Investments has appointed Toby Nangle as head of multi-asset. Nangle will work closely with the existing asset allocation team in a bid to bolster the range and improve the existing franchise. He will work alongside head of managed funds Alex Lyle. Nangle was a director of both the multi asset and fixed income teams […]

Regulator moved quickly to reject report’s proposals

The FSA was quick to reject calls from the Treasury select committee to delay the implementation of the retail distribution review by 12 months and offer a softening of the cliff-edge deadline for experienced advisers. The TSC report, released over the weekend, backs the FSA’s plans to increase qualification standards and remove commission bias but […]

Default lines could bring a shock

The markets are a little more cheerful these days. Once again, 6,000 on the FTSE 100 is the object of regular flirtation for investors. We are hardly in breaking-away mood but at least some calm has returned. There was even a flurry of excitement last week when the European Central Bank raised rates. Our own […]


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