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Fidelity Investments appoints chief investment officer

Fidelity Investments has appointed Simon Fraser as chief investment officer UK and Europe.

Fraser who will be based in London will oversee a team of 78 UK and European portfolio managers and analysts.

Previously Fraser was Fidelity&#39s CIO for Asia/Pacific in Tokyo. His replacement in Tokyo is Robert Auld formerly the investment managers CIO for South East Asia in Hong Kong.

Fidelity president Barry Bateman says: &#34One of our greatest strengths is our global investment research process. Simon&#39s extensive experience across a number of international markets will enhance our understanding of these markets and help strengthen our money management expertise for the benefit of our customers around the world.&#34


PIA terminates membership of Waverley Unit Trust Management&#39s

The Personal Investment Authority has terminated the membership of Waverley Unit Trust Management.The termination followed a resolution for the firm based in Mount Street London to be wound up.The firm will no longer be authorised to conduct investment business regulated by the PIA.

Bradford & Bingley&#39s conversion could kill the mutual sector

The Treasury Select Committee inquiry into mutuality has been warned Bradford & Bingley&#39s proposed conversion will kill the mutual building society sector.Loughborough University professor of money and banking David Llewellyn warned the Committee investigating demutualisation the building society sector will be plunged into chaos and will not be able to compete with plcs if B&B […]

Isa sales top £4bn in first two months

Isa sales have topped £4bn in their first two months according to figures from the Treasury.The figure represents twice the amount saved in Peps and Tessas over the same period last year.The statistics reveal that nearly three quarters of the Isa sales went into cash Isas totalling £3.095bn compared to stocks and shares Isas including […]

Straw urges firms to sue after £2m City riot

Home Secretary Jack Straw is urging City firms to sue rioters who caused £2m of damage in the City of London last Friday as a deterrent to similar demonstrators.The City was brought to a standstill and plunged into chaos when 4,000 protesters turned violent during an anti-capitalist demonstration.Tension was further fuelled by some City brokers […]


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