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Financial Services Ombudsman Scheme appoints chief operating officer

The Financial Services Ombudsman Scheme Board has appointed Ian Marshall as its chief operating officer.

Marshall&#39s responsibilities will include the integration of the eight financial service ombudsman schemes.

The integration is expected to be completed by the second quarter of year 2000.

He will also be responsible for the FSOS&#39s information technology, human resources and finance and will advise the board on a coherent charging structure.

Marshall is currently chief operating officer of Lendlease Europe. He will takeover the role in September.


Anyone can be a millionaire says Adam Smith Institute

Even the average person in Britain could become a millionaire when the retire according to a report from right wing think-tank the Adam Smith Institute.The report entitled &#39The Millionaire Fund&#39 says the average wage in Britain is currently £20,000 a year.If 12 per cent of this income were invested in a pension, the Institute has […]

Mercury&#39s offshore business up 55 per cent

Mercury Asset Management has posted a 55 per cent increase in sales of offshore funds for the six months to June 30.The fund manager attributes its success to performance of its funds within the Mercury Selected Trust, a sterling denominated offshore investment range, 85 per cent have achieved average or above average returns.MAM&#39s retail sales […]

Scottish Life says individual Stakeholder schemes are unviable

Scottish Life says it is not economically viable for it to offer stakeholder pensions under the current constraints outlined in the Department of Social Security Consultation brief.In its response to the brief the life office says: &#34At the maximum levels of charge and minimum premia outlined in the document, our calculations have led us to […]

Opra publishes minimum funding guide

The Occupational Pensions Regulatory Authority has published a guide to the minimum funding requirements for pension scheme trustees.The booklet, &#39A guide to the minimum funding requirement – a summary for pension scheme trustees&#39 details the basic requirements for funding under the Pensions Act 1995.It aims to provide a basic understanding of the issues involved in […]


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