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Former Bank of England official and Guardian journalist replaces Johnson

A former Bank of England official and Guardian journalist Ruth Kelly has been appointed as Treasury economic secretary replacing Melanie Johnson.

Kelly is one of several up and coming women promoted to junior ministerial positions.

Kelly was formerly a parliamentary private secretary to Nick Brown when he was Agriculture Secretary. She is responsible for the financial services industry and is expected to be the Government contact in the polarisation and disclosure reviews and the Myners-style review into the retail financial services.

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SLI global chief Hay is joining Aegon as CIO

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FSA reveals its regulation by risk regime

The FSA confirmed at this year&#39s PIMS conference that most IFA firms will be in the FSA&#39s lowest-risk category following N2, meaning they will require less attention. After N2, the FSA will bring all IFAs under a new investment firms division and ranked A to D on a risk scale. Firms with a turnover of […]

Self-cert mortgage in the Pink

Pink Home Loans has introduced the exclusive self-cert mortgage.Aimed at self-employed people who have had trouble getting a mortgage in the past because of difficulties in proving their income, it has a discount of 2.65 per cent for the first six months of the mortgage, giving it a payable rate of 3.98 per cent for […]

Overwhelming vote for Friends to demutualise

Friends Provident has become the latest mutual to get the go-ahead to demutualise after members voted massively in favour of its flotation proposal. The life office is set to float on the Stock Exchange on July 9. Each member will be given at least 200 shares which could be worth between £470 and £540 on […]

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