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Fortis chief exec’s future in doubt

The board of Fortis is meeting in Brussels today to discuss the future of its chief executive Jean-Paul Votron, according to press reports.

Reports suggest the meeting will discuss Votron’s future within the bank, rather than to discuss the public reaction to its recent solvency measures announced on June 26, as stated by the bank.

It is thought that Votron will be ousted from the bank following the bank’s recent problems.

Fortis refused to comment.


Market dips into bear territory

The UK officially dipped into a bear market this week after the FTSE 100 index declined by more than 20 per cent since its peak last autumn.

Building bridges

Having spent most of last week with various IFA firms and their clients, I am optimistic about the future of independent financial advice. Zurich estimates that around 27 million people in the UK do not use a financial adviser and it is this huge chunk of the population that may be suited to the proposed money guidance or sales routes to financial security. But two million of this group are deemed high-net-worth and common sense dictates that they should seek independent financial advice – rare is the individual who can take a DIY approach to his financial affairs and be 100 per cent effective.

Scheme pays explained

By Fiona Hanrahan, senior product insight and technical support analyst We’ve received lots of queries on scheme pays and when it can be used. This article explains how it works and the conditions which apply. What is ‘scheme pays’? If an individual exceeds the annual allowance (AA) and an AA tax charge is due, they […]


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