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FSA announces new director

The FSA has appointed Lesley Titcomb as director of its regulatory transactions division.
Titcomb joined the Securities and Investments Board in 1994 and since then has held a wide range of posts covering both regulatory and operational issues at both the SIB and FSA.
She will report to managing director of the regulatory services business unit David Kenmir.
The director level vacancy arose following the creation of the financial crime and intelligence division announced recently by chief executive John Tiner.
Tiner says: “I am delighted to welcome Lesley to the director team. She brings with her a wealth of regulatory experience including spending the last 12 months working with me and the Executive Committee in developing the strategy for the organisation and building on FSA’s move to more principles based regulation”


Royal London sales rise by 10%

Royal London Group saw new life and pension business rise by 10 per cent in 2006, growing from 1.8bn in 2005 to 1.99bn, on a present value of new business premiums basis. Bright Grey’s new business volumes fell by 6 per cent from 163m in 2005 to 154m in 2006.

Average lifetime loan down in 2006

The number of new lifetime mortgages rose last year but the value of new lending fell, says the Council of Mortgage Lenders.It says this reflects a drop in the size of the average new loan from around £45,000 in 2005 to £41,000 in 2006.In the fourth quarter, the average new loan was only £38,400 – […]

Final-salary changes confirmed by insurer

Standard Life has confirmed plans to switch staff with final-salary pension schemes to schemes based on their average salary to reduce its pension deficit.The changes to the defined-benefit scheme, which closed to new members in November 2004, will affect around 7,000 staff.Many have reacted angrily to the proposals, originally mooted last November, with Amicus currently […]

Sweetness and plight

Recommending incentives to transfer out of DB schemes is a risky business.

India rate cut – more to come?

Kunal Desai, Head of Indian Equities at Neptune Investment Management India’s stockmarket rallied this week following news that the central bank was cutting interest rates more aggressively than expected. Commenting on the rate cuts and what this means for India’s economic growth, Kunal Desai notes that there were two important details in the announcement that have […]


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