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FSCS announces Interim Chief Executive

The Financial Services Compensation Scheme has announced the appointment of Ron Devlin, OBE, as interim chief executive, following the departure of Suzanne McCarthy at the end of May.

Devlin joined the FSCS in February 2001 as a senior adviser providing advice and support to the investment claims teams and undertaking projects for the chief executive.

Prior to this, Devlin was director of pensions at the FSA. McCarthy will become chief executive of the Office of Rail Regulation in July 2004.

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Strong dollar can be a powerful driver of UK dividend growth in 2015

By Robin Geffen, fund manager and CEO 

This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar. 

In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.

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