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FundsNetwork boss Pat Shea to retire

pat shea fundsnetworkThe head of Fidelity FundsNetwork Pat Shea is to retire at the end of the year after six years in the role.

Shea has had a long career at Fidelity; before the FundsNetwork position he worked in a number of roles at Fidelity International including UK European customer services head and management positions in Taiwan and Hong Kong.

Recently, Shea has been overseeing FundsNetwork’s ongoing replatforming project to Bravura technology.

The Big Interview: FundsNetwork boss on why consolidation is inevitable

Fidelity International UK managing director Pete Horrell says: “I would like to convey my thanks and appreciation to Pat for his outstanding contribution to Fidelity and the industry during his long and illustrious career. I wish him a very happy retirement.”

Shea will help recruit his successor as stays at the company for the remainder of the year.


Wells Street Journal: Pensions Regulator lobs a rotten Nest egg

Much has been made of the Government’s taxpayer funded campaign encouraging voters to back remaining in the EU. The Leave side predictably went ballastic when details emerged of the 14-page booklet sent to every household in the UK at a cost of £9m. Leading Brexiteers Boris Johnson and Nigel Farage also presumably received the handy […]


True Potential to pay after pension transfer complaint

True Potential has been ordered to compensate a former client who was advised to transfer several pension pots he held into a self-invested personal pension. The Financial Ombudsman Service has upheld a complaint from Mr C in part because of the failure of True Potential to provide the level of service it promised. In late […]

EU rejects govt’s Brexit financial services plan

Europe will lose decision-making autonomy and be worse off under the terms outlined in last week’s Brexit whitepaper from Theresa May’s government, says the EU’s chief negotiator. The UK government scrapped its plans for mutual recognition of regulation in the whitepaper. The whitepaper instead proposes an equivalence model, similar to that used by Singapore and the […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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