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GMAC appoints asset sales head

Sub-prime lender GMAC, part of the financial services arm of General Motors, is appointing Steve Khan as head of asset sales.

Khan joins GMAC from Platform Homeloans where he was head of marketing. He was with Private Label from 1992 to 1999 after three years with UCB Home Loans.

GMAC chief executive Colin Duggleby says: “This is a newly created role that will complement GMAC&#39s specialist funding strategies and will ensure that we have an even greater market presence within both the mortgage and capital markets arenas.”


Smelling a rat

The Diary has noticed that the FSA is sniffing around exterminator Rentokil, asking questions about it buying back 15 million shares shortly before an upbeat trading announcement. It may be a wee bit harsh to say it takes one to know one but, really, who better to look into suspicious dealings at a pest controller […]

ScotLife payouts rise despite lower terminal bonuses

Scottish Life is increasing with-profits payouts following the transfer ofits business to new owner Royal London although terminal bonuses havefallen. The transfer was completed on July 1. ScotLife increased bonuses in theperiod before the transfer to give fair treatment to policies maturingahead of completion of the deal. Terminal bonuses are lower than their pre-completion levels […]

&#39Higher tax may lead to Scots exodus&#39

Scottish financial services companies could move south of the border if a tartan tax is introduced to pay for improved public services, a study warns. The research, carried out by the Centre for Economics and Business Research, predicts that more comprehensive provision of long-term care, student funding and teachers&#39 pay in Scotland will precipitate a […]

Friends crosses IFA after pledge on &#39poaching&#39

Friends Provident is under fire again for trying to poach IFA clients after it had given an adviser written reassurance that it would not cross-sell. Swansea IFA Keith Lewis of Hartley Great-batch & Co says he had received a letter earlier this year from a Friends head of sales stating that mailing lists were cross-referred […]


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