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Goldman Sachs eyes Kensington bid

Goldman Sachs is reportedly among the pack of bidders for Kensington, Investec’s UK intermediary mortgage arm.

The Sunday Times reports Goldman Sachs is the lead bidder among several firms circling Kensington, which include challenger banks Virgin Money and Metro Bank, and buy-to-let lender Paragon. The newspaper says several private equity firms are also interested in the business.

Fenchurch Advisory has been appointed to manage the sale, codenamed Project Koala.

The Sunday Times says Kensington is expected to make around £35m in profit for the year to the end of March, and in total has advanced close to £4bn in mortgage lending.

Investec announced last month it was looking to sell Kensington after receiving “certain expressions of interest”.



FCA: Lenders have ‘more work to do’ on arrears handling

The Financial Conduct Auth-ority says mortgage lenders must do more to ensure that front-line staff treat customers in arrears fairly. In a thematic review of lenders’ arrears management and forbearance policies, published this week, the regulator says arrears management has improved since its previous review in 2009 but some areas of concern remain. The FCA […]


Govt to force fund managers to disclose all pension charges

The Government is to force fund managers to provide a full breakdown of all charges related to defined-contribution workplace pensions. In a written ministerial statement published this week, pensions minister Steve Webb confirmed that the Government will introduce new measures requiring transaction charges in pension schemes to be disclosed. Webb said: “I am pleased to […]


Lloyds tops FOS complaints data in second half of 2013

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Chris Smallwood: Time to embrace the restricted advice label

When I joined the industry in 1988, the UK boasted more than 250,000 financial advisers and polarisation had just been introduced. Over the years there has been one constant – that of independence. But with the alternative to independence having variously been called ‘tied’, ‘multi-tied’ and more recently ‘restricted’, is it any wonder the consumer is […]

Artemis Monthly Distribution Fund: positioning and outlook

Managers James Foster and Jacob de Tusch-Lec outline the fund’s investment approach and discuss current investment themes and outlook for the bond and equity markets. As James and Jacob confirm, the Artemis Monthly Distribution Fund’s aim is to generate an income from both equities and bonds. They explain their investment approach in each asset class, the sectors where they are […]


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