HBOS mortgage managing director Charles Haresnape is confident the firm will retain its position as the UK’s biggest lender despite the anticipated push from RBS this year.Haresnape says the restructure at RBS is a sign that it is playing catch-up with HBOS. He says: “For anyone to rep-lace HBOS at the top, you would need to be a leader in different niches and RBS will need to introduce more niche areas.” Brentchase mortgage specialist Michael Fitzgerald says: “HBOS has had its problems after losing a lot of staff but I can see them fighting back. That will make it harder for RBS.” Haresnape says HBOS will make a push into the self-emp-loyed mortgage sector this year.
Britannic Asset Management has successfully completed the transfer of the first tranche of Phoenix funds from F&C Asset Management, bringing its total assets under management to 30bn.This follows the merger, originally announced in June 2005, of Britannic Group plc, BAMs parent company, with Resolution Ltd. The value of assets brought across so far is 13.2 […]
Scottish Widows head of pensions market development Ian Naismith says there needs to be a national pension debate to discuss the Pensions Commission’s proposals.
The Diary hears a shocking rumour that cannot possibly be true from Edinburgh where Scottish Widows is said to have become so embarrassed with the drinking exploits of its staff in Edinburgh that it is to open its own private bar to keep its marauding troops away from the public. The company has been granted […]
Syndicate Asset Management has made a 17.4m offer for Savoy Asset Management. The offer is for 178.1p in cash for each Savoy ordinary share, representing a premium of approximately 6 per cent on the closing price of 168p per Savoy share on January 25, 2006. Savoy was formed in 1997 and has 1.1bn in assets […]
Watch Rob Burnett, manager of the Neptune European Opportunities Fund, discuss the Greek bailout deal and its potential implications for European equities. In the video, Rob discusses: Why, with the Greek crisis receding, markets can now focus on Europe’s strong fundamentals The resilience of European markets and why the recovery is on a solid footing […]
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The Government should make it easier for advisers to sell products that blend income drawdown with insurance to meet future care costs, according to former pensions minister Steve Webb. A paper published today by Royal London calls on the Government to introduce policy changes which allow new products to be created that pay for long-term […]
Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]