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 FCA should not be under the illusion a ban on contingent charging will necessarily improve the quality of advice, an adviser trade body has said. The Personal Investment Management and Financial Advice Association warns any contingent charging ban could have unforeseen consequences. According to Pimfa removing contingent charging could push consumers to either become […]
Michael Klimes looks at the FCA’s increasingly tough stance on Sipp providers and unregulated investments
Technology provider Moneyhub will now use Intelliflo’s application programming interface for its advisers. Integration onto the API will allow for advisers to access real-time information of client’s managed pensions and investments. Advisers will also be able to link investments they manage and see clients’ spending and savings patterns. The Big Interview: Moneyhub chief executive on […]