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HBOS shrugs off RBS lending challenge

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 transfers first tranche of F&C funds

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 […]

Talking over turner

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.

Called to the bar

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 makes 17.4m offer for Savoy Asset Management

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 […]

A tough start for 2017 consensus trades

By Kacper Brzezniak Every year, starting around November, investment banks (and fund managers) begin to drip out their outlooks for currencies, rates, economies, you name it, for the following year. The consensus has been largely wrong for the past four or five years; those multiple rate hikes never came, the bond market is still alive […]


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