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Genpact acquires OpenWealth platform

Technology firm Genpact has acquired Citibank’s OpenWealth platform, the business that powers both Aviva’s advised platform and Nucleus. Genpact purchased the US OpenWealth platform from Citibank earlier this year and now adds the UK business. As part of the deal Genpact will open a “centre of excellence” in Glasgow with a staff of 140. Genpact […]

Aberdeen fund merger rejected by shareholders

The proposed merger of two Aberdeen funds has been rejected by shareholders as they didn’t feel the funds were complementary. Aberdeen proposed merging the Multi-Manager Diversity fund into the Multi-Manager Diversified Assets Portfolio and the UK Flexible Strategy fund into the Multi-Asset fund, but shareholders rejected both. Aberdeen has succeeded in merging 26 other funds recently, […]

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SFO to question ex-Tesco boss over accounting black hole

Former Tesco chief executive Philip Clarke is set to be questioned by the Serious Fraud Office over the company’s £250m accounting black hole. Clarke will be quizzed over how the supermarket group overstated its half-year profit forecast by £250m, which was revealed in October 2014, Bloomberg reports. Clarke left Tesco in July 2014 , handing […]

British Friendly hires LV= protection boss

British Friendly Society has hired LV= managing director for protection Iain Clark as marketing and distribution director. Clark will join the company in the new role in September. Prior to LV=, where he has worked for the past four years, Clark has also held sales director roles at Legal & General and PruProtect. British Friendly […]

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