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Henderson appoints Richard Gillingwater as chairman

Henderson Group has named Richard Gillingwater as its incoming chairman, following the announced departure of Rupert Pennant-Rea.

Gillingwater will become the asset manager’s chairman after it holds its annual general meeting in May.

In December, Pennant-Rea announced he will stand down after the meeting.

Gillingwater is non-executive chairman of development finance institution CDC Group and a senior independent director of insurer Hiscox, property development business Helical Bar and energy company SSE.

Until recently, he was dean of Cass Business School and, prior to this, spent time at Kleinwort Benson, BZW and Credit Suisse First Boston.

Gillingwater has also been chief executive and chairman of the Shareholder Executive and non-executive director of P&O, Debenhams, Tomkins, Qinetiq Group and Kidde.

Pennant-Rea says: “Henderson will be well served by having a person of Richard’s standing as its chairman and his experience will be a great asset to the company.”


Aviva holds annual with-profits bonuses as investment returns surge

Aviva has frozen or cut annual bonus rates for 1.5 million with-profits investors as the provider’s bond delivered annual returns of 5.5 per cent over a 10 year period. Annual bonus rates have been held at 2.5 per cent for bonds, 3 per cent for pensions and 2.75 per cent for stakeholder pensions. Annual bonuses […]

Henderson hires 6-strong US credit team from Delaware Investments

Henderson has expanded its fixed income team with the addition of Kevin Loome and five of his US credit specialists from Delaware Investments. Henderson says the team, which joined on 4 February, will work across a number of its credit, high yield and investment grade strategies. In addition to Loome, Henderson has appointed Charles Devereux, […]


Ian McKenna: Badly executed automated advice will damage consumer confidence

It is sad but true that I regularly spend a Saturday morning surfing the web looking for creative new financial advice services in the UK and internationally. Last July, I came across what was being presented as an innovative new online advice service. After spending an hour exploring various elements I was seriously disappointed not […]


Adviser anger over FSA admission that it’s easier to take on the ‘little guys’

Advisers have reacted with anger to the FSA’s admission it is easier for the regulator to go after the “little guys” rather than big banks. Speaking to the Parliamentary Commission on Banking Standards last week, FSA head of enforcement Tracey McDermott rejected suggestions that the FSA lacks integrity and is too close to the banks. […]

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Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.


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