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Henderson locks in key Gartmore managers in £335m takeover

Henderson has agreed lock-in terms with a number of Gartmore managers following its proposed £335m takeover.

The Anglo-Australian group says the portfolio managers who run 84per cemt of Gartmore’s current assets under management, have agreed to remain with the combined group post acquisition, which is expected to be completed
by the end of the first quarter.

The managers who have agreed to join Henderson include John Bennett, Chris Palmer, Chris Burvill, Ben Wallace, Charles Awdry, Adam McConkey, Tony Lanning and Luke Newman

Gartmore suffered £4.8 billion of redemptions in the final quarter of 2010, following the sudden retirement announcement of its star manager Roger Guy.

Of those £4.8 billion of outflows, £3.1 billion was linked to Guy’s former European Large Cap team.

At January 7, 2011, Henderson estimates Gartmore had £16.5 billion of assets under management.


TMW launches 4.69% two-year fixed rate mortgage

The Mortgage Works has launched a 4.69 per cent two-year fixed rate for buy-to-let customers and has reduced the rates on a number of its products by up to 0.55 per cent. The new mortgage is available up to 75 per cent loan-to-value with a 2.5 per cent arrangement fee. It has also introduced a […]

TSC to press Barclays’ Diamond to give up bonus

Barclays chief executive Bob Diamond will be asked to forego his bonus during his appearance at the Treasury select committee tomorrow, according to TSC member and Labour MP John Mann. Mann told the Observer the committee will press Diamond to give up his bonus for 2010 and ask “tough questions” about the bank’s remuneration. He […]

Butler moves to join Resolution

Pat Butler has joined Resolution as a partner from McKinsey & Co, where he was a senior director.


FSA’s RDR data built on hills of sand

I find it revealing that when the FSA seeks to use research in support of its proposals, it conveniently ignores the alternative interpretations that are frequently placed on the same data by the researchers. One example is the lack of industry trust that Callum McCarthy and others have frequently alluded to. In 2008, the FSA […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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