View more on these topics

Hill Samuel exodus goes on as its Euro star quits

Hill Samuel Asset Management suffered another body blow this week, when its head of pan-European equities quitto become chief investment officer for Rothschild Asset Management.

David Kiddie is the second of HSAM&#39s star fund managers to jump ship, following US team chief Katherine Garrett-Cox earlier this month. He takes up his position in September.

All eyes are now focused on HSAM&#39s last star Ashton Bradbury, who manages the UK smaller companies fund and has also been rumoured to be leaving.

Kiddie managed a team of 30 fund managers at HSAM, controlling 26bn of funds across both UK and European markets. The rest of the European team are also expected to leave in the next few weeks. The latest departure comes after a week in which Scottish Widows announced the new name of the merged asset management company with HSAM.

However, the new name – Scottish Widows Investment Partnership – will be coolly received by some HSAM employees who claim the merger has been more of a Widows walkover than a partnership.

Scottish Widows maintained this week that the new business will have around 100 fund managers, of which around 50 will be from Swim, up to 30 from HSAM and the rest from elsewhere.

Scottish Widows head of communications Alan Young says: “We announced the heads of our new teams in February so this is not news. It is not what people have done in the past, it is what they will do in the future.”

Director of IFA Plan Invest Michael Owen said: “The new company is literally going to be starting from scratch. If you are an IFA you have got nothing to get hold of, you have got to take everything on trust.”


Family planning to place AGM news on the net

Family Assurance is claiming to be the first friendly society to post news from its agm on the internet.The Brighton-based society expects to attract 300 members to its agm but is looking to cast its net wider by putting the information on the web.The rest of its 600,000 members unable to attend in person will […]

CGU buys stake in Spanish life office

CGU announced on the weekend a £200m bancassurance deal with Bancaja, the Spanish savings bank.The acquisition will give CGU a 50 per cent stake in the Spanish bank&#39s life insurance subsidiary Aseval, including management control.The move further increase CGU&#39s presence on the continent. The life office is involved in a merger with Norwich Union, pending […]

Norwich & Peterboro&#39 flexi mortgage cuts the strings

Norwich and Peterborough Building Society is launching a flexible mortgage with no redemption penalties.It offers a 1 per cent discount off the standard variable rate of 7.44 per cent.Maximum loan to value is 75 per cent. There is no arrangement fee.Overpayments can be made immediately and then used to fund payment holidays or underpayments.Products and […]

Will clicks buy the bricks?

Should the Bank of England raise interest rates?PH: Inflation is very low at present – less than 2 per cent when you strip away the effect of mortgage repayments.The aim of the Government has been to keep inflation under control and they have managed to achieve this by manipulating the base rate.A further interest rate […]

Tax-free gains? That can’t be right, can it?

When he was Chancellor of the Exchequer, George Osborne made several changes to the way in which income is taxed. Personal allowances were increased significantly above the rate of inflation; a starting rate band was introduced for savings income and, with effect from 6 April 2015, this was assessed at 0 per cent. In addition, […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm