View more on these topics

Hornby set to get HBOS back on track

Andy Hornby’s move to the HBOS hot seat is expected to stem the flow of high-profile departures.

Chief operating officer Hornby takes over as chief executive on July 31 replacing current incumbent James Crosby and it is hoped that he can inject some exuberance into the role.

HBOS has been rocked over recent months by a number of senior figures quitting subsidiaries of the financial serv- ices giant.

Most notably, Michael Bolton jumped ship from BM Solutions in October to join private equ- ity group Oakwood to launch a new lender this year.

Bolton took four senior staff with him and another eight left BM for Oakwood at the end of last year. In September, four directors of The Mortgage Business quit to join Deutsche Bank. He says: “He is young and dynamic and I think it is what HBOS need. It is a large com- pany and a good lender and perhaps they need a new broom to sweep through because people have not left the company for a laugh and they have realised that it is time to fight back a little bit.”

Fitzgerald, who predicts that HBOS will raid its rivals to replace the key staff lost, also claims that IFAs will welcome the change.

In addition to Hornby’s appointment, Royal Bank of Scotland head of retail banking Benny Higgins has been lined up to join the HBOS board and lead its retail businesses.

Hornby, who will work alongside Crosby over the next few months to ensure a smooth handover, says: “HBOS is in great shape and has exciting prospects.”


Britannic’s UK boutique goes live with opps fund

Britannic Asset Management has launched its UK Cartesian boutique run by former SVM managers David Stevenson and Andrew Kelly. The first fund to be launched will be the Cartesian UK opportunities fund, investing in 30-60 high conviction stocks with a bias to mid and small cap companies. Stevenson and Kelly believe mid and small cap […]

PAL opens up SSAS clinic for A-Day

Pensions Associates Limited is setting up an Ssas clinic for IFAs, employee benefit consultants and administrators to help them prepare for A-Day. The clinic will provide a review service for advisers and enable them to access the Aries Pension and Insurance Systems software package, which compares benefit entitlements and allowances before and after A-Day. Advisers […]

MEX rejig as Dawson retires

Tim Dawson is retiring after a 16-year stint at Mortgage Express, prompting a management reshuffle at the lender. Managing director Dawson is set to step down on March 31 but will not be replaced. Instead, the senior management team will report to parent company Bradford & Bingley lending director Chris Gillespie. Dawson, who joined MEX […]

Neptune aims for 4% yield from global income fund

Neptune Investment Management is set to introduce a global income fund in the last week of the Isa season to capitalise on growing investor interest in overseas income funds. The fund will be run by managing director and chief investment officer Robin Geffen and his team and will be weighted equally between 50 stocks across […]


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 advice.

    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