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HSBC chairman takes Govt trade and investment role

Prime Minister David Cameron has announced that HSBC chairman Stephen Green will take on the role as minister of state for trade and investment.

Green is quitting his position as chairman for the unpaid role, where he has been tasked with leading the Government’s effort to establish the UK as the most attractive location for international investment and to drive growth in UK export.

He has also quit his role as chairman of the British Bankers’ Association, with Barclays group chairman Marcus Agius taking on the role.

Green will report to both the secretary of state for business and the foreign secretary. Prime Minister David Cameron says the appointment shows the Government’s dedication to developing international relationships and boosting British businesses abroad.

On the appointment of Agius to the BBA, chief executive Angela Knight says: “The banking industry is facing fresh challenges as it works to play its full part in the UK’s financial recovery. Marcus Agius, in his role as Barclays’ group chairman, has helped the international banking giant grow and successfully weather the last three year’s financial turbulence, brings a sound understanding of the City, the key issues facing the industry and an international perspective which reflects well the BBA’s broad global membership.”


Fund stars to get lock-in equity share

Gartmore has awarded 3.5 per cent of the company’s equity to leading members of staff in a bid to lock them into the business. The firm has been hit by the recent departures of leading fund managers Guillaume Rambourg and Gervais Williams. Gartmore’s share price fell after it floated at the end of 2009 and, […]


Don’t confuse Nest with auto-enrol

Ian McKenna has fundamentally misunderstood both the 2012 pension reforms and the ABI’s position on auto-enrolment. First, Nest and auto-enrolment are not the same – the radical reform for 2012 is auto-enrolment, of which Nest is a part. Ian appears to be rather confused by whether he means the industry cannot auto-enrol – of course […]


Be prepared, not afraid

Many of you will remember when FSA chief executive Hector Sants was widely quoted last March as warning “be afraid, be very afraid”, pertaining to a view that the regulator needed to increase its activity on supervision and enforcement. It appears that he was as good as his word and, currently, not a month goes […]

Jupiter promoted to FTSE 250 index

Asset manager Jupiter is being promoted to the FTSE 250 index of mid-sized equities as part of the index’s latest rebalancing. Jupiter Fund Management floated on the London Stock Exchange on June 21 at 165p a share and as at 11.09am today the shares were valued at 226p – 37 per cent higher. The price […]

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Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.


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