Amvescap is giving new chief executive Marty Flanagan a pay deal worth 28m after recruiting him from Franklin Resources. His 450,000 salary is supplemented by a 2.6m performance-related bonus and 25m in shares. The firm, which owns Invesco Perpetual, is rumoured to be the continued target of a takeover by Canadian fund manager CI Financial.
National IFA franchise Ashley Law is setting up a share option scheme to allow members to participate in its growth. The shares – to be offered in Ashley Law parent Ashley Law Management Services – will be offered to any of the firm’s 85 franchise partners who achieve 60,000 annual turnover with a decent persistency […]
Credit Suisse Asset Management has established the CS Multi Manager incubator fund to take advantage of the flexibility offered by non-Ucits retail schemes.
The ABI is starting an expert working group on HIV to inform the insurance industry on best practices and policy in dealing with HIV issues. It will be chaired by Professor Donald Jeffries and includes underwriters from leading reinsurers, medical consultants and pinkfinance.com editor and IFA Chris Morgan.
Over 6m Britons prefer to rent than buy as mortgage phobia is gripping the nation, according to Alliance & Leicester. A&L’s latest quarterly index finds that over six million UK adults would rather rent than buy.Nearly half of these are fearful of getting on the ladder due to the cost of a mortgage.Further, 17 per […]
By George Boyd-Bowman, Fund Manager at Neptune Many Western investors have long bemoaned the lack of a true dividend culture in Japan, claiming the corporate culture is not tilted in favour of shareholders. Yet today, in the Land of the Rising Sun, we see a fresh impetus to focus on shareholder returns, which is leading […]
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Three advice firms have stopped giving pension transfer advice following work by the FCA over the future of the British Steel Pension Scheme. A statement this afternoon details the FCA’s “information gathering exercise” to identify the firms that have been most active in advising people to transfer out of the scheme. The regulator got information from […]
The FCA has launched a consultation on its approach to authorisation and competition, which will be open to responses until March next year. Following the launch of the FCA’s mission in April, the approach documents are the second and third in a series of papers explaining how the watchdog tackles regulation. The first document, the […]