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Investment chief Hale quits Skandia

Skandia Investment Management chief investment officer Clive Hale has resigned from the company, saying he wants to spend more time with his family. He is being replaced by Hargreaves Lansdown investment director Alan Durrant, who will join SIM once the FSA has approved his appointment. Hale&#39s regulatory responsibilities will be taken on immediately by group investment director Jim Roberts, with support from Jason Collins, deputy chief investment officer.

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Rating firm checks out Standard Life solvency

Standard Life&#39s true capital position is “significantly weaker” than the company has claimed and the industry believed, says rating agency Fitch. The report – Reality Check: Is Standard That Poor? – warns that the plans to raise £750m in hybrid debt will be costly and that Standard&#39s days as a mutual are numbered. It says: […]

Underwriting success

There used to be a story told at direct-sales conventions comparing a life office with a car. In the driver&#39s seat, with a maniacal grin on his face, sat the sales director, his foot hard down on the accelerator. In the passenger seat, the finance director was frantically stretching over to put his foot on […]

ABI welcomes international accounting standards

The ABI has welcomed the introduction of a new international accounting standard for share-based remuneration announced by the International Accounting Standards Board. ABI head of investment affairs Peter Montagnon says: “Share-based remuneration is not a free lunch. It involves substantial cost, and investors firmly believe that it should be charged to profits. We congratulate Sir […]

Nationwide Building Society – Five-Year Tracker Mortgage

Type: Tracker mortgage Tracker term: Five years Tracker rate: Up to 95% of valuation &#45 Bank of England base rate plus 0.74%, up to 90% of valuation &#45 Bank of England base rate plus 0.34 %, up to 75% of valuation &#45 Bank of England base rate plus 0.24 % Payable rate: Up to 95% […]

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