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Phoenix acquires Abbey Life in £935m deal

Deutsche Bank has agreed to sell Abbey Life to rival closed-book provider Phoenix Group in a deal worth £935m. The deal is subject to regulatory approval, and will result in an expected pre-tax loss for Deutsche Bank of €800m (£688m). Abbey Life will add £10bn of assets under management to Phoenix’s Book and around 735,000 […]

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FCA: Busy bosses are no excuse for conduct failure

The FCA has said it will not let senior managers at financial firms off the hook for conduct failures because they are too busy. The regulator today released a bundle of documents focused on firms’ culture, six months after it started its senior managers regime in banks and insurance companies. The regime is intended to make top […]

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Advisers say scrapping limit for poor advice does not address FSCS failures

Advisers say removing the £50,000 Financial Services Compensation Scheme limit for poor advice would not address the inherent failures in the scheme’s funding and the way it operates. Last week, FSCS chief executive Mark Neale wrote a blog arguing the £50,000 limit for negligent advice should be scrapped. There is currently no limit to compensation […]

Large-cap growth alpha thesis: seeking risk-adjusted excess returns

Content supplied by Loomis, Sayles & Company — an affiliate of Natixis Global Asset Management For mutual fund investors and managers of large pensions or endowments, a major challenge is to identify those portfolio managers who are most likely to deliver superior risk-adjusted returns in the future. Understanding how an investment philosophy informs a manager’s decision […]

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