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James Hay parent £205m takeover deal terminated

James Hay parent company IFG and private equity firm Bregal Capital have terminated discussions over a proposed £205m takeover.

In May IFG announced that it was in talks with two firms over a possible acquisition. On August 31 the company signed an exclusivity agreement with Bregal.

However in a statement today IFG says: “In view of the current dislocation in global markets, both IFG and Bregal have agreed to discontinue discussions.

“Accordingly, the board can confirm that the company is not in talks with any party regarding a possible takeover.”



MM profile: Paul Smee

Former Aifa director general Paul Smee has returned to financial services to head the Council of Mortgage lenders, with regulatory battles still top of his agenda. As the first director general of Aifa, Smee is used to going head to head with regulatory bodies and, with the FSA’s mortgage market review and the European Commission’s […]

Double-tax fears over new Swiss disclosure deal

The Chartered Institute of Taxation has warned that UK residents who have already informed HM Revenue and Customs of their Swiss bank accounts could be taxed twice if they do not make a further disclosure under the Government’s new tax deal. Last month, HMRC announced a deal with the Swiss government that will see UK […]


Aifa: Let’s be prudent about prudential requirements

Aifa welcomed the FSA’s recent delay in the implementation of the revised capital requirements for most IFAs. On one level, the extended deadline is a pragmatic move as the economic environment under which firms are operating today is very different to that when the policy was devised. However, Aifa believes the regulator should use the […]

Senior duo quit Neptune

Neptune head of continental European sales Paul Boughton has quit the firm to join boutique Mirabaud Investment Management as joint sales and marketing director. Separately, Neptune head of institutional business Alistair Wilson has also quit the firm. Money Marketing revealed last week that Skandia Investment Group head of UK sales Andrew Blair has resigned to […]


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