Scottish Widows chief executive Archie Kane is the new chairman of the Association of British Insurers, succeeding Keith Satchell who ends his two-year term.
Barclays has entered into a £9bn deal with China Development Bank and the Singapore government to boost its bid for the takeover of Dutch group ABN Amro.
Halifax has revised its forecast for house price inflation from 4 per cent to 6 per cent for the year but warns it expects the pace of growth to slow in the second half of the year.The shift brings the UK’s biggest lender’s projections for the year in line with Nationwide Building Society, which says […]
Prestbury is setting up a franchised distribution operation called Moneybrain alongside its present appointed representative network.It is offering franchises based on 120 postcode regions, with costs from 5,000 to 25,000.Advisers will trade under the Moneybrain banner and will be ARs of Prestbury, which will retain 20 per cent of income.Prestbury chief executive Lee Birkett says […]
The FSA has banned a mortgage broker for submitting a false mortgage application to a lender.John Adebayo Adepoju trading as Landmark Finance was stopped from conducting regulated activities with immediate effect on April 26 because of his direct involvement in the submission of at least one false mortgage application.The FSA has now cancelled Landmark’s permission […]
By Douglas Turnbull, Investment Director, Head of Chinese Equities China faces a ‘Rubik’s Cube’ policy trilemma, whereby it needs to sustain a minimum acceptable level of growth, deal with issues such as overcapacity and reform the financial system to make it a far more efficient allocator of capital. Given the contradictory nature of these objectives, […]
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It is encouraging to see the FCA close in on lazy fund management, but more needs to be done Without fanfare, the FCA has confirmed its intention to punish lazy fund management. Several groups have been persuaded into voluntarily compensating investors who bought their beta-posing-as-alpha products, otherwise known as closet trackers. The regulator suggests that […]
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