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Kelly welcomes endowment ruling

Treasury economic secretary Ruth Kelly has welcomed the FSA&#39s ruling introduced in September which forces life offices to tell endowment policyholders all of the options available to them when surrendering a policy.

Speaking at the Association of Policy Market Maker&#39s tenth anniversary event at the House of Commons, Kelly said this promotes consumer choice and encourages people to shop around. FSA director Michael Folger said it has a continuing agenda to look into this market following on from CP106.


New Star recruits Invesco and M&G chiefs

New Star has recruited Invesco Perpetual UK manager Stephen Whit-taker and M&G Inter-national chief investment officer Theodora Zemek.Whittaker is replacing Alan Miller at the helm of New Star&#39s £200m UK growth fund from August.Miller is moving within New Star to concentrate on its hedge fund business.Whittaker runs Invesco&#39s £730m UK growth fund, which will be […]

Independent view

Yet again we are being bombarded with media articles on the pension crisis, triggered largely by the recent actions of defined-benefit schemes.Is such a negative portrayal of the situation damaging or does it provide a glimmer of hope in the wider context of the pension savings gap?The primary cause of the pension savings gap, it […]

Inside edge:

“We&#39ve got really nice brochures.”“Our buildings are very tall and in lots of different cities.”“Here&#39s a picture of a man with a computer and glasses on. Believe me, we are all very bright.” One year from now, these are the sort of bold advertising straplines that we will all be brainstorming as we contemplate trying […]

Friends Ivory & Sime announces new executive team

Royal & Sun Alliance Investments has secured two of the top spots in executive management team following its acquisition by Friends Ivory & SimeHoward Carter is to stay as chief executive of FIS. RSA managing director of investment management Robert Talbut becomes chief investment officer of the enlarged group and RSA managing director, retail Nick […]


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