View more on these topics

Kensington selling £100m in shares

Kensington Mortgage Company is floating a tranche of shares in the firm

which is expected to raise £100m.

US-based Ocwen, which owns a third of the company, is leaving the market.

Company chief executive Martin Finegold is not selling any personal

shares. But rumours persist this is the first stage in the firm&#39s eventual

disposal of the company he established in 1994.

One sector insider says: “This is the first step in Mar-tin selling off

the whole business. He wants to concentrate on IFonline.”

However, it seems that Finegold wants to grow the business before making

any eventual sale.

This move is seen as an opportunity for the company to boost its liquidity

to help with an expansion of thebusiness.

Kensington has lent a total of £1.4bn since it was established, with £1bn

of the total being securitised.

Consultants Schroder and Salomon Smith Barney advised on the share issue.

Recommended

CPD programme to set competence standards for LTC

Savers who open an account with Cheltenham & Gloucester before July 31will be given two free tickets to any National Trust house or garden. C&Gwill also donate £1 to a National Trust coastline campaign for each accountopened.Trade bodies Sofa and IFA Care are teaming up to develop a continuingprofessional development programme to establish minimum competence […]

Don&#39t get caught in the web

This year will see ever more IFAs and financial services businessescreating websites and that is a good thing. But they will also be venturinginto a world of security risks, data protection responsibility, copyrightand intellectual property issues, with risks of seeing their own materialstolen or misused or of inadvertently misusing somebody else&#39s material.Even reproducing an article […]

When the payout is in a critical condition

If a client&#39s critical-illness cover policy will not pay out it spells badnews for the IFA as well as the client.When a client is left suddenly without cover because their circumstanceshave changed, it can be a shock but when their policy will not pay out itis nothing shortof a disaster.The good news is that help […]

The medium is the message

The following story is fictional, contrived to highlight issues withcustomer contact management but read on to learn a thing or two aboutyourcustomers.Meet Holly, a successful40-something, complete with career, husband, twochildren, Swedish nanny, big home, expensive car, the lot. She appears tobe your dreamcustomer come true, and she runs the family finances.Unfortunately, some early experiences (Holly […]

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com