View more on these topics

KPMG to weigh up ABI/BBA merger

The ABI and British Bankers Association have taken a step closer towards merging after employing consultancy KPMG to consider the pros and cons of such a move.

While both the ABI board and BBA council support a merger in principle, they have asked the consultancy to report back with its suggestions by the summer, at which point they will make a recommendation to their memberships and put the proposals to a vote.

KPMG will be considering whether, in light of increasing consolidation in the industry, as well as the creation of a single regulator, it makes sense for there to be a bigger trade body with a single voice.

It will also be looking at practical issues such as the timing of a merger and what would happen to existing property and staff.

The ABI claims a merger makes sense given the changes to distribution which will follow the scrapping of polarisation. They say it does not make sense to have two separate trade bodies if companies are selling each other&#39s products.

ABI head of media and political affairs Alan Leaman says: “A supporter would say it is important to have a large organisation with a powerful voice, while those against the merger would say you dilute it for exactly the same reason.

“It is the view of the ABI board in principle that it is important for financial services as a whole to have representation as an industry.”

Comment, p35


Credit Agricole Asset Management – CA Funds Europe Equity Research

Tuesday, 26 March 2002 Type: Sicav Aim: Income and growth by investing in up to 70 European stocks Minimum investment: £0.01 Place of registration: Luxemburg Investment split: 100% in up to 70 European stocks Isa link: Yes Charges: Initial up to 4.5%, annual 1.6% Commission: Initial up to 4.5%, renewal 0.5% Tel: 020 7303 8042

New forum aims to give IFAs tech voice

Leading IFAs have teamed up with the Financial Technology Research Centre to create a new body aimed at improving the way advisers interface with life offices.The Adviser Technology Forum, headed by FTRC director Ian McKenna and backed by several major IFAs, aims to bring IFAs together to agree common technology needs and present product providers […]

Pioneer boosts new business

Income protection specialists Pioneer Friendly Society increased its new business by 19 per cent last year to £5,771,746 from £4,829, 281.Pioneer&#39s products, which are designed for customers looking for nil and short deferred periods, are only available through IFAs and is aimed at women and manual workers.

BDT global trust looks through emerging markets lense

BDT Investment Management, a boutique investment house established in 2000, has introduced the establishment investment trust. This aims for capital growth through a portfolio of global shares, fixed interest securities and hedge funds.The trust was designed as a rollover vehicle for a Luxemburg-based Sicav. It will not have a benchmark, so there are no specific […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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