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Lazard picks CEO

Lazard has appointed Kenneth Jacobs as chairman and chief executive officer. He was CEO of Lazard North America and succeeds former chairman and CEO Bruce Wasserstein who died in October.

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Aviva offers cashback pledge for with-profits

Aviva is to launch a continuous money-back guarantee option for new with-profits investments. The firm says investors who move out of the fund at any point after five years will get back at least the amount they initially invested. The guarantee will be available from November 30, on new investments in the with-profits guaranteed fund. […]

Cornell accuses HSBC of sparking dual-pricing

HSBC’s deals provoked the extremes of dual-pricing among intermediary lenders, says First Action Finance head of communications Jonathan Cornell. At the Mortgage Business Expo, Cornell said if HSBC had not been pricing so aggressively, then other lenders perhaps would not have felt the need to follow their lead. He said: “HSBC is probably causing the […]

Pain warns about abandoning caution in upturn

FSA managing director of retail markets Jon Pain has warned that caution will be quickly forgotten when the property market recovers. At the Council of Mortgage Lenders’ conference last week, he said the apparent market correction is somewhat of “a mirage”. He highlighted some of the risky practices that could be repeated if market confidence […]

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