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Leeds & Holbeck Building Society announces 2 per cent rise in profits

Leeds & Holbeck Building Society&#39s pre-tax profits increased 2 per cent to £12.6m in the first half of 1999 from £12.3m over the same period in 1998.

The society says the modest increase is a result of it dropping its net interest margin to 1.28 per cent from 1.46 per cent.

The society says it took £2.5bn in savings during the first half of this year including 20,000 Isas.


City solicitors issues warning on final salary pension schemes

City solicitors Rowe & Maw have issued a millennium warning to company directors, trustees and fund managers over final salary pension schemes.Rowe & Maw pensions partner Andrew White is says by April 2000, final salary schemes must have produced their first actuarial valuation to confirm they meet minimum funding requirements.He warns that if the scheme […]

Scottish Widows clinches US deal

Scottish Widows has clinched a two-way fund management deal with top five US insurer and 401(k) pensions player New York Life.Widows chief executive officer Orie Dudley says the deal with NYL fund management subsidiary MacKay Shields could be the &#34ultimate joint venture.&#34MacKay Shields will manage Widow&#39s High Income Bond Isa being launched on August 16. […]

Johnstone Douglas appoints head of stakeholder development

Employee benefits specialists Johnstone Douglas has appointed John Carr as associate director in charge of stakeholder pensions development.His role will be to gain an &#39unfair&#39 share of pensions and computer software market resulting from the introduction of stakeholder pensions.Previously semi-retired, Carr has been working for the IFA in the capacity of compliance officer.Formerly he has […]

GAM appoints chief investment director

Global Asset Management has appointed David Smith to the role of chief investment director controlling its multi-manager funds.Smith will continue to have responsibility for Gam&#39s multi Europe Fund, but he will now also manage the group&#39s flagship multi-manager fund Gam Diversity Inc.Gam managing director mutual fund division Christopher Cottrell says: &#34Gam was established to provide […]

Greg Broomer 2

Survey looks at the challenges facing businesses post auto-enrolment

A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.


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