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Legg Mason’s McNulty set to leave firm

Legg Mason head of retail sales Andy McNulty has been made redundant following a restructure.

McNulty’s departure is part of review of all areas of the business, with his duties to be taken on by head of European sales and client services Justin Eede.

A statement from the group says: “As part of our review of all areas of the business to align our operating costs with the realities of the marketplace, we have made the decision to implement staff reduction. Based on this the UK sales and client service team will now report directly into Justin Eede, Head of European Sales & Client Service.

“Legg Mason is fully committed to the UK marketplace, and within the last 12 months has launched 2 new funds into the UK ICVC fund range. Legg Mason has plans to continue to expand it’s offering to UK investors.

“Legg Mason continues to not anticipate across-the-board reductions in force, but will examine each part of our operations strategically and any changes made will be consistent with our business requirements.”


Osborne and Turner lead list at ABI conference

Conservative Shadow Chancellor George Osborne and FSA chairman Adair Turner are just two of the high-profile names speaking at the Association of British Insurers’ biennial conference, in partnership with Money Marketing and KPMG.

Cancellation crunch

From the first quarter of 2007 to the second quarter of 2008, FSA authorisations and cancellations were roughly in line with each other.


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