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L&G chief exec stays on in boardroom reshuffle

A boardroom reshuffle at Legal and General will see chief executive David Prosser remain a further two years and corporate business director Andrew Palmer replace Tony Hobson, who is retiring as after 13 years, as finance director.

The shake up means Prosser who was due to retire in 2004, will now stay on until 2006.

He will spearhead the launch of L&Gs stakeholder pension in April 2001 and is aiming to obtain a 10 per cent share of the stakeholder market for L&G.

Palmers former role will be taken up by retail business group director Robin

Phipps and highlights L&G&#39s commitment to promoting junior executives.


October mortgage lending down 20%

Mortgage lending slumped by 20 per cent last month compared with the same period last year, according to figures from the Council of Mortgage Lenders.The monthly CML and Department of Environment, Transport and the Regions survey found loans for home purchase fell in October to £163;6.1bn from £163;6.4bn in the same month last year.Despite the […]


I have just read a newspaper article about a mother who is petrified about her baby&#39s wellbeing. Not because she is a bad mother but because all the “experts” tell her that, whatever she does, however inn ocuous, it is putting her baby&#39s life at risk.The latest scare for her was that kissing a child […]

&#39Myners does not go far enough&#39

Interim proposals from the Myners Review into institutional investment for def ined-benefit pension schemes do not go far enough, according to experts.Gartmore chairman and chief executive Paul Myn ers is making a number of key recommendations, inc luding the abolition of the minimum funding requirement for DB occupational plans. He says the assump-tions made under […]

Powerful estate planning tools ignored or forgotten by wealthy Brits

Canada Life IHT Survey 2016 Only a quarter of wealthy Brits have sought professional estate planning advice to ensure their families don’t pay more tax than required More than a quarter don’t even have a will and just one in five have gifted money Many say they do not need these tools but families would […]


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