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LLoyds TSB finance director to leave company immediately

Lloyds TSB Group has announced that its group finance director Philip Hampton is to leave the company immediately. He will be compensated in line with his contractual entitlement.

Lloyds says since Hampton joined the company in June 2002 its strategic direction has changed, resulting in a focus on organic growth within the core businesses. It says this meant a move away from the merger, acquisition and restructuring activity that was the focus at the time of his appointment.

Deputy chief executive Mike Fairey will take on the role until a replacement is found.


&#39Borrowers could save £2.2bn a year on mortgages&#39

UK households are thr-owing away £2.2bn each year on expensive mortgages, according to figures from Which?. The Consumers&#39 Association, publishers of Which?, believes that too many households are paying over the odds for their interest-only mortgages. Its research shows that average monthly mortgage expenditure per household is £391. It estimates that borrowers with a standard […]

Tory MP makes fourth bid for annuity reform

The latest bid to end compulsory annuity purchase started last week with the first reading of a private member&#39s bill from Conservative MP Adrian Flook. The bill is the fourth attempt to change the law on annuities in as many years following attempts by Tory MPs Sir John Butterfill, David Currie and Edward Garnier. The […]

Standard won&#39t talk about mutual benefits

Standard Life will no longer tell its existing and prospective with-profits policyholders about the anticipated benefits of mutuality as it announces it is reviewing its mutual status. Following the completion of talks with the FSA, the life office has also announced future and existing with-profits policyholders will also face a charge to reflect any relevant […]

Midlands IFA offers residential property in pension now

Midlands IFA Central Financial Planning is offering a pension arrangement that allows company directors access to direct investment in residential property. CFP says the Self Invested Benefit Arrangement has mandatory Inland Revenue approval because it follows special rules contained in the Income & Corporation Taxes Act 1988.

Martin Foden discusses how convenience is affecting the construction of fixed income portfolios

In this short video, Martin Foden, head of credit research at Royal London Asset Management, discusses how convenience is affecting the construction of fixed income portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not […]


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