Misys chief executive and director Kevin Lomax has quit ahead of the AGM this week. There has been strong criticism from shareholders after Lomax led a failed MBO bid, with reports that several institutional shareholders were going to vote against his reappointment to the board. Chairman Sir Dominic Cadbury will take on his responsibilities until a successor is appointed.
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Focus on Protection
Royal London’s profits from new business grew by £22m in the first six months of this year compared to £37m for the full year in 2005. The provider is now the UK’s largest mutual life and pensions company since Standard Life’s demutualisation was completed in July.
Record results for Helm Godfrey
National IFA Helm Godfrey reported record results for the first half of this year. Profit nearly tripled to 343,823 compared with 125,939 for the same period last year. Turnover increased by 53 per cent to 2.76m from 1.8m.
Gartmore MBO completed
Private equity firm Hellman and Friedman and Gartmore’s senior managers have completed their acquisition of Gartmore from Nationwide. The acquisition includes all Gartmore’s UK, European, Japanese and Latin American businesses and is one of the biggest-ever management buyouts of an asset management company.
CII unveils Advanced Diploma
The Chartered Insurance Institute has unveiled its Advanced Diploma in Financial Planning which forms the final part of its new financial planning exam framework.The CII says the diploma is designed to develop specialist financial planning capabilities and provide the gateway to Chartered Financial Planner status.It is made up of five units – personal tax and […]
Global income: preparing for a rate rise…
In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]
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Beaufort Investments appoints new CIO
Discretionary fund manager Beaufort Investment has promoted internally to fill the position of chief investment officer and has also appointed a new funds research executive. Beaufort Investment is part of the vertically integrated Beaufort Financial group. Head of portfolio construction Shane Balkham has been appointed as CIO and investment analyst Emma Clarke has been named […]
Profile: ‘We could be facing a constitutional crisis in the UK’ says Leodis chief
New Leodis Wealth chief executive on supporting clients through the chaos caused by the UK’s exit from the EU The long and tortuous road to Brexit has taken us from a political soap opera to what many regard as a tragedy over the past two-and-a-half years. Whatever drama is yet to unfold, the message that […]
Five minutes with…The Lang Cat’s Steve Nelson
Consulting director at The Lang Cat Steve Nelson talks making sure clients know what they’re buying and the joys of research ahead of his appearance at Money Marketing’s flagship conference. What one word or phrase do you think sums up the state of the financial planning profession today? I’m going to defer to our adviser […]
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