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Martin and Findley step down at RSM Tenon

RSM Tenon chairman Adrian Martin and deputy chairman Michael Findley are stepping down after only three months.

They were appointed to their roles in January after chairman Bob Morton and chief executive Andy Raynor stepped down. Martin is to step down once a successor is found while deputy chairman and senior independent director Findlay, who is also non-executive director, is leaving at the end of May to join Bank of America Merrill Lynch.

In January, RSM Tenon said it was conducting a review which may lead to restatements of its accounts to June 30, 2011 as well as incurring certain “non-recurring, non-cash charges” in the six months to December 31, 2011, that were not included in additional expectations.

In February, RSM Tenon announced it was to cut 10 per cent of jobs as part of a restructuring programme after it posted a loss on continuing operations of £70.6m, after an impairment of goodwill of £60.7m, for the last six months of 2011.


GBST UK head Wilkinson takes director role at IFDS

GBST Wealth Management head of UK business Ian Wilkinson is joining technology firm International Financial Data Services as director of platform technology. Wilkinson has been with wrap technology provider GBST since March 2007. GBST provides the technology behind the Novia, AJ Bell, JP Morgan and Aegon Retirement Choices platforms. GBST chief executive Rob DeDominicis says: […]

AWD picks Cofunds for mass affluent clients

National IFA AWD Chase de Vere has appointed Cofunds as its main platform provider for mass affluent clients. The firm says the move comes after nine months of due diligence and will see the firm’s “enhanced segment” of clients, with investable assets of between £50,000 and £375,000, supported by Cofunds. AWD already has over £1bn […]


Only 12% of Arch cru sales based on suitable advice

The FSA says just 12 per cent of Arch cru sales were found to involve suitable advice, based on an external file review of a small number of cases. The regulator published a consultation paper today on plans to implement a £110m redress scheme for between 15,000 and 20,000 Arch cru investors. Firms will be […]


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