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MGM appoints CFO

MGM Advantage, the retirement income firm has appointed Geoff Shanks as chief financial officer.

Shanks will be responsible for the investment, finance, actuarial, compliance and risk management functions at the company.

He joins from Zurich Financial Services after having worked at Prudential, NatWest Life, Mercantile & General Re and the Fairfax Group.

MGM Advantage CEO Chris Evans says: “We are delighted to welcome Geoff to the company and look forward to working with him during this exciting time for the business. The knowledge he has gained over his career will be highly valuable as we continue to develop ways to offer market leading service and annuity products to our customers and members.”


HMRC outlines new offshore disclosure initiative

HM Revenue & Customs has confirmed details of a new disclosure initiative that will allow people with unpaid taxes linked to offshore accounts or assets to settle their tax liabilities at a favourable penalty rate.


Tories won’t commit to 2012 on RDR

The Conservatives have refused to make a commitment to a 2012 deadline for compliance with the retail distribution review after announcing plans to scrap the FSA.


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