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Misys awards bosses with bonuses

Misys has awarded its top five executives with performance based bonuses totalling £1.3m, despite the share price of the software giant losing 75 per cent of its value since the beginning of last year.

Chairman Kevin Lomax received £375,000 extra to take his total salary including benefits to £752,614 from £377,614 for the 12 months to the end of May.

Deputy chairman Strone Macpherson and managing director John Sussens each doubled their £262,500 salaries with bonuses of the same amount.

The generous bonuses come despite operating profits falling to £94.5m from £103m over the same period.


Specialist loans make up a third of IFA business says survey

A survey by mortgage lender Sun Bank reveals arranging loans for clients with specialist needs makes up a third of all mortgages handled by IFAs but only one in five cases in the market overall. It says IFAs have a chance to differentiate themselves from high street banks in this complex prime sector. Of the […]

GE launches fourth income plan

GE Life has launched a high income and growth plan, the fourth in a series. The plan offers a fixed annual income of 10.25 per cent, flexibility in taking either a monthly or annual income with the option of investing for growth, return on capital linked to the performance of the Dow Jones Euro Stoxx […]

London Calling

Fund management group Grosvenor, which specialises in property investment, has teamed up with Kleinwort Benson Private Bank to create the Grosvenor Kleinwort Benson residential property investment fund. This offshore fund is aimed at high-net-worth clients looking for capital growth. It invests in properties in prestigious parts of Central London including Mayfair, Chelsea and Belgravia. These […]

Northern Rock walks the tightrope

Northern Rock and Legal & General have linked up for the second time to create the second edition of balance-choices. Balance-choices combines an instant access savings account from Northern Rock with Legal & General&#39s with-profits income bond. Investors must place at least half of their investment, but no more than 80 per cent, in the […]

Inheritance tax when it is relevant

Neil Jones is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. A trust can offer significant advantages when an individual is […]


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