The Money Portal is expected to announce a new chief executive next week after former CEO Tony Morris was forced to resign last week by the Department of Trade and Industry.Morris resigned in advance of a court case brought by the DTI concerning his role as director of 11 firms, seven of which have been dissolved and three of which went into liquidation. One of the companies, Defleet Holdings, was run by Morris with former TMP director Andrew Ritchie. Ritchie stepped down as a director of TMP in March and is now being sued by the company for alleged breaches of contract along with another former director, John Fairclough. TMP is trying to raise money to fund future acquisitions and has received funding from US investment bank Bear Stearns. Since being founded four years ago, TMP has amassed 1.4bn of assets under management and has made several acquisitions including Willis Owen and Bates Investment Services. TMP managing director Richard Craven says: “New board appointments will be announced next week following our next meeting with the regulator but I cannot confirm further details until then.”
Most landlords are investors and not speculators and are growing their portfolios at a rate of one property a year according to research from Mortgage Trust. The survey of 350 independent residential landlords shows that in May 2005 landlords held an average of 7.5 properties in their portfolios, up from 7.1 in January and anticipate […]
Invstec has appointed Mark Wynne-Jones from UBS Wealth Management to join its UK contrarian team, reporting to Alastair Mundy. Wynne-Jones was director of wealth management research at UBS and was previously a fund manager at Cavendish Asset Management.
Amvescap is giving new chief executive Marty Flanagan a pay deal worth 28m after recruiting him from Franklin Resources. His 450,000 salary is supplemented by a 2.6m performance-related bonus and 25m in shares. The firm, which owns Invesco Perpetual, is rumoured to be the continued target of a takeover by Canadian fund manager CI Financial.
Ice cream and fish fingers may not seem the most glamorous introduction into the world of finance but Sanjeev Shah’s graduate trainee job at Birds Eye Walls, with Unilever as a commercial analyst clearly set him on the right career path.
Rob Burnett, Head of European Equities, Neptune An inflection point was reached during the middle of 2016 as investors realised that interest rates simply could not fall any further. We believe this was the catalyst for the outperformance of value strategies over quality growth, with the share prices of banks, materials companies and energy stocks […]
- Top trends
- Top trends
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St James’ Place’s funds under management have passed the £85bn mark as the firm boasts “continued strong retention of client funds”. In a trading update this morning, the firm says funds under management have risen 14 per cent since the start of the year to reach £85.7bn, with net inflows of £6.7bn in 2017 to […]
The number of Sipp related complaints at the Financial Ombudsman Service has continued to rise. Between July and September, 767 Sipp enquiries were received, FOS data out today shows, compared with 678 for the previous three months. Sipp complaints are now more than 50 per cent higher than they were in early 2016. 193 made […]
Three fund selectors give their views on choosing passive funds, blending, and investor suitability