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More to leave at HSAM?

Hill Samuel Asset Management is bracing itself for another wave of

departures this week as its European team prepares to leave.

The name of the Edinburgh-based Scottish Widows/Hill Samuel operation is

to be announced this week.

Star fund manager of the UK smaller companies fund, Ashton Bradbury, is

also tipped to be leaving over the summer.

HSAM&#39s US team, led by Katherine Garrett-Cox, quit to join Aberdeen Asset

Management last week.

The exodus comes after HSAM&#39s plan to relocate to Edinburgh. HSAM

maintains there are still around 20 to 30 fund managers making the trek

north of the border, although industry sources believe the numbers could be

less than 10.

Chase de Vere investment marketing manager Ian Millward fears the problems

at HSAM may not just be to do with the move. He says: “I think people will

generally accept relocation if the package is right so I think it must run

deeper than that. Hill Samuel has not been known as a very strong company

in recent years and I certainly do not have any faith in them at the



Synaptic signs up as sponsor for IFP

The Institute of Financial Planning has won further sponsorship.The latest business to back the examination body is product researchinformation provider Synaptic Systems.This sponsorship is intended to help increase the institute&#39s membershipand promote awareness of the finan- cial planning profession.Synaptic will be supporting marketing and special project initiatives,including development of the IFP&#39s website. It will also […]

Carpetbaggers renew attacks on Portman

Carpetbaggers are planning a new assault on the mutuality status of Portman Building Society.Campaigners admit this could be a “last ditch” effort to force a renewed debate on the building society&#39s future status. If it fails there will unlikely be any further attempts.They are seeking support for three motions criticising directors after the board expelled […]

Friendly face of Foresters retires

Foresters Friendly Society chief executive Bob Pollard retires at the endof May after 27 years of service.Pollard, a former president of the Association of Friendly Societies,joined the Southampton-based friendly in 1973 as secretary of itssecond-biggest district.He says: “I have seen many changes but our traditions still remain firmlyin place – a sharing and caring approach […]

IF&#39s E-loan link to offer proof of best advice

Halifax&#39s new telephone and internet bank Intelligent Finance is planningto offer mortgage brokers point-of-sale compliance from July.The company is to useE-loan&#39s mortgage search software following lastweek&#39s announcement of a strategic alliance between the two companies. IFsays IFAs will be able to evaluate the market before recommending the bestmortgage.This would guard against any move by the […]

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


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