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Myners moves in at M&S

Former Gartmore chairman and the Treasury&#39s favourite reviewer Paul Myners has been named as the interim chairman of Marks & Spencer following a board shake-up which sees chief executive Richard Holmes also replaced. Myners, who already sits on the retailer&#39s board as a non-executive director, now becomes a key member of its so-called &#39dream-team,&#39 alongside new chief executive Stuart Rose, which is preparing to resist the take-over ambitions of Arcadia owner Philip Green.

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Split-cap pioneer fights FSA

Former Brewin Dolphin head of split caps David Thomas is appealing an FSA decision blocking his attempt to come out of retirement by refusing to authorise him. Thomas, said to have developed the modern split-cap structure, is appearing before the Financial Services & Markets Tribunal between June 22 and 25.

Standard seeks direct route for shortfall cash

Standard Life says it is working closely with the ABI and the Council of Mortgage Lenders to develop a process where endowment compensation is paid directly to the lender. The company says the discussions are still in the very early stages but it is keen to consider the issue in detail as it says that […]

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&#39Trivial change to squeeze annuities&#39

Sofa managing director Bob Bullivant says the annuity market will shrink by more than a quarter to £5bn from its current level of £7bn when pension simplification takes effect in April 2006. He says the sector will be squeezed at the top and bottom, with the raising of the trivial commutation limit cutting out thousands […]

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