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National Mutual cuts branch network

National Mutual is cutting its branch network to 11 offices from the current 18.

The move is likely to cost 25 backroom staff their jobs as the pensions specialist cuts its staff from 100 to 75.

Its 90-strong broker sales force remains unaffected.

National Mutual blames the cutbacks on the continuing market pressure to drive down costs and charges. This has led to slashed margins as pension providers aim to keep there market share.

The seven offices to be closed are Belfast, Chelmsford, Croydon, Leicester, Sheffield, Southampton and Newcastle. Their sales support functions will be transferred in the summer.


Halifax cutbacks estate agency arm

Halifax is to sell off 224 of its 618 estate agency offices around the country.Initially Halifax will close estate agency branches in towns where there is both a banking office and an estate agency.The current branding of Halifax Property Services will disappear with all offices branded under the corporate Halifax name.The decision could put up […]

Winterthur develops system to speed up home buying process

Winterthur has developed a computer system which it believes will speed up the process of buying a home.The system called &#39Winteract&#39 aims to cut two weeks off the whole house buying process which Winterthur says currently takes an average of about 80 days from viewing to completion.The system removes the need for lengthy form filling […]

Unit linked managed funds out perform with profits according to Bacon & Woodrow

Managed pension funds continue to outperform with-profits funds over five and ten years according to Bacon & Woodrow&#39s latest survey of additional voluntary contributions.The average unit-linked managed fund has returned 10.6 per cent annually over five years compared to 9.8 per cent for with-profits funds.Over ten years unit-linked managed funds have returned 11.3 per cent […]

Mercury European Privatisation Trust share price falls

Mercury European Privatisation Trust has announced a 3.4 per cent decrease in share price in its annual results for the year ending March 31, 1999.The results compare to a rise in the MSCI Europe Index of 8.5 per cent over the same period.The net asset value also declined by 2.1 per cent during the course […]


Natixis Global Asset Management’s quarterly Portfolio Barometer offers insights into UK financial advisers’ model portfolios and the allocation decisions they are making. Natixis’s Portfolio Research & Consulting Group works with financial advisers and other intermediaries to analyse and enhance their model portfolios and help them develop investor portfolios suited to today’s complex markets. The Portfolio […]


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