View more on these topics

New chief Evans sure Axa is on right course

Former chief executive of Axa Life Paul Evans says he will continue with the firm’s existing strategy as he succeeds Nicolas Moreau as chief executive of Axa UK.

Evans had been promoted to deputy chief executive of Axa UK following the sale of the company’s life and pensions, corporate pensions and IFA protection businesses to Resolution for £2.75bn. Moreau becomes chief executive of Axa France.

Evans says: “It is not a case of new CEO, let’s launch a strategic review. I believe we are on the right path and the focus for the next few years is on accelerating our delivery, achieving profitability targets and achieving scale.”

Axa UK reported a 6 per cent increase in business on an annual premium equivalent basis to £469m for the first half of this year, up from £441m last year.

Life and wealth underlying earnings soared by 79 per cent from £58m to £104m.

Bluefin Advisory Services increased revenues by 8 per cent but revenues for Bluefin Wealth Management were down by 19 per cent to £31m.

The insurer says BWM has closed 20 offices and 200 employees have left the business.

Axa’s Elevate wrap has 675 IFA firms signed up with around £1bn of assets on the platform while the multimanager business Architas nearly doubled funds under management to £3.5bn.



Maguire says bid for Arch Cru compensation will fail

Cru Investment Management founder Jon Maguire believes IFAs will fail in their attempt to seek compensation from Capita for losses their clients have suffered through the Arch Cru range. Last week, Money Marketing revealed that around 1,300 complaint letters had been sent to Capita asking for the firm to refund their original investment in the […]


Trials and tribunals

Over the last few years, high rates of tax have encouraged some investors to invest in tax mitigation products and tax shelters. These will typically be designed by specialist tax promoters and marketed through IFAs who, if they consider the product to be suitable, will recommend it to clients for investment. Film partnership investment schemes […]

Henderson Gartmore rumours: adviser reaction

Gartmore and Henderson have several similar funds and the only reason for a merger between the groups would be for Gartmore staff to crystallise profits from its stock market listing, advisers suggest. This morning, the Daily Mail reported that Henderson may be considering an approach for Garmore just 18 months after it completed its acquisition […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm