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New head of investment trusts at First State

First State Investments has announced the appointment of Lucy Allan as its new head of investment trusts.

Allan&#39s appointment follows current head of investment trusts Teddy Tulloch&#39s decision to retire at the end of August after 30 years with First State and Stewart Ivory before it was bought by First State in 2000.

When she joins on August 20, Allan will be responsible for working with the boards of First State&#39s two investment trusts as well as new business development moving forward.

She joins most recently from UBS Warburg&#39s investment trust team and prior to that she was head of investment trusts at Gartmore.


National law firm launches new FSA unit

National law firm Russell Jones & Walker has launched a new consultancy arm looking to advise the financial services industry on regulatory issues. The new FSA Unit will combine Russell Jones & Walker&#39s experience in employment and litigation to help the industry deal with the FSA&#39s regulatory framework.The team will be based in the London […]

Cazalet attacks Standard Life

Influential analyst Ned Cazalet has launched a scathing attack on Standard Life, saying its reserves are severely depleted and that it is pursuing a high-risk investment strategy.Speaking at a round table organised by F&C, Cazalet said: “Standard Life has lost £9bn out of its £10bn capital. Standard Life is taking riskier and riskier bets. Standard […]

Giant merger would create &#39biggest IFA firm&#39

The rumoured takeover of Bradford & Bingley by Barclays could create the UK&#39s biggest national IFA with a total of 1,400 registered individuals.The potential merger would bring together Woolwich IFA services&#39 400 RIs and its 400 non-regulated mortgage brokers with B&B&#39s 1,000 advisers from Charcol and the MarketPlace.Analysts believe that one of the main drivers […]

&#39Unmarried parents missing IHT saving&#39

IFAs are ignoring an inheritance tax saving solution for unmarried parents because they think it is only available to married people, according to Chancery Law Group.Use of the nil-rate band discretionary will trust, which allows both parents to pass on the benefit of their £250,000 IHT allowance to their children, has been common between spouses.But […]


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