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New Northern Rock chairman approved by FSA

Northern Rock has confirmed that incoming director Bryan Sanderson has been approved by the FSA.

As a result, Sanderson’s appointment as a director and chairman of Northern Roch has become effective.

This comes after the resignation of chairman Matt Ridley last Friday due to his role in the bank’s crisis.

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So, it seems IFAs are making money after all. I’ve not been around that long, but if I had a pound for every time I’d heard someone say that IFAs don’t ever make any money, I’d be, ooh, at least a couple of hundred pounds better off.

Boutique fund launchesneed IFA support

SVM head of retail sales Mark Noble believes it is crucial for new boutique fund launches to get endorsement from adviser firms and multi-managers if they are to get through their initial phase of asset gathering.Noble said at the roundtable debate that while bigger companies may be able to seed funds, boutique firms really needed […]

Pearl attacks Resolution’s £1bn offer to Friends shareholders

Pearl has hit back at Resolution’s offer to pay out £1bn of surplus capital to Friends Provident shareholders as part of the agreed merger.Pearl released a statement this afternoon asking why Resolution’s capital should be shared with Friends Provident shareholders.Other questions raised by Pearl, which has already made two takeover offers for Resolution, include: “Why […]

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