View more on these topics

New Star and Evershed settle out of court

Patrick Evershed, former fund manager at New Star, has reached a settlement with the asset manager over claims he was bullied.

Evershed had been seeking more than £1m in compensation from his former employer, claiming he was bullied by the firm’s founder John Duffield.

The parties said in a statement: “New Star Asset Management holdings (now owned by Henderson Group plc) and Patrick Evershed have reached an agreement which resolves the employment tribunal proceedings without admission of liability.

“Both parties are satisifed with the terms of the agreement and have agreed to keep them confidential. No further comment will be made.”



Age UK to return NHFA commission to clients

Age UK has confirmed it is to return any commission relating to Nursing Home Fees Agency misselling back to clients it recommended to the HSBC-owned firm. On Monday, the FSA issued the largest ever retail fine of £10.5m against HSBC because of inappropriate investment advice provided by NHFA to 2,485 elderly customers between 2005 and […]


Openwork takes on 75 Co-op advisers

Openwork has taken on 75 of the 670 Co-operative Financial Services field-based advisers who were made redundant in July. Over 250 of the former Co-op field advisers have joined distribution firms following the redundancies, which were announced by Co-op Group after a strategic review of its life and savings business. Personal Touch Financial Services has […]

Networks urged to scrap single-tie deals

Just Retirement is calling for networks to ditch planned single-tie annuity distribution deals with providers due to concerns that clients will not get the best deal. Director Steve Lowe says an increasing number of networks are in discussions with providers over possible single-tie arrangements as they look to boost their revenue ahead of the RDR. […]


EU treaty letter calls for common framework on financial regulation

France and Germany are pushing for changes to the EU treaty which would see EU member states subject to the same financial regulation and the creation of a financial transaction tax. A joint letter to the European Council president Herman Van Rompuy from French President Nicolas Sarkozy and German Chancellor Angela Merkel sets out more […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Good to see that someone got something worthwhile out of the New Star debacle which is more than can be said for the poor clients who were badly advised to invest in the lemon fund by IFA’s !

Leave a comment